16:55 - 20.05.2026

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May 20, Fineko/abc.az. Hong Kong plans to launch a new gold clearing system by July 2026, ABC.AZ reports, referring to Bloomberg’s informed sources.

Hong Kong's move speaks to the city's plans to become a global trading center for precious metals. The mechanism will reflect the financial infrastructure of London, the world's largest precious metals market, and will allow participants to settle transactions through unallocated accounts. Such accounts enable faster and more scalable trading, which is important for liquidity.

It is noted that Hong Kong has invited a range of China-friendly central banks to participate in the clearing system as part of efforts to promote itself as a center for trade, finance and custody. The Special Administrative Region has also signed a cooperation agreement with the Shanghai Gold Exchange and plans to expand its gold storage capacity to 2,000 tons within three years.