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HK Exchange Fund Eyes Gold Boost for Trading Hub Ambitions

Guavy AI Editorial Team
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The Exchange Fund in Hong Kong is considering increasing its investment in gold as part of the government's effort to develop the city into a major gold trading hub.

Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man stated that the fund will continue to invest mainly in US dollar assets to support the Hong Kong dollar's peg with the US currency.

The Exchange Fund has total assets of HK$4.463 trillion ($569 billion) as of June, and it backs the issuance of banknotes and helps defend the Hong Kong dollar against speculative attacks.

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