Hong Kong's Gold Central Clearing and Settlement System Commences Trial Operation

The Financial Services and the Treasury Bureau (FSTB) of the Government of the Hong Kong Special Administrative Region recently announced the official commencement of the trial operation of Hong Kong's new central clearing and settlement system for gold, together with a suite of targeted initiatives aiming to build a modern and full-chain gold trading ecosystem.

It is reported that the first batch of gold has been successfully deposited into the designated vault, and the first batch of trading and settlement activities has also been completed. The key market participants include banks and financial institutions, mining companies, refiners, jewellers, and others.

According to the FSTB, the targeted initiatives include rolling out the initial phase of Delivery Connect with the Shanghai Gold Exchange, launching a new HAU price ticker, expanding storage capacity and refining capability, diversifying gold investment products, exploring tax incentives, and establishing an industry-led trade association. These measures will collectively bolster Hong Kong's role as a trusted international gold trading, clearing, and reserve hub.