许正宇透露，就发展香港成为国际黄金交易中心，邀请不同参与方召开两次会议，方向是从仓储开始， 并在顶层设计包括交易及结算方向有新建设。他补充，当局正全力规划本港在商品尤其贵金属方向的发 展。 他指出，通过银行体系支付的成本可能达3%，至于使用稳定币的成本可望降低至1%，并减低跨境支付 成本，提升经济运转效率。 另外，"互联互通"机制开通将踏入11周年。许正宇认为，在安全、风险可控管道下不断丰富和扩充种类 是大方向，同时会推进房地产信托基金纳入互联互通，但要与内地方面进行商讨。 智通财经APP获悉，香港《稳定币条例》本月起生效，香港财经事务及库务局局长许正宇8月24日表 示，香港对稳定币的定位清晰，是作为交付工具，是法定货币的另一种体现，不存在炒作机会。 ...

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]

香港特区政府财政司司长陈茂波17日发表网志称，供应链的整合和贸易形态的重塑，为香港的贸易、航 运、金融、专业服务等带来新的发展契机。此外，香港建设"大宗商品交易生态圈"的相关工作正稳步推 进，并将在年内公布推动香港发展成为国际黄金交易中心的相关方案。 陈茂波表示，国际地缘局势持续演变，美国关税措施将继续抑制环球贸易表现，而关税政策的不确定因 素则可能困扰企业信心、投资和供应链。宏观局势及科技变革虽然为经济前景带来了巨大挑战和不确定 性，却也同时存在庞大机遇。香港如果能抓紧机会，将经济转型过程中传统模式与新兴模式交替之间所 产生的张力，转化为促进经济升级转型的助力，将为香港创造新的增长点。 陈茂波以出口贸易为例，在地缘政治和关税战正重塑国际贸易格局和供应链布局的背景下，香港作为货 物的中转港，最近几个月的商品贸易均取得同比两位数的增长。这一方面固然反映部分出口商或赶在关 税战暂缓期间提前出货，但另一方面，亦折射出转变中的国际贸易格局，特别是区域贸易合作深化带来 的机遇。 数据显示，今年上半年，中国香港对越南和马来西亚的整体货物出口增幅分别超过五成和三成；而从这 两个地方进口的货值亦分别增长约七成和三成。东盟作为 ...

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]

Core Viewpoint - Hong Kong is strategically positioning itself to become an international gold trading center, enhancing its status as a global financial, shipping, and trade hub [1][3][4]. Group 1: Strategic Developments - The Hong Kong government has established a dedicated task force to review all aspects related to gold financial transactions, aiming to promote the development of an international gold trading center [1][3]. - The Hong Kong International Airport is planning to expand its precious metal storage facilities to support the establishment of international-grade gold storage [3][4]. - The government aims to create a comprehensive ecosystem for gold trading, including storage, insurance, certification, logistics, and related financial services [4][5]. Group 2: Market Demand and Opportunities - There has been a significant increase in demand for gold storage, trading, and delivery in Hong Kong, driven by geopolitical uncertainties and the desire for physical gold storage in various regions [3][7]. - The establishment of an international gold trading center is seen as a new opportunity to solidify Hong Kong's position as an international financial center [7]. - The recent launch of designated warehouses for gold trading in Hong Kong is expected to attract more international investors and increase the region's gold reserves [5][6].

2024年10月，香港特区行政长官李家超发表2024年施政报告，宣布以建设大宗商品交易生态圈、建立国 际黄金交易市场为抓手，巩固提升香港作为国际金融、航运、贸易中心的地位。 随后，一系列围绕黄金交易市场建设的布局相继落地。2024年10月21日，香港机场管理局发布消息称， 香港机场管理局正制定在香港国际机场扩建机场贵金属储存库的计划，以支持构建国际级黄金仓储设施 及将香港建设成国际黄金交易中心的措施。 香港机场管理局行政总裁张李佳蕙曾表示，过去数年，投资者对香港的黄金储存、交易及交收的需求大 幅攀升。香港国际机场为全球其中一个最繁忙航空枢纽，贵金属储存库位处机场的安全地点，一直是世 界各地投资者的理想储存设施，未来将继续发挥这重要作用。 2024年12月18日，香港特区政府宣布推动黄金市场发展工作小组正式成立，以全面检视与黄金金融交易 相关的各个范畴，推行建立国际黄金交易中心的工作，并就优化市场交易和监管机制、国内外推广等拟 定方案。 香港财库局局长许正宇指出，政府将推动构建国际级黄金仓储设施，在增加仓储的基础上，扩展保险、 检测认证、物流等相关配套金融业务，同步扩充抵押、借用、对冲等相关衍生交易，逐步搭建完 ...

