The Hong Kong Gold Exchange held its first inauguration ceremony of the board of directors and the 115th anniversary celebration of the establishment of the Hong Kong Gold and Silver Exchange today (18th). Chairman of the Hong Kong Gold Exchange Dr. Haywood Cheung, Chief Executive John Lee, were all present. John Lee pointed out that the government has set up a working group to discuss optimizing gold trading and increasing inventory.
As forDr. Haywood Cheung, he said that the Gold Exchange has set four major development strategies, including expanding into the Middle East and ASEAN markets and promoting the digitalization of gold assets in the future.

In his speech, Dr. Haywood Cheung first opened his speech by citing the yellow rain reported by the Observatory this morning, pointing out that people working in the gold and silver industry value feelings, so the activities will continue regardless of weather conditions, and their feelings are stronger than gold.

Set four major development strategies

He pointed out that last year, John Lee proposed in his policy address to promote Hong Kong to become an international gold trading centre, which encouraged the industry. The Gold Exchange was established at the beginning of this year and is actively seizing expansion opportunities. In the future, the gold exchange has set four major strategies, including a China portal, which will leverage the advantages of "one country, two systems" to consolidate Hong Kong's role as a bridge between the international gold market and mainland capital. At the same time, Hong Kong, as the golden super contact person of the Belt and Road Initiative, strengthens its position as a golden bridge between the East and the West.

Dr. Haywood Cheung also pointed out that in the future, gold will go beyond the physical form and develop towards digitalization, digitization, tokenization and popularization. He also said that in response to global demands for ESG integrity, members of the gold exchange and approved gold refiners will comply with international procurement standards and trading platforms.

He also pointed out that in January this year, Hong Kong was included in the London Metal Exchange (LME) global network library, and eight local recognized warehouses were put into service this week, which will help promote the coordinated development of Hong Kong as an international financial, shipping and trading center.

Source: HK01