Hong Kong forges gold market ties with Uzbekistan

Uzbekistan’s central bank eyes participation in HK’s precious metals operations.

Hong Kong and Uzbekistan have exchanged an agreement to foster closer gold market co-operation between the two sides.

Secretary for Financial Services and the Treasury Christopher Hui and Deputy Chairman of the Central Bank of Uzbekistan (CBU) Abror Mirzo Olimov exchanged the memorandum of understanding (MOU) at the Belt and Road Summit 2026 on 9 September.

The MOU provides a structured framework to explore how Hong Kong's international financial platform and precious metals market infrastructure can complement Uzbekistan's strengths as a major gold-producing and reserve-holding jurisdiction.

Both sides will collaborate on key areas of mutual interest, including exchanging information, knowledge and experience on the gold and precious metals market and operating related financial market infrastructure.

The MOU also covers services provided by the gold central clearing and settlement system of the Hong Kong Precious Metals Central Clearing Company Limited (HKPMCC).

It also covers opportunities and conditions for the CBU's potential participation in precious metals operations in Hong Kong through the HKPMCC.

“The National 15th Five-Year Plan Outline explicitly supports Hong Kong in building a comprehensive commodity trading ecosystem,” Hui said.

Olimov said Uzbekistan “places great importance on diversifying and strengthening the infrastructure that supports our precious metals sector.”

The MOU follows a visit to Central Asia in June by a high-level Hong Kong delegation led by the Chief Executive. Uzbekistan is one of the world's gold-rich countries by production, geological endowment and official holdings.

Hui and Uzbekistan Prime Minister Abdulla Nigmatovich Aripov co-hosted a roundtable with the Hong Kong financial sector and companies.

Participants discussed deepening practical co-operation and exploring concrete investment opportunities in Uzbekistan, with a focus on expanding Hong Kong enterprises' international footprint and establishing long-term strategic partnerships.

The Financial Services and Treasury Bureau also hosted a bilateral meeting with the CBU on 10 September to discuss in detail the areas outlined in the MOU.