黄金大年，银行开始增设"金库"。记者注意到，今年以来，工商银行先后在贺州、三亚落地布局黄金仓储业务。 上证报中国证券网讯（记者 常佩琦）黄金大年，银行开始增设"金库"。记者注意到，今年以来，工商银行先后在贺州、三亚落地布局黄金仓储业务。 多名受访人士认为，工行相关布局或旨在通过强化实物黄金基础设施布局，巩固其在贵金属业务领域的全产业链优势，同时降低黄金交易交割成本，服务区 域黄金产业集群发展。 工行密集落地黄金仓储业务 上海黄金交易所近日发布的公告显示，根据上海黄金交易所黄金业务开展的实际情况，决定设立工行三亚分行指定仓库开展黄金仓储业务。 这也是工行年内第二次落地黄金仓储业务。据记者梳理，此前，上海黄金交易所曾在9月23日公告称，决定设立工行贺州分行指定仓库开展黄金仓储业务。 上述公告发布不到一个月，相关仓库便火速启用。记者了解到，10月21日，上海黄金交易所工行贺州分行指定仓库启用仪式、指定仓库首单黄金交割仪式在 贺州市举行。 实物仓储业务，是指为上海黄金交易所会员及客户参与交易交割业务的实物提供仓储服务，由交易所统一调运配送，方便会员就近入库、就近提货出库。 据工行贺州分行相关人士介绍，上海黄金交易所工 ...

Core Insights - MKS PAMP has established a new regional headquarters in Hong Kong to leverage the city's status as an international gold trading center and expand its business in the Asia-Pacific region [1] - The opening ceremony was attended by senior management from MKS PAMP, representatives from the Hong Kong Investment Promotion Agency, and key stakeholders from the financial and precious metals industries [1] - The new headquarters in Central Hong Kong will position MKS PAMP as one of its three global trading hubs, alongside Geneva and New York, providing seamless and round-the-clock services to clients across major time zones [1] Company Strategy - MKS PAMP has been operating in Hong Kong for many years, establishing a local office and building strong relationships with clients [1] - The company views Hong Kong as a critical gateway to the Chinese gold market and a core hub for expanding its precious metals business in the Asia-Pacific region [1] - MKS PAMP is expanding its team in Hong Kong and the Asia-Pacific region to align with its business growth strategy, with the headquarters responsible for sales, client relationship management, precious metals trading, financial management, and operational support [1] Government Support - The Hong Kong Investment Promotion Agency's acting director expressed satisfaction in assisting MKS PAMP's expansion, reinforcing Hong Kong's position as an international financial center and aligning with government efforts to promote the city as an international gold trading hub [1] - MKS PAMP's expansion is seen as a testament to Hong Kong's attractiveness for global companies looking to expand their business in the Asia-Pacific region [1]

香港特区政府投资推广署发文称，黄金市场的增长潜力正日益显现。2025年第二季度，全球黄金总需求 按价值计同比上升45%，达到1,320亿美元;与此同时，全球官方黄金储备增加166吨，代表着各国央行持 续将黄金视为稳定资产的基石。而黄金作为全球认可的稳定资产，具备实体商品与金融投资的双重属 性，正正契合香港作为国际金融中心的定位，因此成为香港政策部署的重要方向。 随着全球市场对黄金的需求上升，香港也把握机遇，已于《2025年施政报告》中，提出加速黄金交易市 场发展的政策方向，继续朝着建设国际黄金交易中心的目标稳步前行： 持续推动香港机场管理局及金融机构在香港拓展黄金仓储，目标三年内容量可超过2,000吨，以此建造 区域黄金储备枢纽； 推动黄金供应商在香港建立或扩建精炼厂，并与中国内地研究在内地进行来料加工，精炼黄金后出口至 香港作交易及交割用途； 建立香港黄金中央清算系统，为国际标准黄金交易提供高效可信的清算服务，同时邀请上海黄金交易所 参与建设，为未来与中国内地市场互联互通做好预备工作； 继续丰富黄金投资工具，协助发行人发行黄金基金，鼓励新产品开发，如代币化黄金投资产品等； 成立专责小组方面，香港作为国际金融 ...

