Hong Kong's Financial Services and the Treasury Bureau has signed a memorandum of understanding with the Ministry of Finance of Laos to strengthen bilateral cooperation on gold market development and financial services. The agreement is aimed at creating closer cross-border linkages in the gold market, including by facilitating access for qualified Lao gold owners to Hong Kong's accredited refining network, encouraging the use in Hong Kong of refined gold bars that meet international standards for trading and delivery, and supporting talent development and fintech cooperation such as tokenization solutions. The signing took place during Financial Secretary Christopher Hui's visit to Vientiane and was accompanied by a separate market-level memorandum on gold market development between Lao Bullion Bank and precious metals trader and refiner MKS PAMP, which has its third regional headquarters in Hong Kong. Hui linked the Laos arrangement to Hong Kong's broader push to build out its gold market infrastructure, referring to the trial operation earlier this month of Hong Kong's new central gold clearing and settlement system and recently announced measures to support gold market development. During meetings in Laos, he also promoted Hong Kong as a venue for Lao companies seeking capital raising and for Lao banks seeking Renminbi trade settlement and other RMB-related financial transactions.

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