Shanghai Gold Exchange launches first offshore vault in Hong Kong

The Shanghai Gold Exchange opened its first offshore warehouse in Hong Kong on Thursday, a move that is likely to bolster the international trading of its contracts.

The vault witnessed several transactions of spot gold contracts after it became operational, according to a statement from Bank of China (Hong Kong), which runs the warehouse.

Analysts said the launch of the vault and two yuan-denominated gold products represented a step forward for Beijing and Hong Kong in their effort to promote commodities and futures contracts around the world.

He added that the vault and gold contracts would help Hong Kong solidify itself as an international financial centre. The vault was designed to serve international clients as they conducted trading of yuan-denominated bullion and managed their storage.

The Shanghai exchange was established by the People’s Bank of China in 2002; it has two warehouses in Shanghai and another in Shenzhen.

Source link

Visited 1 times, 1 visit(s) today

Related Article

巴士西九公路撞工程車 兩人送院 - 20250627 - 港聞 - 每日明報

巴士西九公路撞工程車 兩人送院 – 20250627 – 港聞 – 每日明報

港聞 2025年6月27日星期五 港聞二 康文場地改定位 紅館「演唱會優先」 沙田大會堂變粵劇場地 東九中心留作長期演出　新一輪「伙伴計劃」涵11場地 「騰更多檔期供不同藝團」　故宮館11月古埃及展 圖坦卡門巨像助陣　M+特展「廣東摩登」 探討藝術如何介入社會　監管令22月 青年申赴英國讀法律被拒 懲教委員會指未「去激進化」或危國安 事主申司法覆核　監管令助重投社會 鍾翰林事件後收緊　滕毅康再盜竊判感化 官：最後機會　港大出書分享ICU病人康復故事 無心跳63分鐘 奇蹟少女泰然憶生死　邵氏基金資助籌建診所 盼身心支援康復者　美國慶酒會 丘應樺致辭反關稅 梅儒瑞稱對教局「提示」失望 「港怎做超級聯繫人」　冒證券行「釣魚」騎劫戶口 4男騙百人4000萬元　施政報告建議 經民聯倡投資北都5年免稅　牙科街症中籤 可網上撤預約　商報廣告總監 索佣8罪罪成　巴士西九公路撞工程車 兩人送院　醫局新制  醫療事故總監主管需問責 按調查定責任誰屬 前線關注執行彭鴻昌盼公開指引　工傷索還治療費擬增 目標元旦同推　大耳窿學外賣派單招攬 有學生穿校服淋漆追數　骨科醫生箍頸案作供：事主倒地傷頸椎 非因警員　串謀非法集結囚逾兩年 3男女上訴被拒　潮行GBA：藝術振古村 文化歐洲傳　灣區手記：一人店眼淚 ／文：尚東美　【Emily】購物節5000店推19億元優惠 7至8月舉行 180品牌參與　【Emily】山頂設迪士尼打卡位吸客　【Emily】談莊雅婷選港姐 湯家驊：莫非有高人指點？　【Emily】港鐵4站廣告屏推互動遊戲　【Emily】「良師誨人不倦」 李家超：深受老師影響　 Source link

26 June 2025
China opens first offshore gold vault in Hong Kong

China opens first offshore gold vault in Hong Kong

AI-generated image. (Credit: Adobe Stock) The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong. The launch serves a number of purposes, from broadening the Shanghai bourse’s international reach, to strengthening China’s clout in commodity and currency markets

26 June 2025
Hong Kong Palace Museum to host city’s largest showcase of Egyptian artefacts

Hong Kong Palace Museum to host city’s largest showcase of Egyptian artefacts

The Hong Kong Palace Museum has signed an agreement with the custodian of Egyptian antiquities to host the city’s largest and longest-running exhibition of artefacts from the African nation, with 250 pieces on display from November. “Ancient Egypt Unveiled: Treasures from Egyptian Museums” will run for nine months starting from November 20 at the museum

26 June 2025
Former Hong Kong protester challenges travel ban in bid to study law

Former Hong Kong protester challenges travel ban in bid to study law

A former Hong Kong protester has lodged a judicial challenge against prison authorities’ decision to bar him from studying law in the United Kingdom on national security grounds, even after he completed his prison sentence for offences committed during the 2019 anti-government unrest. To Kai-wa on Wednesday sought a judicial review after the Correctional Services

26 June 2025
8 arrested in Hong Kong after HK$46 million lost in investor phishing scams

8 arrested in Hong Kong after HK$46 million lost in investor phishing scams

Hong Kong police have arrested eight people for allegedly making unauthorised stock transactions, manipulating the market and using phishing scams to swindle about HK$46 million (US$5.8 million) out of more than 130 victims based locally and overseas. Senior Superintendent Fanny Kung Hing-fun of the force’s commercial crime bureau said police had arrested seven men and

26 June 2025
Exclusive | AIIB to expand global footprint with 20-member office in Hong Kong

Exclusive | AIIB to expand global footprint with 20-member office in Hong Kong

The Beijing-headquartered Asian Infrastructure Investment Bank will open an office in Hong Kong to enhance the multilateral development lender’s fundraising power and expand its global presence, the Post has learned from sources familiar with the matter. The new office would come as a publicity victory for Hong Kong as the city redoubles its efforts to

26 June 2025
0
Would love your thoughts, please comment.x
()
x