Changes in Hong Kong stocks | Yabo Technology Holdings (08279) rose more than 10% in early trading, Hong Kong accelerates construction of an international gold trading center, TGX strengthens cooperation with HKFC

The Zhitong Finance App learned that Yabo Technology Holdings (08279) rose more than 10% in early trading. As of press release, it had risen 5.08% to HK$0.93, with a turnover of HK$26.4074 million.

According to the news, Hong Kong is speeding up the construction of an international gold trading center. On July 7, Hong Kong Special Administrative Region Chief Executive Li Jiachao announced that the Hong Kong Gold Central Clearing and Settlement System has officially begun trial operation. Chairman Zhang Dexi of the Hong Kong Gold Exchange pointed out that Hong Kong's development of an international gold trading center combined with the development of an offshore RMB center can complement each other. According to reports, Bank of China Governor Pan Gongsheng said in July this year that the central bank will continue to increase the asset allocation ratio of the country's foreign exchange reserves in Hong Kong.

It is worth noting that Goldchain Link Technology Co., Ltd. (TGX), a subsidiary of Yabo Technology, has set up a joint venture with the Hong Kong Gold Exchange to further promote the construction of a core platform for electronic trading, clearing and settlement of precious metals. As of the announcement, TGX has begun the first phase of development of the core platform. After the completion of the platform, the Hong Kong Gold Exchange now has all the gold bar trading, clearing, settlement services and supporting online electronic services, and plans to migrate the entire operation to this core platform.