Hong Kong Pushes for 2,000 Tonnes of Gold Capacity Alongside New Stablecoin Licensing

Chief Executive of Hong Kong John Lee addressed the 19th Asian Financial Forum, highlighting the city’s financial and business developments.

He outlined measures to maintain and enhance Hong Kong’s role as an international financial hub.

Lee highlighted three main areas of focus.

First, reinforcing Hong Kong’s strengths. This includes deepening the equity and bond markets, advancing asset and wealth management, and expanding cross-boundary Renminbi initiatives.

Measures include the Technology Enterprises Channel for fundraising, optimisation of Main Board listing rules, and proposals to enable electronic securities trading and shorten settlement cycles.

Second, developing new growth areas. Plans include establishing Hong Kong as a regional hub for gold and commodities trading.

Hong Kong plans to expand gold storage capacity to over 2,000 tonnes within three years. The city also intends to establish a central clearing system.

Fintech and digital asset initiatives include licensing frameworks for stablecoins and proposed rules for digital asset service providers. They also cover expanded virtual asset trading products and the promotion of AI applications.

Hong Kong is advancing carbon markets and sustainable finance. The city has over 200 ESG funds and government green bonds totalling US$32 billion.

Third, international co-operation remains a priority. The company re-domiciliation regime has attracted 14 non-local corporations.

Measures are also being introduced to encourage Mainland enterprises to establish Corporate Treasury Centres.

Lee highlighted Hong Kong’s recent economic performance.

There are 11,070 foreign- and Mainland-affiliated companies, over 5,200 start-ups, and leading global positions in IPOs, offshore Renminbi business, and green finance.

These initiatives aim to ensure Hong Kong remains open, transparent, and stable, supporting long-term financial and economic growth.

Featured image credit: GovHK

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