其一，香港黄金交易始终缺乏统一的中央清算机制，采用的是买卖双方双边清算模式。针对这一短板， 香港正加速与内地城市深化对接合作。1 月底，香港特区政府与上海黄金交易所签署合作协议，香港已 成立全资拥有的香港贵金属中央结算系统有限公司，上海黄金交易所将协助其建立黄金中央清算系统。 香港特区政府财经事务委员会最新政策简报显示，香港财库局已成立由政府全资拥有的公司作为清算系 统的管治机构。政府、金融监管机构和参与国际黄金市场的主要银行，将加入该公司董事会，参与制定 清算系统的管治架构和规则，充分吸纳市场意见。 其二，要成为真正的国际黄金交易中心，强大的基础设施是硬支撑。香港此前在黄金仓储方面存在短 板，无法满足未来大规模实物交割的需求。 香港特区政府财经事务及库务局局长许正宇透露，特区政府正积极支持香港机场管理局及金融机构建设 先进的黄金存储设施，目标是三年内将存储容量提升至2000吨以上。 将研究为在港进行黄金交易，以及及结算的合格机构提供税务优惠，协助成立行业协会、搭建培训体 系，推动香港建成国际黄金交易与定价中心。这是香港特区政府财政司司长陈茂波，在最新公布的2026 至2027财政年度政府财政预算案中，提到的 ...

Core Viewpoint - The chairman of the Hong Kong Gold Exchange, Zhang Dexi, stated that "the golden era has arrived," emphasizing Hong Kong's historical background, institutional advantages, and innovative capabilities in accelerating the establishment of an international gold trading center [1] Group 1: Development of Hong Kong Gold Market - Hong Kong is advancing the construction of an international gold trading center to enhance its role in global gold pricing and as a hub [1] - A cooperation agreement was signed between the Financial Services and the Treasury Bureau and the Shanghai Gold Exchange on January 26, aiming to establish a central settlement system for gold in Hong Kong [1] - The agreement outlines the establishment of the "Hong Kong Precious Metals Central Settlement System Limited," fully owned by the Hong Kong government, with participation from Shanghai in governance and risk management [1] Group 2: Operational Aspects - The Hong Kong Central Settlement System is expected to enter trial operation within this year, which is seen as a crucial infrastructure to improve clearing efficiency, reduce counterparty risk, and facilitate cross-border flows [1] - The Hong Kong Gold Exchange emphasizes strict management and service capability requirements for qualified members, with some institutions already disclosing their qualifications and numbers [1] Group 3: Market Implications - The implementation and trial operation of the central settlement system are anticipated to enhance the transparency and efficiency of the Hong Kong gold market, attracting both domestic and international institutions [2] - This development is expected to support the internationalization of the Renminbi and enhance China's influence in international gold pricing [2] - Future growth will depend on institutional details, infrastructure integration, and the cooperation of market participants [2]