Hong Kong Financial Secretary Paul Chan Mo-po: Further explore greater integration with the mainland gold market

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On October 20th, Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan Mo-po, stated in a blog post that constructing an international gold trading center is one of the new entry points for consolidating and enhancing Hong Kong’s status as an international financial, shipping, and trading center. Hong Kong plans to increase its gold storage facilities and further explore its integration with the mainland gold market. Chan Mo-po said that Hong Kong’s gold volume has continued to rise, with steady growth in the volume of 99 gold transactions in the past decade, with a compound annual growth rate of over 18%. In the first quarter of this year, it has risen by about 20% compared to the same period last year. With the development of the global gold market, there is great potential for physical gold trading in Hong Kong.

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