https://www-scmp-com.libproxy1.nus.edu.sg/rss/519876/feed en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Daniel Ren Daniel Ren Hong Kong has taken another step towards building itself into an international gold trading hub, after confirming deals that will see gold refineries localise production in the city. The addition of the local refineries will allow Hong Kong to form a complete gold trading ecosystem, boosting belief in the city’s ability to become a trusted global gold vault, according to analysts. “Hong Kong has been substantiating the idea of a global gold hub now that it no longer needs mainland-based... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371968/hong-kong-burnishes-gold-hub-credentials-local-refineries-deal https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3371968/hong-kong-burnishes-gold-hub-credentials-local-refineries-deal Fri, 23 Oct 2026 13:36:12 +0000 Lam Ka-sing,Denise Tsang Lam Ka-sing,Denise Tsang Distinctive features will set Hong Kong apart from London, a major bullion hub, as the city accelerates efforts to develop an international gold and precious metals trading ecosystem covering the entire value chain, a minister has told the South China Morning Post. In an exclusive interview on Thursday, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the city would officially launch a central gold clearing platform in the first quarter of next year. It would... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371228/hong-kong-touts-distinct-features-set-it-apart-london-global-gold-hub-push https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371228/hong-kong-touts-distinct-features-set-it-apart-london-global-gold-hub-push Sat, 17 Oct 2026 04:01:11 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s central bank boosted gold holdings by the most in three years last month, taking advantage of a dip in prices to further pare its exposure to US dollar assets amid tensions with Washington. Holdings rose by 740,000 troy ounces (23 tonnes) to reach 77.47 million ounces at the end of September, the People’s Bank of China said last week. The total gold pile is worth about US$324 billion at market prices and compares with China’s foreign exchange reserves of US$3.4 trillion. The People’s... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/commodities/article/3370735/pboc-adds-most-gold-three-years-amid-china-pivot-us-dollar https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/commodities/article/3370735/pboc-adds-most-gold-three-years-amid-china-pivot-us-dollar Tue, 13 Oct 2026 09:40:58 +0000 Zhu Wenqian Zhu Wenqian Hong Kong Exchanges and Clearing (HKEX) is planning further measures to boost market liquidity, attract more international investors and expand the use of China’s currency, including through yuan-denominated gold futures and stock trading, according to a blog post by its CEO on Monday. The plans come as the city steps up efforts to reinforce its position as a leading international financial centre, following priorities outlined in the government’s policy address and the city’s five-year... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370617/hong-kong-expand-indices-derivatives-and-yuan-denominated-products-hkex-ceo https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3370617/hong-kong-expand-indices-derivatives-and-yuan-denominated-products-hkex-ceo Mon, 12 Oct 2026 11:07:25 +0000 Chow Chung-yan Chow Chung-yan Beijing is building a gold-backed monetary architecture to accelerate yuan internationalisation. In this three-part series, Part 1 traces China’s path as a gold superpower, while Part 2 explores the crucial role of Hong Kong’s offshore vaulting infrastructure. Hong Kong’s ambition to become an international gold trading centre rests not only on serving the nation’s financial needs, but also on China’s booming consumer market for gold. As the world’s largest gold producer and importer, China... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3370195/game-changer-hong-kongs-gold-ambition-shenzhens-jewellery-hub https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3370195/game-changer-hong-kongs-gold-ambition-shenzhens-jewellery-hub Mon, 12 Oct 2026 01:00:15 +0000 Chow Chung-yan Chow Chung-yan Beijing is building a gold-backed monetary architecture to accelerate yuan internationalisation. In this three-part series, Part 1 traces China’s path to becoming a gold superpower, while Part 3 explores Hong Kong’s unique role in the emerging gold trading ecosystem. In 2013, one-third of the world’s traded gold passed through Hong Kong. That year, the city imported 1,158 tonnes of bullion, overtaking India, the traditional top buyer. For all our love of the glittering metal, little of it stayed... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3369468/hong-kongs-bridge-gold-completes-chinas-yuan-ambition https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3369468/hong-kongs-bridge-gold-completes-chinas-yuan-ambition Tue, 06 Oct 2026 01:00:05 +0000 Zoe SL Chan Zoe SL Chan The Hong Kong government has appointed Bryan Chan Ping-keung, a former executive at bourse operator Hong Kong Exchanges and Clearing (HKEX), as CEO to lead the development and operation of the city’s new central clearing and settlement system for gold. Chan will head Hong Kong Precious Metals Central Clearing (HKPMCC), a wholly government-owned entity established in January to run the clearing system for precious metals. His appointment would take effect on October 2 for a three-year term,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369079/hong-kong-finds-gold-trading-leader-former-exchange-executive-bryan-chan https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369079/hong-kong-finds-gold-trading-leader-former-exchange-executive-bryan-chan Mon, 28 Sep 2026 10:40:33 +0000 Enoch Yiu Enoch Yiu Bourse operator Hong Kong Exchanges and Clearing (HKEX) will launch yuan-denominated gold futures early next year, while the city’s de facto central bank plans to introduce more yuan products and platforms to support the diversification and digitalisation of the currency’s internationalisation, speakers at a banking summit said on Wednesday. “We have recently reactivated our gold contract in the US dollar. But in the future, perhaps sometime early next year, we will be coming up with a... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3368483/hong-kong-unveils-gold-bond-and-liquidity-plans-drive-next-phase-yuan-adoption Wed, 23 Sep 2026 09:00:25 +0000 Themis Qi Themis Qi Chinese gold jewellers are seeking opportunities in the Middle East and India, leveraging their advanced crafting technologies as the industry struggles amid the precious metal’s price volatility, according to an international association for the sector. At the most recent Jewellery & Gem World Hong Kong fair, buyers from the two regions accounted for most visitors, said Wang Lixin, China CEO of the World Gold Council, in a recent interview with the South China Morning Post. The interest was... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3368110/chinese-consumption-gold-jewellery-slumps-34-sellers-look-markets-abroad-wgc https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3368110/chinese-consumption-gold-jewellery-slumps-34-sellers-look-markets-abroad-wgc Mon, 21 Sep 2026 02:00:39 +0000 Matthew Cheng Matthew Cheng Hong Kong’s push to develop into a premier gold and commodity trading hub has gained momentum, with local metal storage surpassing 30,000 tonnes, a minister has said, as the administration positions the city as the “must-choose destination” for global capital. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Friday the government would expand renminbi settlement of payments for mainland Chinese services, such as buying water from the Dongjiang, in a bid to... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3368040/hong-kongs-metal-storage-hits-30000-tonnes-push-become-global-commodity-hub https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3368040/hong-kongs-metal-storage-hits-30000-tonnes-push-become-global-commodity-hub Fri, 18 Sep 2026 11:02:48 +0000 Edith Lin Edith Lin Hong Kong’s plan to raise its gold holdings will further cement the city’s status as an international financial centre, with the possibility of building vaults in the Northern Metropolis megadevelopment, according to authorities. Financial Secretary Paul Chan Mo-po also said on Thursday the city was under “no pressure” to raise interest rates following a US rate hike, but stressed authorities would “keep a close watch” on the situation. Speaking at a conference the day after the policy address... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367894/hong-kong-eyeing-gold-expansion-and-northern-metropolis-vaults-cement-hub-status https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367894/hong-kong-eyeing-gold-expansion-and-northern-metropolis-vaults-cement-hub-status Thu, 17 Sep 2026 13:03:26 +0000 Daisy Wu Daisy Wu Hong Kong is broadening its equity markets, deepening its offshore yuan business and expanding further into gold trading under its first five-year plan for economic and social development, as the city seeks to defend its standing as Asia’s top financial centre and close the gap with London. Unveiled on Wednesday by Chief Executive John Lee Ka-chiu alongside his 2026 policy address, the blueprint outlines a package of financial plans to “consolidate and enhance Hong Kong’s status as an... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367816/how-hong-kongs-new-5-year-plan-courts-global-capital-eye-market-dominance Thu, 17 Sep 2026 07:00:09 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, is considering increasing its exposure to gold and other precious metals as part of the government’s push to develop the city into a gold trading hub. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Thursday that the Exchange Fund would continue to invest mainly in US dollar assets to support the Hong Kong dollar’s peg with the US currency. Yue said the Exchange Fund could increase its... