Hong Kong issued its first five-year plan supporting the development of the gold market on September 16 $XAU
According to Jingu Ten, on September 16 Hong Kong released its first five-year plan, rolling out measures to support the development of the gold market. Liao Yijian, Co-CEO of HSBC Asia and Middle East, said that Hong Kong has the conditions to become a regional gold clearing center and an important gateway to attract investors from across the globe. Liao noted that Asia accounts for more than 60% of global demand for gold bullion bars, and that Hong Kong’s trading hours can effectively connect the time zones of Asia, Europe, and the United States, making it an ideal platform for cross-time-zone spot, forwards, and swap transactions. He welcomes the government’s use of tokenization technology to develop gold products, and emphasized that Hong Kong, as the world’s largest offshore renminbi center, has unique advantages in developing renminbi-denominated gold products.
According to Jingu Ten, on September 16 Hong Kong released its first five-year plan, rolling out measures to support the development of the gold market. Liao Yijian, Co-CEO of HSBC Asia and Middle East, said that Hong Kong has the conditions to become a regional gold clearing center and an important gateway to attract investors from across the globe. Liao noted that Asia accounts for more than 60% of global demand for gold bullion bars, and that Hong Kong’s trading hours can effectively connect the time zones of Asia, Europe, and the United States, making it an ideal platform for cross-time-zone spot, forwards, and swap transactions. He welcomes the government’s use of tokenization technology to develop gold products, and emphasized that Hong Kong, as the world’s largest offshore renminbi center, has unique advantages in developing renminbi-denominated gold products.