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 ...

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, aiming to enhance its position as a global gold trading hub [1][3]. 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, ensuring efficient and reliable clearing services for international standard gold trading [1]. - The government aims to enrich gold investment tools and support the issuance of gold funds and new products, such as tokenized gold investment products [3]. - Plans include the establishment of a gold industry association to facilitate communication between the industry and regulatory bodies, promoting collaboration with "Belt and Road" countries [3]. Group 2: Infrastructure Development - The government targets to exceed 2,000 tons of gold storage capacity within three years by expanding gold storage facilities at the airport and financial institutions [3]. - There are initiatives to encourage gold merchants to establish or expand refining facilities in Hong Kong and collaborate with mainland China for processing and exporting refined gold [3]. - The establishment of a central clearing system is seen as a crucial step towards achieving long-term connectivity in the gold market, drawing on experiences from stock, bond, and fund market interconnectivity [3]. Group 3: Market Trends - 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 [4]. - The Hong Kong government plans to develop international-grade gold storage facilities to attract investors from the Middle East and Southeast Asia, enhancing the overall ecosystem with services like insurance, certification, and logistics [4].

Group 1 - The Chief Executive of Hong Kong, John Lee, announced the development of an international gold trading market to strengthen Hong Kong's position as an international financial center [1] - The goal is to establish a regional gold reserve hub with a target of exceeding 2000 tons of gold storage within three years [1] - Plans include the establishment or expansion of gold refineries in Hong Kong and collaboration with mainland China for gold processing and export [1] Group 2 - A central clearing system for gold transactions will be created to provide efficient and reliable clearing services for internationally standardized gold trading [1] - The Shanghai Gold Exchange will be invited to participate in the initiative to prepare for future connectivity with mainland markets [1] - The government will support the issuance of gold investment products and the establishment of a gold industry association to enhance communication with regulatory bodies [1]

Group 1: Northern Metropolis Development - The Northern Metropolis concept was first introduced in the 2021 policy report, covering an area of approximately 300 square kilometers, aimed at becoming an economic engine driven by innovation and technology [2] - The Chief Executive emphasized the region's strategic importance, as it borders Shenzhen and accounts for about one-third of Hong Kong's future population, presenting significant economic value and development potential [2] - A "Northern Metropolis Development Committee" will be established to accelerate development, with the Chief Executive as the chair, and three working groups focusing on operational models, university city planning, and overall project management [2][3] Group 2: Financial Market Development - The Hong Kong stock market has shown strong performance, with the Hang Seng Index rising over 20% since the beginning of the year and IPO fundraising exceeding HKD 130 billion, a nearly sixfold increase year-on-year [6] - The policy report outlines plans to assist mainland tech companies in raising funds in Hong Kong and to optimize listing regulations, including exploring the shortening of the stock settlement cycle to T+1 [6][7] - The report also aims to attract more overseas companies to list in Hong Kong, leveraging the unique connectivity mechanisms with mainland China [6] Group 3: Housing and Living Standards - The government plans to increase public housing supply to 189,000 units over the next five years, reducing the average waiting time for public housing from 6.1 years to a target of 4.5 years by 2026-27 [11] - There will be a shift in housing policy from rental to ownership, with increased support for home ownership programs and adjustments to eligibility criteria for public housing residents [11][12] - The report proposes to lower the investment threshold for residential properties, allowing high-net-worth individuals more options in the housing market, which is expected to stimulate demand [12]

Core Insights - Hong Kong government aims to accelerate the establishment of an international gold trading market, implementing recommendations from the "Gold Market Development Working Group" [2] - The government plans to create a central clearing system for gold transactions, enhancing efficiency and reliability in clearing services [2] - There is a focus on expanding gold investment tools and supporting the issuance of gold funds and tokenized gold investment products [2] Group 1: Infrastructure Development - The government will promote the expansion of gold storage facilities at the Hong Kong International Airport and financial institutions, targeting over 2,000 tons in three years [2] - Plans include the establishment of a central clearing system, which is crucial for achieving long-term connectivity goals in the gold market [3] - The government aims to develop a complete ecosystem around gold trading, including insurance, certification, logistics, and related derivative transactions [3] Group 2: Market Connectivity - The report emphasizes the importance of building a robust clearing system as a foundation for future cooperation and connectivity in the gold market [3] - Increased trading activity in the Asian time zone reflects growing interest from regional investors in derivative trading, with Asian session volume rising from 25% to over one-third of total trading volume by Q2 2025 [3] - The government seeks to attract investors from the Middle East and Southeast Asia to store gold in Hong Kong, enhancing its position as a regional gold hub [3]

对于黄金仓储，施政报告中提到，要推动香港机场管理局及金融机构在港拓展黄金仓储，以三 年超越2000吨为目标，建造区域黄金储备枢纽；推动金商在港建立或扩建精炼厂，并与内地研 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。 香港立法会议员李惟宏对21世纪经济报道记者表示，此次施政报告在去年提出建设黄金交易中 心的基础上，进一步明确了具体推进方向。包括 加强仓储等基础设施建设，以及建立中央清 算系统——这是实现中长期互联互通目标的重要基础。 参考股票、债券及基金市场互联互通 机制的发展经验，黄金市场的互联互通也需逐步推进，率先构建完善的清算系统将为后续合作 奠定坚实基础。 9月17日，香港特区政府行政长官李家超发表2025年施政报告，宣布香港将加速建立国际黄金 交易市场，并已接纳 "推动黄金市场发展工作小组" 的建议，由香港财库局落实。特区政府将 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，并邀请上海黄金 交易所参与，为未来与内地市场互联互通做好预备。 李家超表示，香港要丰富黄金投资工具，协助发行人发行黄金基金，支持开发新产品，如代币 化黄金投资产品。特区政府会支持业界成立黄金 ...