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367814/exchange-fund-weighs-bigger-gold-holdings-support-hong-kongs-trading-hub-plan Thu, 17 Sep 2026 06:00:14 +0000 Themis Qi Themis Qi Gold prices bounced back after the US Federal Reserve’s interest rate increase, as analysts and investment banks maintained a positive long-term outlook for the metal, citing structural challenges facing the world’s largest economy. Spot gold traded at US$4,326 an ounce at 4pm on Thursday in Hong Kong, up 1.52 per cent since the market opened at noon. The bullion once dived as much as 2.7 per cent to US$4,234 at 3am in Hong Kong, right after the Fed meeting. The US central bank announced a... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3367788/gold-rebounds-after-fed-rate-rise-banks-back-long-term-demand-outlook https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3367788/gold-rebounds-after-fed-rate-rise-banks-back-long-term-demand-outlook Thu, 17 Sep 2026 01:08:08 +0000 Lam Ka-sing Lam Ka-sing Hong Kong will expand the use of the yuan in areas including gold trading and cross-border payments, as policy blueprints call for the city’s biggest push yet to internationalise the Chinese currency. Chief Executive John Lee Ka-chiu on Wednesday devoted part of the city’s first five-year plan and his annual policy address to developing a gold trading ecosystem and creating a regional intellectual property trading centre in the city. “We will consolidate and enhance Hong Kong’s status as an... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367770/hong-kong-targets-gold-trading-fps-unionpay-link-boost-yuan-use https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367770/hong-kong-targets-gold-trading-fps-unionpay-link-boost-yuan-use Wed, 16 Sep 2026 15:37:51 +0000 Lo Hoi-ying,Lam Ka-sing Lo Hoi-ying,Lam Ka-sing Hong Kong will introduce various tax incentives for new finance and technology industries to attract businesses and reinforce the city’s role as a leading financial hub, the city leader has announced in his policy address. Tax concessions to draw intellectual property (IP) businesses and selected industries to the city were among the new measures Chief Executive John Lee Ka-chiu announced on Wednesday, while the halving of the profits tax rate for gold traders would be sped up. To speed up the... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367754/hong-kong-woo-finance-and-tech-firms-new-tax-breaks https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3367754/hong-kong-woo-finance-and-tech-firms-new-tax-breaks Wed, 16 Sep 2026 13:35:31 +0000 He Huifeng He Huifeng Most of the gold jewellery shops that once lined the main commercial street in Biyang, Henan province, have closed as gold prices hover at high but volatile levels and a decline in marriages dents demand. “Gold jewellery used to be very popular in our small county,” said 25-year-old kindergarten teacher Yu Qian, who described herself as a frequent buyer of gold jewellery. “There used to be more than 20 gold shops operating here, but I’d estimate that over two-thirds of them have already closed... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367009/jewellery-shops-shut-down-chinese-consumers-switch-focus-gold-bars-and-coins https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367009/jewellery-shops-shut-down-chinese-consumers-switch-focus-gold-bars-and-coins Thu, 10 Sep 2026 05:44:06 +0000 Emma Ma Emma Ma Amid persistent geopolitical strains and growing concerns over the weaponisation of the US dollar, European central banks have continued shifting gold reserves away from US vaults – with the latest move announced by the Netherlands – and analysts say China could take it as an opportunity to draw more bullion flows into custody hubs in Shanghai and Hong Kong. De Nederlandsche Bank, the Dutch central bank, said in a news release on Wednesday that it had transferred 86 tonnes of gold from vaults in... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366640/golden-opportunity-can-china-lure-european-central-bank-gold-reserves-us https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366640/golden-opportunity-can-china-lure-european-central-bank-gold-reserves-us Mon, 07 Sep 2026 11:00:10 +0000 Zhang Shidong Zhang Shidong Gold will probably test US$5,000 an ounce by the end of 2026, as demand from central banks diversifying their foreign reserves remains strong, countering fears of US monetary tightening after strong labour data and a hawkish tone from the Federal Reserve, according to investment banks. RBC Capital Markets is the latest to join the bullish camp, forecasting US$4,929 by year-end and US$5,296 in 2027. That aligned with Goldman Sachs and State Street Investment Management, which predicted that gold... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366597/can-gold-hit-us5000-wall-street-turns-bullish-despite-us-job-growth-fuelling-rate-fears https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3366597/can-gold-hit-us5000-wall-street-turns-bullish-despite-us-job-growth-fuelling-rate-fears Mon, 07 Sep 2026 06:00:29 +0000 Julie Zhang Julie Zhang As the Netherlands moved gold out of the US and Canada over geopolitical concerns, attention is turning to whether Hong Kong can capitalise on central banks rethinking where they keep their bullion. The city faces competition from Singapore, which is expected to launch central bank gold-vaulting services in October as part of efforts to cement its status as a gold trading hub in Asia. Where central banks chose to store gold came down to three factors, said Iggy Ioppe, a Wall Street veteran with... