John Lee believes that if Hong Kong can become a gold trading hub, with more trading, settlement, and even physical delivery taking place in Hong Kong, it will bring significant multiplier effects to the city. This policy is expected to not only drive the development of financial products but also create more opportunities for professional services, making it a win-win strategy.
Hong Kong SAR Chief Executive John Lee Ka-chiu believes that expanding into a gold trading hub presents significant opportunities. As an international financial center, Hong Kong must pursue diversified development. In an exclusive interview, Lee pointed out that Hong Kong’s stock market has already developed quite successfully. However, as the global political environment becomes increasingly complex, gold assets, known for their hedging properties, are gaining favor among investors.
He mentioned that during last year’s consultation on the Policy Address, it was noted that many mainland institutional investors are already participating in gold trading. Besides conducting transactions within the mainland, there is also substantial demand for gold trading in overseas markets, making them important players in the international gold market. If Hong Kong becomes a gold trading center in the Asia-Pacific region, physical delivery will become more convenient for mainland investors.
He also stated that Hong Kong’s current gold trading market still operates under a membership system, which limits the participation of investors and traders. The goal is to make gold trading as accessible as stock trading, allowing investors from around the world to participate. This involves establishing an efficient and reliable clearing system. He further emphasized that Hong Kong needs to build its own gold storage facilities, aiming to exceed 2,000 tons within three years to support the future construction of Hong Kong’s gold trading and settlement system.
John Lee believes that if Hong Kong can become a gold trading center, with more trading, settlements, and even physical deliveries conducted locally, it will generate significant multiplier effects for Hong Kong. This will not only promote the development of financial products but also create more opportunities for professional services, making it a win-win policy. He added that in any investment market, there are optimistic and pessimistic views. Smart investors choose the right stocks, while others may misjudge the situation. Some negative comments may stem from competitors’ jealousy. In recent years, the overseas investors he has interacted with have held very positive views about Hong Kong. Meanwhile, Hong Kong remains firmly positioned as the world’s third-largest financial center, and last year it regained the top spot globally in terms of IPO fundraising.
Editor/Lambor
