Hong Kong Gold Central Clearing Pilot Set for This Year, Paul Chan Says

Hong Kong is accelerating plans to build a Hong Kong gold central clearing system and aims to launch a pilot this year, Financial Secretary Paul Chan said.

Chan said demand to diversify away from U.S. dollar assets has lifted gold’s role as a reserve and hedge.

Spot trading on the Hong Kong Gold Exchange more than doubled year on year to HKD2.9bn (USD372m) a day by November 2025, but many deals still settle bilaterally over the counter, creating inefficiencies, he said.

At the Asian Financial Forum next week, the government will sign a memorandum with the Shanghai Gold Exchange and outline steps towards future connectivity.

Chan also said a 20-measure roadmap for the HKMA-backed CargoX trade-finance project will be released this week ahead of the Feb 25 budget.

The Hong Kong gold central clearing pilot is intended to improve settlement efficiency and market infrastructure.