Group 1 - Hong Kong is advancing its strategy to establish an international gold trading center as part of its broader initiative to build a commodity trading ecosystem, enhancing its status as a global financial, shipping, and trading hub [1][2][4] - The Hong Kong International Airport Authority is planning to expand its precious metals storage facilities to support the development of an international gold trading center, responding to increased demand from investors for gold storage and trading [2][3] - The Hong Kong government has formed a working group to comprehensively review all aspects related to gold financial transactions, aiming to optimize market trading and regulatory mechanisms [2][3] Group 2 - The demand for gold is expected to remain high due to increasing geopolitical uncertainties, providing an opportunity for Hong Kong to develop its gold financial trading market [4] - The establishment of an international gold trading center is seen as a new approach to solidify and enhance Hong Kong's position as an international financial center, with plans to attract international gold spot trading [4][3] - The government aims to create a complete ecosystem for gold trading, including storage, insurance, certification, logistics, and related financial services, to facilitate comprehensive multi-currency trading and settlement [3][4]

Core Viewpoint - Hong Kong is strategically positioning itself to become an international gold trading center, enhancing its status as a global financial, shipping, and trade hub [1][3][4]. Group 1: Strategic Developments - The Hong Kong government has established a dedicated task force to review all aspects related to gold financial transactions, aiming to promote the development of an international gold trading center [3][4]. - Plans are underway to expand the gold storage facilities at Hong Kong International Airport, which is expected to support the construction of international-grade gold storage and enhance Hong Kong's role in the global gold market [3][4]. - The Hong Kong Monetary Authority has initiated the establishment of designated warehouses for gold trading, which is anticipated to attract more international investors and increase Hong Kong's gold reserves [4]. Group 2: Market Demand and Opportunities - The demand for gold is expected to remain substantial due to increasing geopolitical uncertainties, with many investors seeking to store physical gold in various regions, presenting an opportunity for Hong Kong to develop its gold financial trading [6]. - The government plans to expand related financial services such as insurance, certification, and logistics, while also enhancing derivative trading options like collateral, borrowing, and hedging to create a comprehensive ecosystem for gold trading [4][6]. - The establishment of an international gold trading center is viewed as a new approach to solidify and elevate Hong Kong's status as an international financial center [6].

Core Insights - The global demand for gold has significantly increased, reaching approximately 4,550 tons last year, marking the highest level for the same period since 2000 [1][3] - Asia now accounts for over 60% of the annual global gold demand, reflecting the region's rising economic influence [1][3] - The Hong Kong Gold and Silver Exchange has seen a substantial increase in trading volume, with an average daily trading amount of over HKD 9.4 billion last year, representing a year-on-year increase of 28% [3] Industry Developments - The Hong Kong government aims to leverage the changing global environment to attract more metals and commodities for storage and trading in Hong Kong, thereby promoting the development of gold-related businesses and financial services [5] - A dedicated task force has been established to comprehensively review the gold financial trading sector, focusing on increasing storage capacity, optimizing trading and regulatory mechanisms, and expanding product offerings [4] - The establishment of an offshore gold delivery warehouse by the Shanghai Gold Exchange in Hong Kong and the inclusion of Hong Kong in the London Metal Exchange's global warehouse network are significant steps towards enhancing Hong Kong's position as an international financial center [4]

Core Insights - The establishment of the Hong Kong Gold Exchange (HKGX) marks a significant shift in Hong Kong's financial landscape, aiming to position the city as an international gold trading center and enhance its global gold pricing authority [1][6] - HKGX operates as the only official spot gold and silver exchange in Hong Kong, with a membership model that includes 137 financial institutions and traders, providing a platform for global investors [1][6] Group 1: HKGX's Role and Functionality - HKGX's creation aligns with the strategic goal outlined in the 2024 Hong Kong Policy Address to develop the city into an international gold trading hub [1] - The exchange combines traditional practices with innovative approaches, focusing on member-based operations and the development of new products [1][6] Group 2: Goldin China as a Benchmark Member - Goldin China, as a premier AA-class member of HKGX, plays a pivotal role in the exchange's internationalization efforts, adhering to strict compliance and operational standards [3] - The company implements international standards for precious metal trading, oversees clearing and delivery processes, and employs dynamic risk management to mitigate market volatility [3][4] Group 3: HKGX's Global Positioning - HKGX aims to create a complete industrial chain, including world-class gold storage facilities and certification services, leveraging Hong Kong's unique advantages [6] - The exchange is positioned to fill trading gaps in the global market, facilitating a 24-hour gold trading chain and serving as a compliant channel between mainland China and international markets [6] Group 4: Future Aspirations - HKGX aspires to achieve a pricing power status comparable to London and New York by diversifying its product offerings and exploring connections with futures contracts [8] - The exchange plans to enhance the credibility of physical delivery through a blockchain-based gold traceability system and attract international players to create a comprehensive industry cluster in Hong Kong [8]