Paul Chan: HKEX is preparing RMB physical gold futures; gold clearing system expected to go live in Q1 next year

Speaking at the Global Financial Leaders' Investment Summit, Financial Secretary Paul Chan Mo-po said Hong Kong plans to expand its gold storage capacity to more than 2,000 metric tonnes within three years and welcomes central banks and international investors to store gold in the city. The Hong Kong Gold Central Clearing and Settlement System is expected to go live in the first quarter of next year, and HKEX is preparing to launch a new RMB-denominated gold futures contract with physical delivery, strengthening Hong Kong's infrastructure as an international gold trading hub. Paul Chan Mo-po said artificial intelligence presents development opportunities comparable to the electrification of factories in the late 19th century; beyond cutting costs and boosting efficiency in existing business processes, AI's deeper value lies in reshaping product forms, organizational structures and business models. He noted that the Hong Kong government will provide full-chain support for innovative enterprises at different stages of development. Hong Kong's public market connects companies with international capital, and the A+H dual-listing mechanism helps mainland enterprises reach global investors while making it easier for international investors to share in the growth dividends of the Chinese market. Hong Kong's positioning goes beyond providing a financing platform for non-local companies; it is also focused on nurturing local innovative enterprises, with the Northern Metropolis serving as the core hub for cultivating the innovation and technology industry. Another key direction for Hong Kong is expanding connectivity across economies and asset classes, continuously deepening ties with the Global South, covering Southeast Asia, the Middle East, Central Asia and other regions, and translating bilateral economic and trade cooperation into substantive investment channels. He welcomed companies from Southeast Asia, including Indonesia, Thailand and Malaysia, to list in Hong Kong.