Hong Kong is stepping up efforts to establish a central gold clearing system.

Today, the Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, published a blog post stating that the government is stepping up efforts to establish a gold central clearing system. They will sign a cooperation memorandum with the Shanghai Gold Exchange at the 19th Asian Financial Forum on January 26-27 and announce the latest plan to strengthen the construction of the gold central clearing system. This is in preparation for future connectivity with the mainland market.