Group 1: Market Overview - The Hang Seng Index has faced pressure, dropping 284 points or 1.12% to close at 25058, marking a three-day decline totaling 558 points or 2.2% [3] - The index opened high at 25489, briefly rising to a mid-day high of 25494 before reversing direction and falling below the 20-day moving average [3] - The total market turnover for the day was 3022.33 million [3] Group 2: Company News - BYD has reportedly lowered its annual sales target by 16% to 4.6 million vehicles, indicating the slowest sales growth in nearly five years [11][12] - The revised sales target is below recent forecasts from several institutions, with Deutsche Bank estimating 4.7 million and Morningstar predicting 4.8 million [12] - Yum China plans to repurchase approximately 270 million USD of its common stock by the end of 2025, building on previous repurchase agreements [13]

Core Insights - Hong Kong is actively seeking new breakthroughs in the international financial system amidst changing global geopolitical dynamics, focusing on strengthening market ecology, promoting financial innovation, and integrating with the real economy [1][2][3] Group 1: Gold as a Strategic Asset - Gold is recognized globally as a safe-haven asset with dual attributes of a physical commodity and a financial investment, aligning well with Hong Kong's positioning as an international financial center [1][2] - The Chief Executive's 2024 Policy Address highlights the establishment of a commodity trading ecosystem centered around gold, aiming to expand the storage and delivery of physical gold in Hong Kong [1][2] Group 2: Market Demand and Growth Potential - Global demand for gold is expected to rise, with a projected 45% year-on-year increase in total gold demand by value, reaching $132 billion by Q2 2025 [3] - The demand for gold ETFs has remained strong for two consecutive quarters, with investment in gold bars and coins reaching the highest level since 2013 [3] Group 3: Infrastructure and Development Initiatives - The Hong Kong International Airport has increased its precious metal storage capacity by one-third to 200 metric tons, with plans to expand to 1,000 metric tons to support gold trading and logistics [4] - The Shanghai Gold Exchange will launch its international board designated warehouse in Hong Kong by June 2025, marking a significant step in internationalizing the gold market [4] Group 4: Strategic Positioning and Future Outlook - The growth potential of the gold market is becoming increasingly evident, with central banks adding 166 tons to their official gold reserves in Q2 2025, indicating a continued preference for gold as a stable asset [5] - Hong Kong aims to build a diversified and internationally connected ecosystem for gold trading, enhancing its role in the global economic landscape [6]

Group 1 - The Hong Kong Stablecoin Regulation comes into effect this month, with a clear positioning of stablecoins as a payment tool and an alternative representation of fiat currency, eliminating speculation opportunities [1] - The cost of payments through the banking system may reach 3%, while the use of stablecoins is expected to lower costs to 1%, thereby reducing cross-border payment costs and enhancing economic efficiency [1] - The Hong Kong government is actively planning the development of the city as an international gold trading center, starting with warehousing and including new designs for trading and settlement [1] Group 2 - The "Interconnection" mechanism will celebrate its 11th anniversary, with a focus on continuously enriching and expanding varieties under a safe and controllable risk framework [1] - There are plans to promote the inclusion of real estate investment trusts into the interconnection mechanism, pending discussions with mainland authorities [1]

