H. Kong plans to emerge as global gold trading hub

Hong Kong aims to become a global trading centre for gold and other commodities, with plans to increase gold inventory facilities and develop related businesses like trading, insurance, and logistics.

The government will expand gold-related derivatives trading to meet mortgage and hedging needs. Chief Executive John Lee announced the formation of a working group to establish a global gold trading centre and enhance Hong Kong’s position as an international financial hub.

Additionally, the city will accelerate the development of non-metals commodities trading and study policies, including tax measures, to attract large commodities companies to set up offices in Hong Kong.

Attribution: Bloomberg

Subediting: M. S. Salama