Hong Kong Seeks the Midas Touch by Transforming Into a Global Gold Market Powerhouse

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Hong Kong’s Chief Executive John Lee Ka-chiu gives his third policy address on Oct. 16, 2024.

Hong Kong’s Chief Executive John Lee Ka-chiu has announced plans to transform the city into an international gold trading center, utilizing its strategic advantages amid growing geopolitical tensions.

In his third policy address Wednesday, Lee outlined measures to position Hong Kong as a gold trading powerhouse by building advanced trading infrastructure, expanding gold storage facilities and integrating gold products with Chinese mainland’s financial networks.

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Hong Kong plans to transform into a global gold trading hub by enhancing trading infrastructure, storage facilities, and integrating with mainland China's financial networks.
A specialized team will be set up by 2024 to oversee these developments, as the city seeks to double its gold storage capacity to 300-350 tons to meet demand.
Tax incentives and international collaborations aim to attract more enterprises, bolstering Hong Kong's position in commodity trading and logistics.

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