2024 Policy Address: HK sets sights on becoming int’l gold trading centre

A working group will be formed to establish an international gold trading centre.

Chief Executive John Lee said he aims to transform Hong Kong into an international gold trading centre.

In his 2024 Policy Address, Lee highlighted the city's ranking as the third-largest global financial hub and the top investment environment.

He also emphasised Hong Kong's appeal as a prime location for gold storage, which is expected to stimulate related activities, including gold trading, settlement, and delivery.

“The government will promote the development of world-class gold storage facilities, facilitating the storage and delivery of spot gold by users and investors in Hong Kong, and driving demand for related services such as collateral and loan businesses, opening up new growth areas of the financial sector,” he said.

To advance these goals, the Financial Services and the Treasury Bureau (FSTB) will establish a working group dedicated to creating an international gold trading centre.

“This will include, among other things, strengthening the trading mechanism and regulatory framework, promoting application of cutting-edge financial technology, and actively exploring with the Mainland authorities on the inclusion of gold-related products in the mutual market access programme,” Lee added.