Hong Kong to build int’l gold trading center

HONG KONG, Oct. 16 (Xinhua) — Hong Kong will take advantage of its strength in gold import and export to build itself into an international gold trading center, John Lee, chief executive of China’s Hong Kong Special Administrative Region, said while delivering his third policy address Wednesday.
Noting that Hong Kong ranks among the world’s largest import and export markets for gold by volume, Lee said that the current complexity in geopolitics underscores Hong Kong’s edge in security and stability, and hence an attractive location for investors for gold storage, spurring relevant activities such as gold trading, settlement and delivery.
“We will capitalize on our strengths as an international financial center to build Hong Kong into an international gold trading center,” he said. ■