The reform of China's gold market is only part of the reform and opening-up work. China began to implement the reform and opening-up policy in 1979, and institutional reform was the first thing to be done in the economic reform process. Entering the 1980s, pricing reform was put on the reform agenda, but the reform of China's gold market was not launched until more than ten years later, in 1993. By the eighth five-year plan period, national policies were still aimed at stabilizing gold control mechanisms, not promoting reform of the gold market. The specific goal at the beginning of the reform of China's gold market was only to transform gold trading from unified collection and distribution through the People's Bank of China to free market trading, and to build a commodity gold market, while defining China's gold market as part of China's financial market did not happen until ten years after the reform of China's gold market began, in 2002. This year, the goal of reform of the gold market was modified from building a commodity gold market to building a financial gold market.
