Hong Kong steps up bid to become global gold trading hub with Shanghai agreement

South China Morning PostCenter-RightEN 1 min read 100% complete by Oscar LiuJanuary 18, 2026 at 05:24 AM

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Hong Kong is intensifying its efforts to become a global gold trading hub by establishing a cross-border gold trade clearing system with Shanghai. A memorandum of understanding will be signed next week between Hong Kong and the Shanghai Gold Exchange at the Asian Financial Forum. The agreement aims to enhance the reliability and efficiency of gold trading and delivery in Hong Kong, lower transaction costs, and increase liquidity. Hong Kong plans to launch trial operations within the year, inviting the Shanghai Gold Exchange to participate. This initiative is driven by a growing investor trend away from US dollar-denominated assets amid geopolitical tensions and a surge in global gold demand.

Key Entities & Roles

Key Player Opposition Context

United States 40% Asian Financial Forum 50% Shanghai Gold Exchange ×270% Paul Chan Mo-po ×270% Shanghai ×280% Hong Kong ×390%

Keywords

gold trading hub 100% cross-border gold trade 80% shanghai gold exchange 70% clearing system 70% financial infrastructure 60% geopolitical tensions 50% gold demand 50% asian financial forum 40% us dollar 40%