Core Viewpoint - The Hong Kong government is accelerating the establishment of an international gold trading market, including the creation of a central clearing system for gold transactions and enhancing gold investment tools [1][2]. Group 1: Government Initiatives - The Hong Kong government will implement recommendations from the "Gold Market Development Working Group" to establish a central clearing system for gold, aiming to provide efficient and reliable clearing services for international standard gold trading [1]. - The government plans to support the issuance of gold funds and the development of new products, such as tokenized gold investment products, while also promoting the establishment of a gold industry association [1][2]. - The government aims to enhance gold storage capabilities, targeting over 2,000 tons within three years, and to encourage gold merchants to establish or expand refining facilities in Hong Kong [1][2]. Group 2: Market Dynamics - Hong Kong's gold import and export volume ranks among the top globally, with geopolitical complexities highlighting its stable environment, attracting investors for gold storage and trading [1]. - The liquidity of COMEX gold futures has significantly increased during Asian trading hours, with the volume rising from approximately 25% to over one-third of total trading volume by the second quarter of 2025, indicating growing interest in derivative trading among regional investors [2]. - The Hong Kong government plans to develop international-grade gold storage facilities to attract investors from the Middle East and Southeast Asia, while also expanding related services such as insurance, certification, and logistics [2].