Hong Kong: Shanghai Gold Exchange has been invited to participate in the establishment of the Hong Kong Gold Central Clearing System, and is currently discussing cooperation plans.

On October 30, according to media reports, the Hong Kong Special Administrative Region Government has invited the Shanghai Gold Exchange to participate in the establishment of the Hong Kong Gold Central Clearing System and is actively negotiating on the specific cooperation plans with the Shanghai Gold Exchange. It is reported that the Shanghai Gold Exchange launched its first offshore gold delivery warehouse in Hong Kong in June this year. Currently, Hong Kong is accelerating the construction of an international gold trading center. The next step is to aim to exceed 2,000 tons within three years, establish a regional gold reserve hub, and conduct research with the mainland on processing imported gold, refining it, and exporting it to Hong Kong for trading and delivery purposes, while also enriching gold investment instruments. A spokesperson for the Financial Services and the Treasury Bureau of Hong Kong stated that they look forward to gradually building a complete ecosystem by increasing demand for related supporting services such as insurance, testing certification, logistics, etc., and concurrently expanding related derivative transactions such as collateral, borrowing, hedging, etc. This will drive the comprehensive, multi-currency trading, clearing, delivery, and regulatory system, including trading in offshore renminbi, forming a complete gold trading center and related industrial chain.