Li Jiachao: Hong Kong and Shanghai will launch gold clearing and interconnection in the first quarter of next year

The Zhitong Finance App learned that the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, continued his visit to Shanghai today (November 6) to meet with Shanghai Mayor Zhu Zhongming to exchange views. Li Jiachao said that Hong Kong Precious Metals Central Clearing System Co., Ltd. and the Shanghai Gold Exchange have launched the first phase of physical connectivity this year, and the Hong Kong Gold Central Clearing and Settlement System will be officially launched in the first quarter of next year. The two places will continue to promote the interconnection of the gold market to achieve mutual benefit and win-win situation.

He mentioned that the Hong Kong Special Administrative Region Government is actively promoting the construction of “four centers, one highland”, which is highly compatible with Shanghai's “five centers” construction direction, further complementing the advantages of “dual engines.” Hong Kong will continue to deepen the work of mainland enterprises going overseas, and provide comprehensive support for more mainland enterprises, including Shanghai, to expand their markets.

Li Jiachao said that Shanghai and Hong Kong have always cooperated closely. This year, more than 400 Hong Kong companies participated in the 9th CIIE, the highest number ever, and the Hongqiao International Economic Forum Hong Kong Sub-Forum was successfully held to thoroughly discuss new opportunities for Hong Kong during the “15th Five-Year Plan” period. He expects the two places to continue to deepen cooperation.