Hong Kong Launches Trial of Central Gold Clearing System, Completes First Transactions on July 8

According to Hong Kong's Financial Services and the Treasury Bureau (FSTB), on July 8 the city began trial operation of a new central clearing and settlement system for gold, with the first batch of transactions already completed and the first bullion successfully deposited into designated vaults. The system, operated by the wholly government-owned Hong Kong Precious Metals Central Clearing Company Limited (HKPMCC), aims to enhance Hong Kong's position as an international precious metals hub and support the development of a comprehensive gold trading ecosystem in connection with mainland markets.
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