Core Viewpoint - The Hong Kong government is actively working to establish an international gold trading center as part of its broader strategy to enhance its status as a global financial hub [1][3][4]. Group 1: Government Initiatives - The Hong Kong government has formed a dedicated task force to review all aspects related to gold financial transactions, aiming to support the development of Hong Kong as an international gold trading center [1][4]. - The Chief Executive of Hong Kong announced plans to build a commodity trading ecosystem and establish an international gold trading market in the 2024 policy address [3][4]. - The Hong Kong Airport Authority is planning to expand its precious metals storage facilities to support the government's initiatives [3]. Group 2: Market Development - A working group led by the Secretary for Financial Services and the Treasury has been established to comprehensively review gold market aspects, including supply and demand, product development, and logistics [4]. - The government aims to enhance gold storage facilities and expand related financial services such as insurance and certification, creating a complete ecosystem for gold trading [4][5]. - The Shanghai Gold Exchange is set to launch its first offshore gold delivery warehouse in Hong Kong, marking a significant step in the internationalization of China's gold market [4]. Group 3: Market Demand and Opportunities - There is a growing demand for gold storage and trading in Hong Kong, driven by geopolitical uncertainties and the need for investors to store physical gold in various regions [5]. - The evolving global supply chain and the emergence of innovative financial technologies are closely linked to Hong Kong's ambition to strengthen its position as an international financial center [5].

Group 1 - The integration of supply chains and the reshaping of trade patterns present new development opportunities for Hong Kong's trade, shipping, finance, and professional services [1][2] - Hong Kong's exports to Vietnam and Malaysia increased by over 50% and 30% respectively in the first half of this year, with ASEAN becoming Hong Kong's second-largest trading partner, rising from 12.1% of total trade in 2021 to 14.8% in the first half of this year [2] - The establishment of a "bulk commodity trading ecosystem" is progressing, with Hong Kong successfully joining the London Metal Exchange's global warehouse and delivery network, enhancing connections with active metal trading markets [2][3] Group 2 - The recognition of warehouses in Hong Kong by the LME improves the efficiency of non-ferrous metal allocation and reduces logistics time and costs, while stabilizing the supply of key metal resources in the region [3] - The trading and delivery activities of bulk commodities in Hong Kong will increase demand for related shipping services and promote the development of trade financing, insurance, risk management, and derivative financial services [3] - The Hong Kong government is actively promoting the establishment of multinational supply chain management centers, making Hong Kong a preferred platform for companies looking to expand internationally [4]

Group 1 - The integration of supply chains and the reshaping of trade patterns present new development opportunities for Hong Kong's trade, shipping, finance, and professional services [1][2] - Hong Kong's exports to Vietnam and Malaysia increased by over 50% and 30% respectively in the first half of this year, with ASEAN becoming Hong Kong's second-largest trading partner, rising from 12.1% in 2021 to 14.8% in the first half of this year [2] - The establishment of a "bulk commodity trading ecosystem" is progressing steadily, with Hong Kong joining the London Metal Exchange's global warehouse and delivery network, marking a significant milestone [2][3] Group 2 - The recognition of LME warehouses in Hong Kong enhances the efficiency of non-ferrous metal allocation, reduces logistics time and costs, and stabilizes the supply of key metal resources in the region [3] - Since becoming an LME delivery point in January, eight approved warehouses have been operational, with over 8,000 tons of LME registered warrants supporting LME contract delivery by early August [3] - The Hong Kong government is actively promoting the establishment of multinational supply chain management centers, positioning Hong Kong as a preferred platform for companies looking to expand internationally [4]

Group 1 - Hong Kong is advancing its strategy to establish a commodity trading ecosystem, focusing on becoming an international gold trading center [1][3] - The Hong Kong government has formed a dedicated task force to review all aspects related to gold financial transactions and promote the development of an international gold trading center [1][3][4] - The Hong Kong International Airport is planning to expand its precious metal storage facilities to support the construction of an international gold trading center [3][4] Group 2 - The government aims to enhance gold storage facilities while expanding related financial services such as insurance, certification, and logistics, creating a comprehensive ecosystem for gold trading [4][6] - The demand for gold storage and trading in Hong Kong has significantly increased, driven by geopolitical uncertainties and the need for secure storage options [6][7] - The establishment of an international gold trading center is seen as a new opportunity to reinforce Hong Kong's status as a global financial hub [5][7]