26th June 2025 – (Hong Kong) The Financial Services and the Treasury Bureau (FSTB) has expressed enthusiasm over the inauguration of the Shanghai Gold Exchange (SGE)’s maiden offshore gold delivery vault in Hong Kong, alongside the commencement of gold contracts designated for delivery in Hong Kong on its International Board today.
Christopher Hui, the Secretary for Financial Services and the Treasury, lauded this development, stating, “The establishment of the SGE’s first International Board certified vault in Hong Kong provides a valuable avenue for international investors seeking offshore gold delivery. This significant move signifies a pivotal advancement in the globalisation of our nation’s gold market, expanding the reach of RMB-denominated gold trading on a global scale and fortifying Hong Kong’s stature in the regional market. The government is actively promoting the establishment of an international gold trading hub in Hong Kong to explore new avenues for financial services growth and to reinforce and elevate Hong Kong’s position as a premier international financial centre. In alignment with these objectives, I have engaged with various stakeholders from overseas and the Mainland during recent official visits to gather insights on this initiative. The introduction of an SGE-certified vault in Hong Kong will not only attract a more diverse range of international investors to partake in SGE trading but also bolster gold storage in Hong Kong, thereby catalysing the expansion of associated services. Undoubtedly, this will invigorate our journey towards establishing an international gold trading centre.”
He further elaborated, “Hong Kong, under the ‘one country, two systems’ framework, possesses unique advantages and is well-equipped to offer comprehensive financial, logistical, and shipping services. With a robust offshore Renminbi liquidity pool, international institutional investors are poised to benefit from streamlined participation in gold trading with delivery services in Hong Kong. Last week, the Hong Kong Special Administrative Region Government and the Shanghai Municipal Government inked the Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centres, underscoring successful collaborative development between Shanghai and Hong Kong. I eagerly anticipate deepened cooperation, expanded mutual market access, and enhanced two-way engagement between Hong Kong and Shanghai, leveraging the strengths of these two leading international financial hubs within the ‘one country, two systems’ framework.”
During the 2024 Policy Address, the Chief Executive announced the establishment of a commodity trading ecosystem, supporting international commodity exchanges in setting up accredited warehouses in Hong Kong for storage and delivery of commodities. In January this year, Hong Kong was integrated into the global warehousing network of the London Metal Exchange, with seven approved warehouses in the pipeline. These warehouses are slated to commence operations in July, with preparations underway for system connections. Noteworthy progress has also been made in the gold sector, with the FSTB establishing the Working Group on Promoting Gold Market Development in December 2024. The group aims to draft a comprehensive plan this year to enhance storage capacity, refine trading and regulatory frameworks, diversify exchange products, and elevate market outreach.
