FINANCE

Hong Kong to Accelerate Push for International Gold Trading Hub

Published: Sep. 16, 2026 10:35 p.m. GMT+8

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Hong Kong Chief Executive John Lee delivers his first five-year plan and Policy Address in Hong Kong, China, on Sept. 16, 2026. Photo: VCG

Hong Kong plans to accelerate the development of an international gold trading market and is considering increasing the gold reserves of its Exchange Fund, Chief Executive John Lee said Wednesday.

The initiative aims to strengthen the city’s position as a global financial center and build a broader commodity trading ecosystem. It seeks to capitalize on Asia’s outsize share of global gold demand and Hong Kong’s role as the primary offshore yuan hub.

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Explore the story in 30 seconds

Hong Kong will accelerate an international gold trading market and consider increasing Exchange Fund gold reserves.
Central clearing system launches Q1 2027; HKEX to detail a yuan-denominated gold futures contract.
Proposes tax concessions (half-rate profits tax) for commodity trading; Asia >60% global gold demand, targeting primary offshore yuan hub role.

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Who’s Who

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What Happened When

2025：: Asia accounted for more than 60% of global gold demand, as noted by HSBC’s David Liao.

2026：: The initiative to advance an international gold trading market and consider expanding the Exchange Fund’s gold reserves was announced. This initiative was detailed in the fifth Policy Address by Chief Executive John Lee.

July 2026：: A central clearing and settlement system for gold began trial operation.

Later in 2026：: Hong Kong Exchanges and Clearing Ltd. (HKEX) will detail a new yuan-denominated, physically settled gold futures contract.

2026：: A joint working group led by the Secretary for Financial Services and the Treasury will be formed to explore market opportunities and cross-exchange collaboration.

2027：: A proposal for tax concessions on eligible gold and commodity trading activities will be submitted to the Legislative Council for consultation.

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