Chen Maobo: The Hong Kong Stock Exchange is preparing the RMB physical gold futures gold clearing system and is expected to launch in the first quarter of next year

The Zhitong Finance App learned that Hong Kong's Financial Secretary Chen Maobo said in his speech at the Hong Kong International Financial Leaders Investment Summit that Hong Kong plans to expand its gold storage capacity to more than 2,000 metric tons within three years, and that central banks and international investors are welcome to store gold in Hong Kong. The Hong Kong Gold Central Clearing and Settlement System is expected to be launched in the first quarter of next year. The Hong Kong Stock Exchange is preparing to launch new gold futures denominated in RMB with physical settlement to consolidate the infrastructure of the Hong Kong International Gold Exchange Center.

Chen Maobo said that artificial intelligence brings development opportunities comparable to factory electrification in the late 19th century; in addition to reducing costs and improving efficiency in existing business processes, AI's deeper value lies in reshaping product forms, organizational structures, and business models.

He mentioned that the Hong Kong government will provide full chain support for innovative enterprises at different stages of development. The Hong Kong Open Market opens up international capital for enterprises. On the one hand, the A+H dual listing mechanism helps mainland enterprises connect with global investors, and on the other hand, facilitates international investors to share the dividends of the Chinese market growth. Hong Kong is positioned not only to provide a financing platform for foreign companies, but also to focus on cultivating local innovative enterprises. The northern metropolitan area is the core hub for nurturing the science and innovation industry.

Another key direction for Hong Kong is to expand connectivity across economies and asset classes, continue to deepen ties with the global South, cover Southeast Asia, the Middle East, Central Asia and other regions, and transform bilateral economic and trade cooperation into real investment channels. He welcomed Southeast Asian companies such as Indonesia, Thailand, and Malaysia to go public in Hong Kong.