Hong Kong Investment Department: Linking the Asian Gold Market, Hong Kong Creates a New Platform for Regional Gold Industry Cooperation

Zhitong Finance App learned that the Investment Promotion Department (Hong Kong Investment Department) of the Hong Kong Special Administrative Region Government recently participated in the “Lao Gold Festival”. Wang Guofan, head of transportation, logistics and industry, was invited to attend a special discussion on “Connecting the Asian Gold Market” to have an in-depth exchange of views on market trends and cross-border cooperation with regional financial institutions, refiners and gold industry representatives. This event is another practical step for the two sides to deepen cooperation in the field of gold and financial services following the signing of a memorandum of cooperation between the Hong Kong Special Administrative Region Government's Financial Services and Treasury Bureau and the Lao Ministry of Finance in July this year.

According to the Hong Kong Investment Department, the development of an international gold trading center in Hong Kong has three core advantages:

1. Stable and mature market liquidity and infrastructure - perfect trading, clearing system and safe and reliable warehousing facilities;

2. International networks are closely interconnected - connect with refined networks approved by the London Bullion Market Association (LBMA) to build a highly specialized service ecosystem;

3. Efficient and flexible cross-border asset allocation — with superior geographical location, connecting mainland, Asian and global markets to provide producers, traders and investors with an efficient financing, settlement and risk management platform.

Currently, the country's “15th Five-Year Plan” clearly supports the consolidation and enhancement of Hong Kong's status as an international financial center. Hong Kong is actively playing the dual role of a “super contact” and a “super value-added person” to continuously improve the gold and commodities trading ecosystem. The Hong Kong Investment Department will continue to assist regional enterprises to make good use of the Hong Kong platform to expand their business, connect with global capital, and work together to promote the high-quality development of the Asian gold and metals industry.