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366357/can-hong-kong-outshine-singapore-central-banks-rethink-gold-custody-amid-global-risks https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366357/can-hong-kong-outshine-singapore-central-banks-rethink-gold-custody-amid-global-risks Fri, 04 Sep 2026 09:00:11 +0000 Julie Zhang Julie Zhang Sussi Ye began buying gold bars in small batches at the start of the year, slowly building a hoard now worth about 200,000 yuan (US$29,700). Despite the metal’s price swings since then, she has not sold a single gram. “I prefer investing in physical gold instead of gold-linked financial products,” said the 32-year-old resident of Hangzhou, capital of eastern China’s Zhejiang province. “I like that it’s tangible, you can hold it, and that gives you a sense of security. If I get married someday, I... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366187/amid-global-risks-younger-investors-favour-tangible-bars-paper-gold-loses-shine https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366187/amid-global-risks-younger-investors-favour-tangible-bars-paper-gold-loses-shine Thu, 03 Sep 2026 05:35:33 +0000 Julie Zhang Julie Zhang For decades, Hong Kong has been a hub for gold jewellery. Brands such as Chow Tai Fook and Chow Sang Sang have drawn buyers from the world over, aided by the city’s duty-free status and its proximity to one of the world’s largest gold-consuming markets. Two years ago, when officials set the goal of making Hong Kong a global gold trading hub comparable to New York and London, it was met with scepticism. Similar efforts in the past had ended in failure. The doubts, however, began to fade in early... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3365719/golden-hour-why-hong-kong-may-finally-succeed-becoming-precious-metals-trading-hub https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3365719/golden-hour-why-hong-kong-may-finally-succeed-becoming-precious-metals-trading-hub Mon, 31 Aug 2026 01:00:14 +0000 Julie Zhang Julie Zhang Gold flows into Hong Kong eased to about 107 tonnes in July despite mainland corporate buyers pouring capital into new bullion vaults, as they bet on the city’s strategic ambition to establish itself as Asia’s premier hub for the precious metal. The city’s non-monetary gold imports fell about 18 per cent from June, a month that registered a decade-long high as banks built up inventory ahead of the trial launch of the city’s gold clearing and settlement system that opened on July 7. The value of... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3365422/hong-kong-gold-imports-fall-18-july-mainland-giants-rush-build-vaults https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3365422/hong-kong-gold-imports-fall-18-july-mainland-giants-rush-build-vaults Thu, 27 Aug 2026 06:43:42 +0000 Julie Zhang Julie Zhang China is building a global network of gold vaults and accelerating central bank reserve buying as part of efforts to promote the yuan’s role in international trade, according to an S&P Global Ratings report on Tuesday. Firms such as Zijin Mining – China’s largest gold processor – and Shandong Gold Mining were also expected to expand “faster than most of their global peers” after Beijing reclassified gold from a financial asset to a “strategic mineral” in 2025, the report said. “If you are... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365092/gold-strategy-why-chinese-global-network-vaults-would-bolster-yuans-trade-role https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365092/gold-strategy-why-chinese-global-network-vaults-would-bolster-yuans-trade-role Tue, 25 Aug 2026 02:30:11 +0000 Zhang Shidong Zhang Shidong The US Treasury’s decision to boost its buy-backs of long-maturity bonds is strengthening the debasement trade on gold, as investment banks turn more upbeat on the precious metal before the Federal Reserve’s annual meeting in Jackson Hole. Gold traded at a three-month high of US$4,698 an ounce on Tuesday, extending a 5.1 per cent gain last week after Treasury Secretary Scott Bessent unveiled the repurchase programme, which he said was likely to surpass US$4 billion. The announcement renewed... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365059/us-treasury-bond-buy-back-reinforces-gold-debasement-trade-jackson-hole-meeting-looms https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365059/us-treasury-bond-buy-back-reinforces-gold-debasement-trade-jackson-hole-meeting-looms Tue, 25 Aug 2026 01:00:08 +0000 Julie Zhang Julie Zhang Hong Kong Exchanges and Clearing (HKEX) has reported record-breaking physical deliveries and a trading surge in its US dollar-denominated gold futures contract, underscoring the city’s ambition to become a global hub for the precious metal amid widening trade restrictions by the United States. The bourse operator physically delivered 145kg (319.67lbs) of gold, the highest single-day tally since the product was first launched in 2018, according to a statement published on HKEX’s official WeChat... