Group 1 - The establishment of the designated warehouse for the international board by the Shanghai Gold Exchange in Hong Kong marks a significant step in the internationalization of China's gold market [1][3] - The designated warehouse is operated by Bank of China (Hong Kong) and is the first offshore designated warehouse for the international board, providing both trading and custody services [3] - Two gold trading contracts have been launched for delivery at the Hong Kong designated warehouse, with specific standards for weight and purity, and both contracts are priced in Renminbi [3] Group 2 - The move to set up the designated warehouse in Hong Kong enhances China's influence in the international gold market and provides a closed-loop exchange channel for "Renminbi-gold," strengthening the credibility of Renminbi as a reserve currency [4] - The realization of offshore Renminbi gold physical delivery is expected to increase investor preference for Renminbi-denominated gold, deepening the binding relationship between gold and Renminbi [4] - The expansion of Renminbi usage in international commodity pricing and settlement is facilitated by the large offshore Renminbi liquidity pool in Hong Kong, lowering barriers for foreign capital participation [4]

Core Viewpoint - The Shanghai Gold Exchange is enhancing its international market openness by launching new gold contracts and waiving storage fees for international members and clients until the end of 2025 [1] Group 1: Market Expansion - The Shanghai Gold Exchange announced the listing of iPAu99.99HK and iPAu99.5HK contracts on June 26 [1] - The exchange aims to enrich its product system and optimize delivery services [1] Group 2: Fee Waivers - From now until December 2025, the exchange will waive storage, entry, and exit fees for international members and clients using the designated warehouse in Hong Kong [1] - This initiative is part of the exchange's strategy to attract more international participation [1]