Hong Kong Seeks to Boost Commodity Trading with Gold at the Forefront

Hong Kong's Financial Secretary Paul Chan believes that developing commodity trading in the city can serve national interests and create jobs. This comes as part of the country's 15th Five-Year Plan, which supports Hong Kong in building a commodity trading ecosystem.

The government has already started working on this initiative with gold trading, aiming to increase Hong Kong's gold storage capacity to over 2,000 tonnes within three years. Chan stated that developing commodity trading will support national interests, as the country is one of the biggest users of gold and other precious metals.

In an interview, Chan mentioned that launching a new gold price benchmark could give Hong Kong a stronger voice in gold pricing. He also emphasized that developing a commodity trading ecosystem will drive demand for storage and related professional services, creating jobs in the process.