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364790/hkex-gold-futures-smash-delivery-record-us-sanctions-reshape-trade https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3364790/hkex-gold-futures-smash-delivery-record-us-sanctions-reshape-trade Fri, 21 Aug 2026 08:00:06 +0000 Julie Zhang Julie Zhang The Hong Kong Gold Exchange (HKGX) and TGX Technology have launched a joint venture to build a “secure, stable and internationally competitive” gold trading and clearing platform, as the city pushes to become a gold trading hub. Hong Kong Gold Exchange Trading System (HKGXTS) would draw on technology partners, including Alibaba Cloud – which backs TGX Technology – and Hundsun Technologies, to deliver the platform, according to a statement issued on Tuesday. Alibaba owns the South China Morning... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364508/hong-kong-gold-exchange-taps-tech-strength-joint-venture-power-gold-settlement https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364508/hong-kong-gold-exchange-taps-tech-strength-joint-venture-power-gold-settlement Wed, 19 Aug 2026 03:28:54 +0000 Julie Zhang Julie Zhang The US Federal Reserve’s rate policies under Kevin Warsh have outweighed geopolitical tensions and Beijing’s dedicated gold purchases to become the decisive factor influencing price forecasts for the precious metal, according to a survey. Analysts cut their price projections for 2026 compared with six months ago, said the London Bullion Market Association (LBMA), the world’s authority for precious metals, in its mid-year survey released on Tuesday. Gold prices hit a record high of over US$5,600... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363733/fed-policy-outweighs-geopolitical-risks-china-purchases-gold-forecasts-retreat-survey https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363733/fed-policy-outweighs-geopolitical-risks-china-purchases-gold-forecasts-retreat-survey Wed, 12 Aug 2026 08:00:14 +0000 Zhang Shidong Zhang Shidong A rebound in gold prices has pushed shares of Chinese producers of the precious metal near record highs, while the bullion’s status as a strategic investment remains intact amid global central bank buying and financial stress in the world’s key economies. Shares of Zijin Mining Group and Chifeng Jilong Gold Mining Group, the nation’s biggest metal producers, have risen at least 40 per cent from July lows in Shanghai, approaching all-time highs set earlier this year. A gauge of mainland-listed... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3363620/gold-breakout-rally-sends-chinese-bullion-stocks-near-highs-central-banks-keep-buying https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3363620/gold-breakout-rally-sends-chinese-bullion-stocks-near-highs-central-banks-keep-buying Tue, 11 Aug 2026 06:00:13 +0000 Julie Zhang Julie Zhang Gold prices have “explosive” upside potential, according to analysts, boding well for Hong Kong’s ambitions as a trading hub as Asian central banks continue to have a voracious appetite for stockpiling bullion. Supporting the outlook, Beijing – which has added to its gold reserve for 20 straight months – wants to better connect the Shanghai Gold Exchange to Hong Kong, and the South Korean central bank plans to buy gold for the first time in 13 years. “Gold remains in an explosive phase of the... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3363180/golds-price-potential-still-explosive-amid-beijing-hoarding-hong-kong-trading-push https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3363180/golds-price-potential-still-explosive-amid-beijing-hoarding-hong-kong-trading-push Fri, 07 Aug 2026 00:00:14 +0000 Daisy Wu,Dake Liu Daisy Wu,Dake Liu Hong Kong’s gold imports are set to maintain an upwards trajectory after crossing the 150-tonne mark in June for the first time in over a decade, driven by renewed investor appetite and the city’s ambition to transform itself into a premier international precious metals trading hub, analysts said. The city’s gross monthly gold imports reached 150.48 tonnes last month, representing a nearly 29 per cent month-on-month surge, according to data released this week by the Census and Statistics... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362350/trading-hub-ambitions-see-hong-kongs-gold-imports-hit-11-year-high-june https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362350/trading-hub-ambitions-see-hong-kongs-gold-imports-hit-11-year-high-june Thu, 30 Jul 2026 05:27:21 +0000 Themis Qi Themis Qi Hong Kong’s determination to boost its role as a global wealth management hub has raised market expectations that the city will approve a bill offering tax relief to fund managers this year. Speaking at a media briefing on Tuesday, Sandy Fung, KPMG China’s partner of tax and alternative investments, said the bill would be passed “soon” by the Legislative Council (Legco), the city’s lawmaking body. “The bill could attract lots of fund managers and related talent to settle in Hong Kong, further... