John Lee: Hong Kong and Shanghai to Launch Gold Clearing Connectivity in Q1 Next Year

Hong Kong Special Administrative Region Chief Executive John Lee Ka-chiu continued his Shanghai visit today (November 6), meeting with Shanghai Mayor Zhu Zhongming to exchange views. John Lee Ka-chiu said that the Hong Kong Precious Metals Central Clearing System Limited and the Shanghai Gold Exchange launched the first phase of physical connectivity this year, and that Hong Kong's central gold clearing and settlement system will officially commence operation in the first quarter of next year. The two places will continue to advance mutual connectivity in the gold market to achieve mutual benefit and win-win outcomes. He mentioned that the Hong Kong SAR Government is actively advancing the building of "four centers and one highland," which is highly aligned with Shanghai's direction of building "five centers," further realizing the complementary advantages of the "twin engines." Hong Kong will continue to deepen the work of the dedicated task force for mainland enterprises going global, providing comprehensive support to more mainland enterprises, including those in Shanghai, in expanding their markets. John Lee Ka-chiu said that Hong Kong and Shanghai have always cooperated closely. This year, more than 400 Hong Kong enterprises participated in the ninth China International Import Expo, the highest number in history, and the Hong Kong sub-forum of the Hongqiao International Economic Forum was successfully held, with in-depth discussions on Hong Kong's new opportunities during the "15th Five-Year Plan" period. He expressed the hope that the two places will continue to deepen cooperation.