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	<div class="breadcrumbs"><a href="https://youngmindsonline.org">Home</a> <span class="sep"> / </span> <a href="https://youngmindsonline.org/category/business-innovation/">Business &amp; Innovation</a> <span class="sep"> / </span> <span class="current">1st Chinese lender to own London vault</span></div>			 <article id="post-6736" class="post-6736 post type-post status-publish format-standard has-post-thumbnail hentry category-business-innovation">
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                    <h1 class="entry-title">1st Chinese lender to own London vault</h1>
                                                <aside id="meta-6736" class="entry-meta"><span class="posted-on">Posted on </span><a href="https://youngmindsonline.org/2016/05/17/1st-chinese-lender-london-vault/" title="10:00 AM"><time class="entry-date" datetime="2016-05-17T10:00:16+05:30">May 17, 2016</time></a><span class="by-author"> by </span><span class="author vcard"><a class="url fn n" href="https://youngmindsonline.org/author/admin/" title="View all posts by admin" rel="author">admin</a></span><span class="posted-in"> in </span><a href="https://youngmindsonline.org/category/business-innovation/" rel="tag">Business &amp; Innovation</a> 		</aside>
                        <img width="800" height="450" src="https://youngmindsonline.org/wp-content/uploads/2016/05/1st-Chinese-lender-to-own-London-vault-800x450.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" loading="lazy" srcset="https://youngmindsonline.org/wp-content/uploads/2016/05/1st-Chinese-lender-to-own-London-vault-800x450.jpg 800w, https://youngmindsonline.org/wp-content/uploads/2016/05/1st-Chinese-lender-to-own-London-vault-300x168.jpg 300w, https://youngmindsonline.org/wp-content/uploads/2016/05/1st-Chinese-lender-to-own-London-vault-370x208.jpg 370w, https://youngmindsonline.org/wp-content/uploads/2016/05/1st-Chinese-lender-to-own-London-vault.jpg 1024w" sizes="(max-width: 800px) 100vw, 800px" />                </header>
                <div class="entry-content">
					<p>China&#8217;s ICBC, the world&#8217;s biggest bank by assets, is buying a massive vault in London as it looks to grow its gold and precious metals business.<br />
It will be the first Chinese lender to own a vault in London.<br />
The vault, which is in a secret location, is being sold by Barclays and can hold up to 2,000 metric tons of gold, silver, platinum and palladium.<br />
ICBC&#8217;s purchase will give it more influence over the trading, pricing and storage of precious metals.</p>
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