Group 1: Northern Metropolis Development - The Northern Metropolis concept was first introduced in the 2021 policy report, covering an area of approximately 300 square kilometers, aimed at becoming an economic engine driven by innovation and technology [2] - The Chief Executive emphasized the strategic importance of the Northern Metropolis, which borders Shenzhen and is expected to account for one-third of Hong Kong's future population, creating numerous jobs and enhancing productivity [2][5] - A new "Northern Metropolis Development Committee" will be established to accelerate development, with three working groups focusing on operational models, university town planning, and overall project management [3][4] Group 2: Financial Market Development - Hong Kong's stock market has shown strong performance, with the Hang Seng Index rising over 20% since the beginning of the year and IPO fundraising exceeding HKD 130 billion, marking a nearly sixfold increase year-on-year [6] - The policy report outlines measures to attract overseas companies for secondary listings in Hong Kong, leveraging the unique connectivity with mainland China [6][7] - Proposed changes include shortening the stock settlement cycle to T+1, which aligns with international standards and enhances market liquidity [7] Group 3: Housing and Living Standards - The government aims to increase public housing supply to 189,000 units over the next five years, reducing the average waiting time for public housing from 6.1 years to a target of 4.5 years by 2026-27 [10][11] - The policy shift focuses on facilitating home ownership rather than rental, with plans to increase the supply of subsidized housing and optimize transfer arrangements for public housing residents [10][11] - Adjustments to the capital investment scheme will lower the investment threshold for residential properties, potentially boosting demand in the real estate market [11]

李家超表示，香港要丰富黄金投资工具，协助发行人发行黄金基金，支持开发新产品，如代币化黄金投 资产品。特区政府会支持业界成立黄金行业协会，建立与政府和监管机构的交流平台，加强推广及吸引 共建"一带一路"国家的客户，强化人才培训。 李家超在2024年施政报告中曾提到，香港黄金进出口量已位居全球前列，因地缘政治复杂，香港安全和 稳定环境的优势凸显，吸引投资者在香港进行黄金仓储，推动黄金交易、清算和交割。 对于黄金仓储，施政报告中提到，要推动香港机场管理局及金融机构在港拓展黄金仓储，以三年超越2? 000吨为目标，建造区域黄金储备枢纽；推动金商在港建立或扩建精炼厂，并与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。 （原标题：剑指亚洲黄金交易枢纽 香港拟建2000吨级储备中心） 南方财经 21世纪经济报道记者 张伟泽 实习生 问致璞 谢巧云 香港报道 9月17日，香港特区政府行政长官李家超发表2025年施政报告，宣布香港将加速建立国际黄金交易市 场，并已接纳"推动黄金市场发展工作小组"的建议，由香港财库局落实。特区政府将建立香港黄金中央 清算系统，为国际标准黄金交易提供高效可信的清算服务，并邀请 ...

Group 1: Financial Market Developments - The Hong Kong stock market is experiencing significant growth, with the Hang Seng Index rising over 20% since the beginning of the year and daily average trading volume approaching HKD 250 billion, nearly doubling from last year [3][4] - The IPO fundraising amount has reached over HKD 130 billion by the end of August, marking a nearly sixfold year-on-year increase, making Hong Kong the top global market for IPOs [3][4] - The government aims to assist Chinese concept stocks in returning to Hong Kong as their preferred listing location, with potential for 27 Chinese concept stocks to return, representing a total market value exceeding HKD 1.4 trillion [5][6] Group 2: Regulatory and Structural Reforms - The Chief Executive's policy address includes plans to optimize the main board listing and issuance mechanisms, explore shortening the stock settlement cycle to T+1, and promote more overseas companies to list in Hong Kong [4][6] - The introduction of the "Tech Company Fast Track" aims to facilitate the listing of technology and biotech companies, allowing them to submit applications confidentially [4][6] Group 3: International Gold Trading Market - The Hong Kong government is accelerating the establishment of an international gold trading market, with a target to exceed 2,000 tons of gold storage within three years [7][8] - Measures include building a central clearing system for gold transactions and enhancing collaboration with the Shanghai Gold Exchange to prepare for future connectivity with the mainland market [7][8] - The demand for gold is expected to remain strong due to geopolitical uncertainties, positioning Hong Kong as a key player in the global gold market [8]

香港传来大消息！ 李家超表示，协助内地科技企业来港融资，探索缩短股票结算周期至T+1。协助中概股以香港为首选回 归地；推动港股人民币交易柜台纳入"股票通"南向交易。 与此同时，他还表示，持续优化"跨境支付通"，拓展与民生相关的汇款应用场景。特区政府明年会优化 可携现金援助的发放安排，在广东及福建省养老的香港受惠长者可选择由政府将款项直接汇入其内地指 定银行的账户。 资本市场 中国香港特区行政长官李家超今日（17日）在香港特区立法会发表新一份施政报告。 今日，李家超在香港特区立法会发表的新一份施政报告中表示，香港将通过"科企专线"协助内地科技企 业来港融资，加强对国家建设科技强国的金融支持；进一步完善主板上市和结构性产品发行机制；研究 优化"同股不同权"上市规定；探索缩短股票结算周期至T+1；推动更多海外企业来港第二上市；协助中 概股以香港为首选回归地；推动港股人民币交易柜台纳入"股票通"南向交易。 李家超表示，香港将继续与内地相关机构商讨落实在港推出离岸国债期货，扩充互换通下利率衍生品种 类，并推动场外衍生工具的发展，以及与内地适时推出跨境人民币回购业务。香港证监会、金管局及港 交所将增加市场接触，鼓励更多企 ...