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HK May Reportedly Launch New Gold Clearing System in Jul
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Hong Kong plans to launch a new gold clearing system in July to advance its role as a global gold trading hub, Bloomberg reported, quoting people with the knowledge of the matter. The system is said to model the financial infrastructure of London, the world's largest precious metals market, allowing market participants to conduct trade settlement through unallocated accounts. Hong Kong has reportedly invited several central banks with friendly ties to China to participate in the clearing system. The initiative has also generated strong industry interest, particularly among trading companies and financial institutions seeking alternative channels in Asia for gold trading. The Financial Services and the Treasury Bureau of Hong Kong stated that preparatory work has entered the final stage, with a pilot run of the clearing system scheduled to begin within this year. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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