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SFST articulates Hong Kong's gold master plan at Global Precious Metals Conference (with photos)
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     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 organised by the London Bullion Market Association (LBMA) in Sorrento, Italy, on October 6 (Sorrento time). He articulated to delegates from the worldwide precious metals industry Hong Kong's master plan in building a gold-trading ecosystem that is supported with government-led infrastructure, market-informed governance and commercially driven activities. 

     At a panel discussion session, Mr Hui was joined by a representative from the Monetary Authority of Singapore to discuss "The Next Chapter in Gold - How Hong Kong and Singapore are Reshaping Market Dynamics". Mr Hui said that Hong Kong, uniquely positioned in terms of its strategic location, international financial centre status and common law legal system, has been working at full steam to build a gold-trading ecosystem that would connect existing gold markets and add usable liquidity to the international market.

     He elaborated, "We have already moved from planning to the full implementation stage. Our trial operation of the Hong Kong Gold Central Clearing and Settlement System has been well received. In addition to the 11 banks serving as provisional direct participants of the settlement system, other banks have also expressed interest in joining the settlement system, which is scheduled to be formally launched in the first quarter of next year. Meanwhile, we are in the final stages of connecting the System with Hong Kong's Real Time Gross Settlement system to enable Delivery versus Payment settlements. Our objective is to reduce settlement risk and operational friction, giving participants a reliable foundation on which they could build their businesses. The Government is also giving a big push in drawing private market participation in expanding gold storage capacity and refining capability through different policy strategies including exploring tax concessions to give add-on attractiveness along with the current tax-free policy on activities like gold import and export."

     Mr Hui also announced to the audience that the LBMA is going to cohost its Asia Forum with the Hong Kong Special Administrative Region Government and the Hong Kong Precious Metals Central Clearing Company Limited (HKPMCC) in Hong Kong next April. He said that he is thrilled with the decision by the LBMA as it is a significant endorsement to Hong Kong's rapid gold development in these two years. With the gold central clearing and settlement system officially launched by then, the Government will take the occasion to showcase to international and Asian participants the city's capability in aligning with international standards and how the industry can utilise Hong Kong as a trusted platform to connect international and Mainland gold markets. 

     On aligning with international standards, Mr Hui highlighted that the Government and the LBMA are exploring ways to materialise co-operation on delivery standards. He said the move, if materialised, will help embed internationally recognised standards in Hong Kong's gold infrastructure, laying a trustworthy foundation for industry engagement.

     Besides speaking at the panel discussion session, Mr Hui also met with the LBMA Chair, Mr Peter Zöllner, for an in-depth exchange on global precious metals market trends and ways to strengthen connectivity between Hong Kong and London gold markets.

     He then met with the President of the Swiss Precious Metals Association, Mr Christoph Wild, and its Executive Director, Dr Sabrina Karib, to discuss sustainable strategies in aligning with international standards of the gold market and to explore room for collaborations. 

     Mr Hui also met with the Managing Director and Global Head of Metals Trading at Deutsche Bank, Mr Prakash Shah, and the Director of Precious and Base Metals, Global Markets at Deutsche Bank, Mr Rao Sheng, to update them on the latest gold market developments in Hong Kong.

     The Chief Executive Officer of the HKPMCC, Mr Bryan Chan, joined Mr Hui for the trip. He attended the Asia Working Group meeting and luncheon on October 5 (Sorrento time) at the Conference to brief industry stakeholders on gold infrastructure developments in Hong Kong, including Delivery Connect, launched with the Shanghai Gold Exchange.

     The Global Precious Metals Conference is an annual flagship event for the international bullion and metals industry. This year, more than 1 000 delegates from across the precious metals industry are engaging to conduct focused debates and build lasting connections. 

     Mr Hui will visit multiple leading refineries for gold of international standard in Ticino, Switzerland, on October 7 (Ticino time) and meet with their senior management.
 
Ends/Wednesday, October 7, 2026
Issued at HKT 11:04
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The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time). Photo shows Mr Hui (left) introducing the suite of measures that Hong Kong is putting forward to foster the building of a gold trading ecosystem and its relevant progress at a panel discussion session.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre on stage), attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time) and participated in a panel discussion session.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre), attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time) and participated in a panel discussion session moderated by the Senior Advisor for Asia of the London Bullion Market Association, Mr Jeremy East (left). Also joining was the Executive Director of the Financial Markets Development Department of the Monetary Authority of Singapore, Mr Lim Cheng Khai (right).
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time). Photo shows Mr Hui (left) at a panel discussion session announcing that the London Bullion Market Association is going to cohost its Asia Forum with the Hong Kong Special Administrative Region Government and the Hong Kong Precious Metals Central Clearing Company Limited in Hong Kong next April.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time) and had a lunch meeting with the Chair of the London Bullion Market Association, Mr Peter Zöllner, at the margins of the Conference. They had an in-depth exchange on global precious metals' market trends and ways to strengthen connectivity between the Hong Kong and London gold markets. Also present was the Chief Executive Officer of the Hong Kong Precious Metals Central Clearing Limited, Mr Bryan Chan. Photo shows Mr Hui (centre), Mr Zöllner (left) and Mr Chan (right) before the meeting.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time). Photo shows Mr Hui (second right) meeting with the President of the Swiss Precious Metals Association, Mr Christoph Wild (first right), and the Executive Director of the Association, Dr Sabrina Karib (second left), to discuss sustainable strategies in aligning with international standards of the gold market, and to explore room for collaborations. Next to them is the Chief Executive Officer of the Hong Kong Precious Metals Central Clearing Limited, Mr Bryan Chan (first left).
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the Global Precious Metals Conference 2026 in Sorrento, Italy, on October 6 (Sorrento time). Photo shows Mr Hui (first left) at a meeting with the Managing Director and Global Head of Metals Trading at Deutsche Bank, Mr Prakash Shah (first right), to provide an update on the latest gold market developments in Hong Kong. Next to Mr Hui is the Chief Executive Officer of the Hong Kong Precious Metals Central Clearing Limited, Mr Bryan Chan (second left).