Major personnel appointment announced! Chen Bingqiang appointed as the first Chief Executive Officer of Hong Kong Gold Settlement Company.

Hong Kong Gold Central Clearing System Company Limited (HKGCSC) announced today (September 28) the appointment of Chen Bingqiang as its first Chief Executive Officer for a three-year term. Chen Bingqiang will assume office on October 2. The appointment was recommended to the board of directors of HKGCSC by the selection committee based on the results of a global open recruitment exercise, and was approved by the board. Chen Bingqiang will lead HKGCSC in overseeing and promoting the operation and development of Hong Kong's central gold clearing and settlement system, including providing efficient and reliable clearing and settlement services for over-the-counter gold trading, working closely with upstream and downstream participants in the industry chain such as refiners and financial institutions to leverage synergies, and jointly building with the Hong Kong government a comprehensive gold trading ecosystem in Hong Kong that meets international standards. Xu Zhengyu, Chairman of the Board of HKGCSC and Secretary for Financial Services and the Treasury of Hong Kong, said: "The National 15th Five-Year Plan Outline explicitly supports Hong Kong in building a commodity trading ecosystem. The First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (20262030) and the 2026 Policy Address also point out that Hong Kong is using gold as an entry point for developing commodities, and the gold market is showing strong momentum with opportunities everywhere." "Mr. Chen has in-depth knowledge and rich experience in financial markets, market infrastructure, and government operations, and possesses outstanding management and leadership capabilities. The Hong Kong Gold Central Clearing and Settlement System (the System) will officially commence operation in the first quarter of next year. At this critical juncture, Mr. Chen is shouldering an important responsibility. I firmly believe he will lead HKGCSC in continuously optimizing the operation of the System, working closely with stakeholders from all sectors to bring greater convenience to global market participants in Hong Kong's gold market development, and enhancing the influence of Hong Kong's gold trading ecosystem in the Asian time zone." Chen Bingqiang served as an Administrative Officer in the Hong Kong government from 1988 to 2000, and was formerly Principal Assistant Secretary of the Financial Services Bureau, responsible for securities and derivatives market policy and the merger and listing of Hong Kong Exchanges and Clearing Limited (HKEX). He joined HKEX in 2000 and was subsequently promoted to Managing Director and Co-Head of Equities and Fixed Income and Currency in the Global Markets Division.