Hong Kong Gold Exchange and Alibaba member companies cooperate to develop an international precious metals trading platform and settlement system.

Chairman Zhang Dexi of the Hong Kong Gold Exchange announced at the Chinese New Year Opening Ceremony that the Hong Kong Gold Exchange and the Alibaba (09988) member company, Asia Gold Technology (08279), will collaborate to develop an international precious metals trading platform and settlement system, as well as a digital commodity blockchain, including spot, futures, digital gold, B2C trading, clearinghouse OTC trading, and unified risk control and regulation of all systems. Zhang Dexi stated that over the past year, the Hong Kong Gold Exchange has optimized institutional corporate governance, increased institutional transparency, and actively engaged with international financial institutions, gold traders, and e-commerce companies. In the past few months, he has met with over 30 international gold companies to discuss cooperation opportunities or membership opportunities.