Hong Kong Treasury: Building a Commodity Trading Ecosystem with Developing an International Gold Trading Market as a Starting Point

According to the Smart Finance and Economics app, on June 10th, Hong Kong Financial Secretary Paul Chan spoke at the Legislative Council meeting on the motion proposed by Legislator Christopher Cheung to "promote the development of the commodity trading ecosystem and the development of physical delivery futures market." Chan stated that the Hong Kong government is using the development of the international gold trading market as a starting point to build the commodity trading ecosystem. Gold and precious metals have both commodity and financial attributes, and the Hong Kong Treasury is actively promoting the expansion of gold storage capacity in Hong Kong by the Airport Authority and financial institutions, as well as the establishment of a Hong Kong Gold Central Clearing System to provide efficient and reliable clearing services for international gold trading. Building on the advantages of the gold trading market, the Hong Kong Treasury will study the feasibility of gradually extending related trading and storage experiences to other precious metals, such as silver, and other commodities in order to gradually construct a complete commodity industry chain.