Hong Kong Inaugurates Trial Operation of Gold Clearing and Settlement System Hong Kong has launched the trial operation of its new gold clearing and settlement system, a move aimed at establishing the city as a major trading hub for the precious metal.
The system, owned by the government, offers a range of services to banks and other institutions. The development is part of Hong Kong's efforts to consolidate its status as a global financial centre.
Last year, China scrapped restrictions on gold imports, paving the way for greater trade in the metal. This move has been followed by years of gradual dismantling of key controls on gold trading.