Chen Haolian: The Hong Kong SAR Government is fully committed to making Hong Kong an international gold trading center. The goal is to have over 2000 tons of gold stored within 3 years.

Hong Kong Financial Times APP has learned that Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated at the Hong Kong Gold Exchange’s Lunar New Year opening ceremony that to further diversify Hong Kong’s international financial services, the government is actively promoting Hong Kong as an international gold trading center, attracting gold spot storage, clearing, and settlement in Hong Kong, and driving the development of related industries such as investment trading derivatives, warehousing, insurance, trade, and logistics. The government will continue to promote policy optimization, financial infrastructure, and technological innovation to attract more international capital and talent to Hong Kong, further strengthening Hong Kong’s role as a super connector and super value creator, proactively aligning with the 14th Five-Year Plan and serving the national development strategy, consolidating and enhancing Hong Kong’s position as an international financial center.

Chen Haolian stated that the goal is to surpass 2,000 tons of gold storage within three years, aiming to establish Hong Kong as a regional gold storage hub. He also actively promotes gold traders to establish or expand refining facilities in Hong Kong and has signed a memorandum of understanding with the Shenzhen Local Financial Supervision Bureau to support Hong Kong gold traders in accordance with laws and regulations. Through processing trade cooperation, they will use gold refining facilities established in Shenzhen to refine gold and then export it to Hong Kong for trading and settlement purposes. Additionally, efforts will be made to promote cooperation between the Shanghai-Hong Kong gold markets. The government-owned Hong Kong Gold Clearing System aims to commence trial operations within this year.