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3361401/hong-kong-tipped-approve-hedge-fund-tax-breaks-attracting-investment-talent https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3361401/hong-kong-tipped-approve-hedge-fund-tax-breaks-attracting-investment-talent Wed, 22 Jul 2026 02:30:08 +0000 Julie Zhang Julie Zhang Chinese gold producers have embarked on a wave of overseas acquisitions in recent years, snapping up mines in countries ranging from Kenya to Colombia. Now, they are reaping the rewards as sky-high gold prices lift their earnings. Prices for the precious metal soared to record highs last year and remain highly elevated despite a recent sell-off, as central banks and investors seek a safe haven amid a turbulent global outlook. Analysts have said prices could reach US$4,500 per ounce by the end of... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360924/how-chinas-resources-deals-have-literally-turned-gold-mine https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360924/how-chinas-resources-deals-have-literally-turned-gold-mine Fri, 17 Jul 2026 08:00:21 +0000 Matteo Giovannini Matteo Giovannini When Hong Kong launched its latest Connect programme on July 7, most of the attention focused on gold. That misses the bigger story. Delivery Connect, part of the city’s new gold clearing and settlement system, is not simply another financial initiative but the latest evidence that Beijing has settled on a distinctive model for opening up China’s financial markets. Rather than embracing wholesale financial liberalisation, China is steadily integrating with global markets through carefully... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3360220/connect-scheme-gold-shines-light-chinas-financial-liberalisation https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3360220/connect-scheme-gold-shines-light-chinas-financial-liberalisation Wed, 15 Jul 2026 08:31:31 +0000 SCMP Editorial SCMP Editorial Words like gold, bond and yuan are music to Hong Kong leaders’ ears, but they also entail a heavy responsibility. The city has long been a global financial hub. However, our role has now expanded: to be a premier offshore yuan centre not only for ourselves but for the nation. The pieces are falling into place. To internationalise the yuan, Hong Kong will substantially build up the local infrastructure for gold and bond trading. Why now? Because the world is no longer such a safe and stable... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3359823/gold-bond-push-boosts-hong-kongs-role-nations-financial-future https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3359823/gold-bond-push-boosts-hong-kongs-role-nations-financial-future Wed, 08 Jul 2026 23:15:08 +0000 Julie Zhang Julie Zhang Chinese investors pulled a record US$2.91 billion out of domestic gold exchange-traded funds (ETFs) in June, taking profits as a stock-market surge and a strong yuan dimmed the appeal of the safe-haven metal, according to the World Gold Council (WGC). Mainland Chinese funds were the biggest drag on Asia’s gold ETFs in June, “as local investor risk appetite continued to improve”, prompting them to turn to higher risk, higher return assets, according to the findings of the council’s report... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3359828/chinese-profit-taking-triggers-record-gold-etf-outflows-amid-shift-equities https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3359828/chinese-profit-taking-triggers-record-gold-etf-outflows-amid-shift-equities Wed, 08 Jul 2026 12:00:07 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s central bank announced more measures to expand Hong Kong’s role as an offshore yuan hub, injecting “vitality” into the city’s markets and supporting efforts to grow international use of the currency. Institutions in mainland China would be able to buy a net 800 billion yuan (US$118 billion) of offshore bonds each year via the Southbound Bond Connect scheme, an increase of 60 per cent, People’s Bank of China (PBOC) Governor Pan Gongsheng said on Tuesday. The scope of eligible products... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3359848/china-further-boosts-hong-kongs-role-offshore-yuan-hub https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/banking-finance/article/3359848/china-further-boosts-hong-kongs-role-offshore-yuan-hub Wed, 08 Jul 2026 09:11:30 +0000 SCMP Editorial SCMP Editorial Hong Kong’s strategy as a “superconnector” in the age of artificial intelligence unfolded further on Tuesday before an audience of hundreds of senior policymakers, business executives, academics, investors and innovators at the South China Morning Post’s China Conference. Chief Executive John Lee Ka-chiu said the city’s high-quality economic development would be guided by its first five-year blueprint, in tandem with the nation’s 15th five-year plan, and by his coming policy address, with AI as... