In his 2024 Policy Address, Chief Executive John Lee stated, "We will leverage the mechanisms and supporting advantages of an international financial center to build an international gold trading center." "In Hong Kong, regulated gold trading has existed for over 100 years. We have internationally standardized gold verification centers, professionally accredited refiners, a strictly regulated precious metals practitioner registration system, and gold products with their own Hong Kong brands, forming a complete gold ecosystem," explained Brian Fung, CEO of the Hong Kong Gold Exchange, describing the Exchange's advantages.

In the 1970s and 1980s, Hong Kong was already a hub for gold trading in Asia and globally. However, facing new competitors, continuously upgrading its supporting industries is crucial to rebuilding Hong Kong's status as an international gold trading center.

Hong Kong Gold Exchange Chairman Haywood Cheung further added, "We propose expanding the capacity of the existing airport vaults, while simultaneously constructing new warehouses in the northern metropolitan area near Shenzhen's jewelry processing base. We also propose launching a 'Gold Commodity Connectivity' between the two places, building a 'Belt and Road' gold corridor, and exploring feasible methods for gold transaction settlement using offshore RMB. These initiatives directly respond to President Xi Jinping's principle of 'developing unique advantages and strengthening internal and external connectivity' for the Hong Kong and Macau Special Administrative Regions." Regarding the SAR government's plan to establish an "International Gold Central Clearing System,"

Professor Larry Poon, Honorary Professor of the Asia-Pacific Institute of Business and Technology at the Chinese University of Hong Kong, suggested, "The central clearing system should ideally be designed by the government as the chief architect, establishing regulatory frameworks to safeguard the last line of defense, rather than rushing to the front lines. This system should serve as a counterparty for all participants, allowing more private institutions to join through the establishment of a joint-stock company, market-driven, enabling participants to conduct gold trading in Hong Kong with greater confidence, freedom, and efficiency."

Socrue : TVB
(Chinese Only – English Version translate by AI)