The Secretary for Financial Services and the Treasury Bureau (Treasury Bureau) of the Hong Kong Special Region Government, Xu Zhengyu, said on the 22nd that the entire industry chain of the Hong Kong gold market has been initially formed. The Government is actively transforming Hong Kong into an international centre for gold trading, storage, liquidation and risk management.
The Treasury Bureau held a briefing on the development of the gold market on the 22nd to introduce to the industry the government‘s long-term strategy and overall direction for establishing an international gold trading market. It covers various areas such as expanding storage, enhancing gold supply, building infrastructure, enriching investment tools and developing a local gold trading ecosphere.
Xu Zhengyu said that the entire industry chain of the Hong Kong gold market has been initially formed. With Hong Kong‘s status as an international financial center, as well as the unique advantages of relying on its homeland and being connected to the world, the HKSAR Government will continue to work closely with the industry to jointly build Hong Kong into an international center for gold trading, storage, liquidation and risk management.
Xu Zhengyu said that substantial progress has been made in the various measures introduced by the HKSAR Government so far. In terms of storage facilities, the Hong Kong Airport Authority has completed the first phase of expansion of the airport’s precious metal storage depot, with a capacity of 200 tonnes, and is actively implementing plans to further expand to 1,000 tonnes. At the same time, the Shanghai Gold Exchange has established its first offshore warehouse in Hong Kong. In addition, the Treasury Bureau has signed a memorandum of cooperation with the Shenzhen Municipal Financial Authority to jointly build a deeply integrated regional gold ecosphere, laying the foundation for the development of processing trade cooperation between Hong Kong and Shenzhen. In terms of gold transaction settlement, the Hong Kong Gold Central Settlement System, managed by a wholly owned company owned by the HKSAR Government, is planned to begin trial operation by 2026.
The Chief Executive of Hong Kong SAR announced in his 2025 Policy Address that he accepted the proposal of the “Gold Market Development Working Group” and handed it over to the Treasury Bureau for implementation. In addition, to support the establishment of gold industry organizations by the industry, the HKSAR Government will establish a preparation group. The preparation group will discuss in depth details such as the composition of the industry organization, membership qualifications and financial arrangements.
“We look forward to further strengthening cooperation with the industry through the upcoming preparation group. In the future, industry organizations will help deepen communication with governments and regulatory agencies, and play a key role in business development, domestic and overseas promotion, international cooperation and talent development, helping the Hong Kong gold market achieve long-term development,” Xu Zhengyu said.