Paul Chan: HKEX is preparing RMB physical gold futures; gold clearing system expected to go live in Q1 next year.

Zhitong Finance APP has learned that Hong Kong Financial Secretary Paul Chan, speaking at the Global Financial Leaders' Investment Summit in Hong Kong, said that Hong Kong plans to expand its gold storage capacity to more than 2,000 metric tons within three years and welcomes central banks and international investors from around the world to store gold in Hong Kong. Hong Kong's central gold clearing and settlement system is expected to go live in the first quarter of next year, and HKEX is preparing to launch a new RMB-denominated gold futures contract with physical delivery, strengthening the infrastructure of Hong Kong's international gold trading center.