Market Chatter: China Targets Hong Kong As Gold-Trading Hub

MT Newswires Live14:21

China aims to set up Hong Kong as its major trading hub for gold through the establishment of a trading infrastructure, according to a Tuesday report from Nikkei Asia.

The Hong Kong government plans to expand the island's gold storage facilities to over 2,000 metric tons within three years after the establishment of the Hong Kong Precious Metals Central Clearing, which will begin its trial operation this year, the report said.

The Hong Kong government seeks to cooperate more closely with the Shanghai Gold Exchange, the report said.

The People's Bank of China increased its gold holdings for 15 straight months as it aims to lessen its reliance on the U.S. dollar. The central bank has been trimming the U.S. Treasury's share in its foreign currency reserves, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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The central bank has been trimming the U.S. Treasury's share in its foreign currency reserves, the report said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"07299","symbol_name":"南方两倍做多黄金","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2613977764","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2613977764","pubTimestamp":1771914118,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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