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Hong Kong begins trial operation of gold clearing and settlement system
Enoch Yiu, Julie Zhang and Wynna Wong
South China Morning Post, Hong Kong
Tuesday, July 7, 2026
Hong Kong inaugurated on Tuesday the trial operation of a gold clearing and settlement system, a step toward building the city into a trading hub and price-setter for the precious metal.
The decision was announced at the Hong Kong FIC & Bond Connect Summit by Chief Executive John Lee Ka-chiu, who hailed it as a "milestone."
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"The government-owned Hong Kong Precious Metals Central Clearing [Company] will offer a comprehensive suite of services ranging from gold deposits and withdrawals to transaction settlements in the over-the-counter market in Hong Kong," Lee said.
The first transaction involved multiple banks, refiners, and mining and jewelry companies.
Amid geopolitical crises and macroeconomic volatility, Lee said gold was "becoming one of the key pillars for liquidity and risk management." ...
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