The inauguration ceremony of the first board of directors of the Hong Kong Gold Exchange (HKGX) and the 115th anniversary celebration dinner of the Hong Kong Gold and Silver Exchange were held today. HKGX Chairman Zhang Dexi announced a grand blueprint at the event, aiming to consolidate Hong Kong's position as the Asian precious metals gateway.

Five landmark agreements were signed during the ceremony, the International Hub Cooperation Memorandum, and the cooperation with China CITIC Bank (International) to carry out transaction fund settlement services. A physical gold business cooperation agreement was reached with Ant Bank (Macau). The signing of a memorandum with the Cambodia Derivatives Exchange marks the comprehensive strategic cooperation between the gold market in Hong Kong and Cambodia.

The Greater Bay Area Integration Memorandum, HKGX, Shenzhen United Financial Holdings Co., Ltd. and Jinjun Service Co., Ltd. jointly established a gold industry chain platform integrating trading, settlement, warehousing, data and logistics management to provide the Hong Kong market with an excellent cost-effective gold circulation system. Cooperate with the Guangdong Gold Association to play the role of Hong Kong as an international gold trading hub and the important role of Guangdong's gold and jewelry industry in the domestic industry, and strengthen industrial cooperation in the Greater Bay Area.

Zhang Dexi said that as the precious metals hub of Asia, the Hong Kong Gold Exchange has set "four major strategies" for the future. First, the China Gateway, the Gold Exchange will become an efficient and transparent channel to meet the needs of wealth preservation and currency diversification in the Mainland, and consolidate Hong Kong's role as a bridge between the international gold market and the Mainland capital. Second, the Belt and Road "Gold Super Contact", in line with the national strategy, strengthen Hong Kong's position as the "East-West Gold Bridge". Third, the digital revolution - a new era of gold, the future of gold will go beyond the physical, towards digitalization, digitization, tokenization and popularization. Fourth, the green gold industry and ESG leadership, in response to the global demand for ESG integrity, the Gold Exchange's subordinates and approved gold refiners will abide by international procurement standards and responsibilities.

Source: Hong Kong Economic Journal