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3359739/age-ai-hong-kongs-strategy-superconnector-progressing https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3359739/age-ai-hong-kongs-strategy-superconnector-progressing Tue, 07 Jul 2026 23:15:07 +0000 Chelsea Yang Chelsea Yang China’s central bank extended its gold-buying streak to a 20th straight month in June, adding 480,000 troy ounces (14.93 tonnes) to its reserves as policymakers continued to accumulate bullion amid de-dollarisation discussions. The People’s Bank of China said gold holdings rose to 75.44 million troy ounces (2,346 tonnes) at the end of June. The latest addition extended the longest buying streak since 2015. The steady accumulation underscores Beijing’s drive to diversify its foreign-exchange... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3359742/china-extends-gold-buying-binge-20th-month-amid-beijings-de-dollarisation-push https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3359742/china-extends-gold-buying-binge-20th-month-amid-beijings-de-dollarisation-push Tue, 07 Jul 2026 12:00:13 +0000 Enoch Yiu,Daisy Wu Enoch Yiu,Daisy Wu Mainland China’s foreign reserves would continue to increase asset allocation in Hong Kong, providing further momentum to the city’s capital market development, the governor of the People’s Bank of China (PBOC) said on Tuesday. Speaking at the Hong Kong FIC & Bond Connect Summit, Pan Gongsheng unveiled several substantial policy enhancements, including a 60 per cent hike in the investment quota for Bond Connect’s southbound segment, alongside measures to expand investment channels and diversify... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359655/more-mainland-china-forex-reserve-investment-give-vitality-hong-kong-pboc-chief https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359655/more-mainland-china-forex-reserve-investment-give-vitality-hong-kong-pboc-chief Tue, 07 Jul 2026 01:26:07 +0000 Enoch Yiu,Julie Zhang,Wynna Wong Enoch Yiu,Julie Zhang,Wynna Wong Hong Kong inaugurated the trial operation of a gold clearing and settlement system on Tuesday, a step towards building the city into a trading hub and price-setter for the precious metal. The decision was announced at the Hong Kong FIC & Bond Connect Summit by Chief Executive John Lee Ka-chiu, who hailed it as a “milestone”. “The government-owned Hong Kong Precious Metals Central Clearing [Company] will offer a comprehensive suite of services ranging from gold deposits and withdrawals to... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3359651/hong-kongs-gold-clearing-and-settlement-firm-joins-shanghai-exchange https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3359651/hong-kongs-gold-clearing-and-settlement-firm-joins-shanghai-exchange Tue, 07 Jul 2026 00:30:17 +0000 Zhu Wenqian Zhu Wenqian Hong Kong’s gold futures trading has surged on the back of a fee waiver and as the city government presses ahead with plans to become an international trading hub for the precious metal, with volumes breaking a record on Monday. A total of 6,676 US dollar gold futures contracts were traded during the day session, surpassing the previous high of 3,039 contracts recorded in November 2022, Hong Kong Exchanges and Clearing (HKEX) said in a LinkedIn post on Monday. Bid-ask spreads for active contract... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359627/hong-kong-us-dollar-gold-futures-trading-hits-record-high-ahead-clearing-system-launch https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359627/hong-kong-us-dollar-gold-futures-trading-hits-record-high-ahead-clearing-system-launch Mon, 06 Jul 2026 12:36:46 +0000 Enoch Yiu Enoch Yiu Hong Kong’s pension fund will soon be able to invest in more gold exchange-traded funds (ETFs) as part of the government’s push to turn the city into a trading hub for the precious metal, a source with knowledge of the matter told the South China Morning Post. The Mandatory Provident Fund Schemes Authority (MPFA), which oversaw HK$1.53 trillion (US$195 billion) worth of pension funds as of the end of March, planned to amend the rules about gold ETF investment later this week, the person... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359494/hong-kong-pension-fund-ease-rules-and-increase-gold-etfs-says-source https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3359494/hong-kong-pension-fund-ease-rules-and-increase-gold-etfs-says-source Mon, 06 Jul 2026 02:00:27 +0000 Enoch Yiu,Julie Zhang Enoch Yiu,Julie Zhang Hong Kong will launch a long-awaited gold clearing and settlement system next week, making a giant stride towards being an international price-setter for the precious metal, according to two sources with knowledge of the matter. Authorities plan to process the first gold settlement through the new system on Tuesday, after deal-making data was expected to be input into the system on Monday, two separate sources told the South China Morning Post. “We have seen a lot of gold leave London, the US... