The Financial Services and the Treasury Bureau announced July 7 the commencement of trial operation of Hong Kong’s new central clearing and settlement system for gold, together with targeted initiatives to build a modern gold trading ecosystem.
Initiatives include rolling out the initial phase of Delivery Connect with the Shanghai Gold Exchange, launching a new HAU price ticker, expanding storage capacity, diversifying gold investment products, exploring tax incentives, and enhancing MPF investments in gold ETFs.
Chief Executive John Lee said the trial marks a significant step in developing Hong Kong’s gold trading infrastructure and bolstering the city’s role as a trusted international gold trading, clearing, and reserve hub.
The government-owned Hong Kong Precious Metals Central Clearing Company operates the system, offering services from gold deposits and withdrawals to OTC transaction settlements.