Chen Maobo: Gold is an important part of the financial ecosystem The Hong Kong Monetary Authority is studying increasing gold holdings

The Zhitong Finance App learned that Hong Kong's Financial Secretary Chan Mao-po said that the Hong Kong Monetary Authority's Exchange Fund has two responsibilities. One is to maintain Hong Kong's financial stability and protect the Hong Kong dollar, and the other is to promote Hong Kong's development as an international financial center. Gold is a very important part of the financial ecosystem, so the Hong Kong Monetary Authority is studying increasing its gold holdings after considering all factors. As for the exact amount of holdings, Chen Maobo said that not many details can be revealed at this time.

Regarding the Policy Address, the Hong Kong Monetary Authority is studying a moderate increase in the Exchange Fund's gold holdings and participation in the Hong Kong spot and futures market, and gradually transferring existing gold stocks to warehouses designated for HKD Settlement.

Hong Kong's first five-year plan proposes that the government will take the lead in studying and promoting the payment of government expenses in RMB in more suitable scenarios. Chen Maobo said that RMB, like other currencies, fluctuates, and when issuing renminbi-denominated bonds, the government will also consider hedging issues, because sometimes after considering costs, interest, and hedging, it is better than using US dollars to issue bonds.