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3359239/hong-kong-launch-long-awaited-gold-clearing-and-settlement-system-next-week-sources https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3359239/hong-kong-launch-long-awaited-gold-clearing-and-settlement-system-next-week-sources Fri, 03 Jul 2026 02:21:12 +0000 Daisy Wu Daisy Wu Hong Kong is pressing ahead with an overhaul of listing rules and the launch of new product initiatives, the city’s deputy finance chief said on Friday as the bourse operator marked 26 years as a publicly traded company. Speaking at the anniversary ceremony of Hong Kong Exchanges and Clearing (HKEX), Deputy Financial Secretary Michael Wong Wai-lun outlined reforms under review, including optimising weighted voting rights, easing secondary listings by overseas issuers, and expanding flexibility... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358546/growth-agenda-hong-kong-vows-stronger-exchange-reforms-bond-futures-and-gold-push https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3358546/growth-agenda-hong-kong-vows-stronger-exchange-reforms-bond-futures-and-gold-push Sat, 27 Jun 2026 00:00:14 +0000 Mia Nurmamat Mia Nurmamat As the 2026 Fifa World Cup prepares to kick off on Thursday, the world’s elite players are vying for more than just glory – they seek a shimmering prize whose bullion value has eclipsed all previous benchmarks. The trophy set to be hoisted in the US state of New Jersey next month is now worth 157 per cent more than it was during the 2022 tournament in Qatar, owing to a historic rally in gold prices. The raw gold value of the statue currently stands at around US$713,000 – a staggering jump from... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3356624/gold-laden-world-cup-trophys-value-surges-157-how-much-bullion-worth https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3356624/gold-laden-world-cup-trophys-value-surges-157-how-much-bullion-worth Wed, 10 Jun 2026 14:00:06 +0000 Nikola Mikovic Nikola Mikovic As part of its decades-old “multi-vector” foreign policy, based on balancing relations between major powers such as China, Russia, the United States and the European Union, Kazakhstan – Central Asia’s largest country – is now actively diversifying its economic and financial policies. While in the past, Astana sought to strengthen cooperation with the United Arab Emirates (UAE), the leading international financial hub in the Middle East, today, Hong Kong seems to be becoming a key partner for... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3356148/why-hong-kong-matters-kazakhstans-financial-ambitions https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3356148/why-hong-kong-matters-kazakhstans-financial-ambitions Mon, 08 Jun 2026 12:30:06 +0000 Emma Ma Emma Ma Zhou Baolin, who owns a jewellery shop at Yu Garden, a major gold trading hub in Shanghai, has seen his business run hot and cold since the start of the year. “During the first two months of the year, I sold an average of 2kg to 3kg of gold each day,” he added. “Now daily sales have slumped to just 100 grams or 200 grams.” Zhou was left to rue losses over the past two months because of a downturn in global gold prices, with his sales plunging by around 90 per cent. As he saw it, Chinese... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3355649/gold-slump-chinas-sales-plunge-precious-metals-price-dips-leaving-buyers-wary https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3355649/gold-slump-chinas-sales-plunge-precious-metals-price-dips-leaving-buyers-wary Sun, 07 Jun 2026 09:00:05 +0000 Julie Zhang,Yeon Woo Lee Julie Zhang,Yeon Woo Lee China is expected to keep adding to its gold reserves as central banks in emerging markets turn to the precious metal to diversify their reserve assets, the World Gold Council said. “We expect central banks, including China’s, to continue increasing gold holdings, though the pace may vary,” Joe Cavatoni, the council’s senior market strategist and head of public policy, said this week. China’s gold reserves stood at 74.64 million troy ounces (2,322kg) at the end of last month, up 260,000 troy... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3355268/world-gold-council-says-diversification-driving-chinas-growing-reserves https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/3355268/world-gold-council-says-diversification-driving-chinas-growing-reserves Fri, 29 May 2026 06:00:13 +0000 Peggy Ye Peggy Ye China Asset Management (Hong Kong) launched a new gold exchange-traded fund (ETF) on Thursday, giving retail investors low-cost access to physical gold as the city pushes to link traditional financial products with digital-asset infrastructure. The ChinaAMC Digital Gold ETF, to be listed on the Hong Kong stock exchange on Friday, carries a 0.4 per cent management fee and a minimum board lot investment of about HK$355 (US$45) – lower than all existing gold ETF products in the city – as the firm... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3355194/chinaamc-launches-low-cost-gold-etf-hong-kong-links-bullion-trading-blockchain https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3355194/chinaamc-launches-low-cost-gold-etf-hong-kong-links-bullion-trading-blockchain Thu, 28 May 2026 12:12:58 +0000