From 1 January 2025, the Chinese Gold and Silver Exchange Society, which has operated in Hong Kong for more than a century, completed its renaming and corporatisation to become the Hong Kong Gold Exchange. The move is seen as an important step in strengthening Hong Kong’s position as an international financial centre and building an international gold trading centre.

From the Chinese Gold and Silver Exchange Society to the Hong Kong Gold Exchange

The Society was founded in 1910, originally as the “Gold and Silver Firms”. The renaming and establishment followed about two years of preparation and approval by several HKSAR government departments. On 20 December 2024, the body announced its council election results; 25 council and supervisory members moved to the new exchange, and the former president became chairman of the new exchange.

Business direction

According to reports, while continuing to trade physical gold and silver products, the new exchange plans to bring together dealers, refiners and others to discuss accredited brands and standards, and plans to launch “GoldZip” digital gold for listing on SFC-licensed virtual-asset trading platforms. It also aims to attract more international members through measures such as capital increases.

Government support measures

  • On 18 December 2024, the Financial Services and the Treasury Bureau set up a Working Group on Promoting Gold Market Development to review areas related to gold trading, including improving trading and regulatory mechanisms and promotion at home and abroad. The exchange’s chairman and two vice-chairmen were invited to join.
  • The Airport Authority is planning to expand gold storage capacity near the airport, and the industry has proposed large-scale gold vaults outside the airport area, such as in the Loop.
  • Hong Kong also plans to explore connectivity with related Mainland financial markets in due course and promote a “Gold Connect”.

Exchange chairman Cheung Tak-hay said the new exchange fits the government’s goal of building an international gold trading centre and will focus on improving transparency and corporate governance. Chief executive Fung Wai-nang said the industry hopes to build new vaults in the Northern Metropolis to develop derivatives and related industries such as shipping, logistics and insurance.