HKEX: Will successively launch more investment products in commodities such as precious metals denominated in RMB

HKEX (00388) Managing Director and Head of Markets Wilfred Yiu, speaking at the "2026 Treasury Markets Summit," said that a RMB-denominated gold futures contract settled in Hong Kong is expected to be launched early next year, and that more investment products in commodities such as precious metals denominated in RMB will be rolled out successively to enrich the choices of RMB-denominated assets. He mentioned that the Hong Kong Monetary Authority and the Securities and Futures Commission jointly formulated a roadmap for the development of the fixed income and currency markets last year, many details of which have been implemented through HKEX, and noted that the 5-year government bond futures launched in August this year saw open interest rise from about 900 contracts in the first week of launch to nearly 3,000 contracts currently, attracting market participants from the Middle East, Europe, the United States, and Southeast Asia, reflecting that this is a direction worth developing. HKMA Assistant Chief Executive Howard Ho said that the biggest challenge in promoting the internationalization of the RMB is that the international community remains accustomed to using the US dollar, and that enterprises also lack corresponding treasury management and financing tools. He pointed out that some banks provide customized solutions for major clients, and believed that banks could turn these solutions into off-the-shelf products and then promote them to other clients.