Hong Kong Precious Metals Central Clearing Company Limited convenes first Board of Directors' meeting
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It was proposed in the 2025 Policy Address that Hong Kong shall expedite the building of an international gold trading market, including the establishment of a central clearing system for gold in Hong Kong to provide efficient and reliable clearing services for transactions of gold in compliance with international standards. Under the chairmanship of the Secretary for Financial Services and the Treasury, the Board oversees the work of the PMCC in the establishment of the clearing system, monitors its operation and provides strategic direction and steers on its development.
"We have board members coming from the Shanghai Gold Exchange, regulatory bodies and 11 banks, all having a good understanding of international financial markets, with rich experience in the finance industry. The Board will support us in building in Hong Kong a gold trading market highly aligned with the international market, thereby fostering the diverse development of the gold trading ecosystem. It is high on the agenda of the Board to establish the gold central clearing system at full steam. We shall keep up with our preparatory work, targeting to commence trial operations within this year," the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said.
The 11 banks are (in no particular order) Agricultural Bank of China Limited Hong Kong Branch, Australia and New Zealand Banking Group Limited, Bank of China (Hong Kong) Limited, Bank of Communications (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, Citi Hong Kong, Industrial and Commercial Bank of China (Asia) Limited, JP Morgan, Standard Chartered Bank (Hong Kong) Limited, Hongkong and Shanghai Banking Corporation, and UBS AG.
Ends/Wednesday, April 22, 2026
Issued at HKT 17:00
Issued at HKT 17:00
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