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Christopher Hui: More Products Like Gold Futures to Be Launched After Establishing Gold Clearing System
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Secretary for Financial Services and the Treasury, Christopher Hui, said after attending the Asian Financial Forum (AFF) that the authority entered into a cooperation agreement with the Shanghai Gold Exchange, and established the Hong Kong Precious Metals Central Clearing Company Limited. Hui himself will serve as the chairman of the board, with a representative from the Shanghai Gold Exchange as the vice-chairman, participating in matters such as the preparation, rule-making and institutional recognition of the central clearing system for gold in Hong Kong. When asked how Chinese investors can participate in Hong Kong's gold investment, Hui indicated that the current focus is on building the clearing system, with hopes for breakthroughs in Stock Connect in the future. After the clearing system is established, the next step will be to launch more products, such as gold futures and funds, he added. Meanwhile, the authorities will also cooperate with other Chinese cities, such as signing a memorandum of understanding (MOU) with Shenzhen to develop processing trade cooperation between Hong Kong and Shenzhen, leveraging the advantages of the Greater Bay Area. AASTOCKS Financial News Website: www.aastocks.com |
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