Hong Kong Gold Central Clearing System operates today, Hong Kong Stock Exchange exempts gold futures fees for one year.

The Hong Kong Gold Market welcomed a milestone upgrade. On July 7th, Hong Kong Chief Executive John Lee Ka-chiu announced that the Hong Kong Gold Central Clearing System started trial operation today, and the first gold trade settlement has been completed. The day before (July 6th), John Lee Ka-chiu met with the Governor of the People's Bank of China, Pan Gongsheng, and clearly stated that the SAR government is actively promoting the establishment of the Hong Kong Gold Central Clearing System to attract gold spot storage, clearing, and delivery in Hong Kong. The new system has been synchronized with a delivery connection to the Shanghai Gold Exchange. Previously, the Shanghai Gold Exchange had agreed to absorb the Hong Kong Precious Metals Central Clearing System Limited as its international member. The government also announced tax preferential treatment for gold trading and settlement to eliminate cost barriers for institutional investors. In addition, HKEX has issued a notice to gold traders, announcing the exemption of USD gold futures trading fees from July 6th for a year to align with the launch of the new system and activate the local gold futures market. In the past, Hong Kong mainly played the role of a "physical transit station" for gold, with limited space for this role. With the official operation of the Gold Central Clearing System and the fee exemption, the market generally believes that Hong Kong is taking a key step towards building an "Asian gold futures pricing center." Hong Kong Financial Secretary Paul Chan previously revealed that the Hong Kong government aims to surpass 2,000 tons of gold and precious metal storage in the next three years.