The Shanghai Gold Exchange has announced that platinum trading will begin in October.

The exchange is currently accepting applications, which are automatically open to existing members of the gold trade.

Platinum trading was given the go ahead by the People's Bank of China in March, but has been delayed by drafting procedures, membership qualifications and the Sars outbreak.

According to Wang Yongqing, vice president of the Gemmological Association of China, memberships should be completed and settled down in the next few months.

The Shanghai Gold Exchange will be the only place for legal platinum trading on which import tariffs set by the Chinese government, will be returned to importers.

So far around 50 applications for platinum trading have been made, the China Daily reported, citing officials at the exchange.