China Plans to Help Bullion Producers Expand Overseas, Central Bank Says

China, the world’s largest gold producer, will support overseas investment plans by “large- scale” bullion companies by backing them financially, the People’s Bank of China said. Banks should extend credit lines to gold producers and offer loans for overseas acquisitions, the central bank said today in a statement on its website. The government will “support” the companies when they issue corporate bonds and help reduce financing costs, it said, without clarifying what that meant.