Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chan Ho-lim, highlighted the impact of geopolitical uncertainties on the global environment over the past year. According to RTHK, despite these challenges, Hong Kong's asset market has shown improvement with continuous capital inflow, an increase in visitor numbers, stable local consumption, and strong performance in overall exports and fixed capital investment. The economy grew by 3.5% last year, marking the third consecutive year of expansion.
Speaking at the Hong Kong Gold Exchange's Lunar New Year opening ceremony, Chan emphasized the government's efforts to diversify Hong Kong's international financial services. The government is actively promoting Hong Kong as an international gold trading center, aiming to attract gold storage, clearing, and settlement activities. This initiative is expected to boost investment in derivative products, storage, insurance, trade, and logistics sectors.
The government has set a target to exceed 2,000 tons of gold storage within three years, establishing Hong Kong as a regional gold storage hub. Efforts are also underway to encourage gold merchants to build or expand refineries in Hong Kong. A memorandum of cooperation has been signed with the Shenzhen Local Financial Supervision Bureau to support Hong Kong gold merchants in refining gold in Shenzhen for export to Hong Kong for trading and settlement. Additionally, the government plans to enhance cooperation between the Shanghai and Hong Kong gold markets. The Hong Kong Gold Clearing System, fully owned by the government, aims to begin trial operations within this year.
Chan stated that the government will continue to optimize policies, financial infrastructure, and technological innovation to attract more international capital and talent to Hong Kong. These efforts are intended to strengthen Hong Kong's role as a super connector and value-added hub, aligning with the national development strategy outlined in the 15th Five-Year Plan, and reinforcing Hong Kong's status as an international financial center.