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Christopher Hui: Goal Is to Establish 2K Metric Tons of Gold Reserves in HK Over Next 3 Yrs
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Secretary for Financial Services and the Treasury, Christopher Hui, attended the Asian Financial Forum where Hong Kong and the Shanghai Gold Exchange signed a memorandum of understanding (MOU) on the development of the gold market. Under the reshaping of geopolitical, inflationary and global monetary policies, the strategic importance of gold is increasing, Hui stated. The cooperation between Hong Kong and Shanghai can deepen complementarity and integration while enhancing the international influence of the RMB. Hong Kong will establish infrastructure like physical warehousing and logistics, with the goal of building a reserve of 2,000 metric tons over the next three years, Hui added. The Airport Authority Hong Kong (AAHK) will also further increase the capacity of the airport's precious metals storage to 1,000 metric tons, while qualified Chinese enterprises will be allowed to participate in trading. AASTOCKS Financial News Website: www.aastocks.com |
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