In response to Hong Kong's "Gold Center" blueprint, Standard Chartered is conducting research on establishing its own gold storage facility.

The Hong Kong government is actively promoting Hong Kong to become an international gold trading center. Stanley Cheung, head of Financial Markets and Strategic Clients for Standard Chartered Bank in Hong Kong, Greater China, and North Asia, stated that in response to the Hong Kong government's policies and customer demands, Standard Chartered is studying the feasibility of establishing a gold storage facility in Hong Kong and considering different location options. The Hong Kong government established the "Hong Kong Precious Metals Clearing Limited" in January this year, with Standard Chartered Hong Kong being one of the board members. Cheung stated that Standard Chartered is one of the three major participants in the Asian gold trading market and one of the few foreign banks with a gold trading department in Hong Kong. Standard Chartered has maintained close communication with the Hong Kong government and fully supports the government's policy goal of developing Hong Kong into an international gold trading center. Cheung also mentioned that Standard Chartered currently provides physical gold trading and related options financing services to corporate and investment bank clients in Hong Kong. If Standard Chartered establishes its own gold storage facility in Hong Kong, Hong Kong is expected to become the group's first market with a self-owned gold storage facility, making it one of the few banks with self-owned storage facilities in Hong Kong. He emphasized that this move not only confirms the strategic importance of Hong Kong as a market for the group but also aligns with government policies and responds to customer demands. If the gold storage facility is established, Standard Chartered Hong Kong can expand its trading and settlement services to include comprehensive gold trading services. The international spot gold price reached a new high of $5596 per ounce at the end of January this year. Cheung stated that Standard Chartered Hong Kong recorded a high double-digit growth in gold-related revenue in the first quarter of this year. He pointed out that since the rise in gold prices, customer interest and inquiries about gold have increased, reflecting their interest in gold trading centers outside of London and in Asia. With Hong Kong enhancing its gold trading market infrastructure, it is expected that there will be a certain demand for gold from customers in the future, and Standard Chartered will consider expanding its gold trading team to meet business needs.