On the 22nd, the Secretary for Financial Services and the Treasury (Treasury) of the Hong Kong Special Administrative Region Government, Mr. Hui Cheng yu, stated that the entire industry chain of the Hong Kong gold market has been initially formed, and the government is actively building Hong Kong into an international center for gold trading, storage, clearing, and risk management. On the 22nd, the Finance and Treasury Bureau held a briefing on the development of the gold market, introducing the government's long-term strategy and overall direction for establishing an international gold trading market to the industry, covering multiple areas such as expanding warehousing, enhancing gold supply, building infrastructure, enriching investment tools, and developing a local gold trading ecosystem. Xu Zhengyu stated that the entire industry chain of the Hong Kong gold market has taken initial shape. With Hong Kong's position as an international financial center and its unique advantages of being backed by the motherland and connected to the world, the SAR government will continue to work closely with the industry to jointly build Hong Kong into an international center for gold trading, storage, clearing, and risk management. Xu Zhengyu said that the various measures introduced by the SAR government so far have made substantial progress. In terms of storage facilities, the Hong Kong Airport Authority has completed the first phase of expansion of the airport's precious metal storage facility, with a capacity of 200 tons, and is actively implementing plans to further expand to 1000 tons. Meanwhile, the Shanghai Gold Exchange has established its first offshore warehouse in Hong Kong. In addition, the Finance and Treasury Bureau has signed a memorandum of cooperation with the Shenzhen Local Financial Management Bureau to jointly build a deeply integrated regional golden ecosystem, laying the foundation for processing and trade cooperation between Hong Kong and Shenzhen. In terms of gold trading clearing, the Hong Kong Gold Central Clearing System, managed by a company wholly owned by the SAR government, plans to commence trial operation within 2026. The Chief Executive of the Hong Kong Special Administrative Region announced in the 2025 Policy Address the acceptance of the recommendations of the "Working Group on Promoting the Development of the Gold Market" and entrusted them to the Finance and Treasury Bureau for implementation. In addition, to support the establishment of gold industry organizations, the SAR government will set up a preparatory group. The preparatory group will have in-depth discussions on the composition, membership qualifications, and financial arrangements of industry organizations. Looking forward to further strengthening cooperation with the industry through the upcoming preparatory group. In the future, industry organizations will help deepen communication with the government and regulatory agencies, and play a key role in business development, domestic and international promotion, international cooperation, and talent cultivation, helping the Hong Kong gold market achieve long-term development. ”Xu Zhengyu said. (New Society)