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Hong Kong plans to formalize a new link with the Shanghai Gold Exchange through a memorandum of understanding that will be signed at the Asian Financial Forum next week, according to Financial Secretary Paul Chan in a blog post published on Sunday. Paul said he was leaving for Davos to attend the World Economic Forum, where about 3,000 political and business leaders from more than 100 countries will meet to talk about global risks. He said he would hold meetings, deliver speeches, and promote Hong Kong’s position under China’s upcoming 15th Five-Year Plan. Gold clearing plans target faster trades and lower costs Paul said Hong Kong needs to move faster in a global environment that is changing by the month. Under the One Country, Two Systems framework, the city plays the role of a connector and value builder, especially as global trade rules change. One area the government wants to push harder is gold trading, with the goal of building an international gold hub. He said demand for gold has grown as investors look beyond US dollar assets. Gold prices jumped more than 60% in 2025, the biggest annual gain since 1979. By the third quarter of last year, global gold demand by value rose 44% year on year to $146 billion. Paul added that Asia now needs more reliable platforms for storing, trading, clearing, and pricing gold. Gold trading activity inside Hong Kong has already picked up. By November, average daily turnover of 99 tael gold on the local exchange climbed more than two times from a year earlier to HK$2.9 billion. Paul said the growth exposed a weakness. All over-the-counter spot trades still rely on direct settlement between buyers and sellers. There is no central clearing, which slows trades and raises risks. The government is now pushing to…

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Filed under: News - @ January 18, 2026 12:27 pm