Hong Kong's Financial Services and the Treasury Bureau announced that the Hong Kong Precious Metals Central Clearing Company Limited (PMCC), a wholly government-owned entity, has held its first Board of Directors’ meeting as it begins work to establish a central clearing system for gold in Hong Kong. The Board, chaired by the Secretary for Financial Services and the Treasury, is tasked with overseeing the establishment of the clearing system, monitoring its operation and providing strategic direction. Membership includes representatives from the Shanghai Gold Exchange, regulatory bodies and 11 banks: Agricultural Bank of China Limited Hong Kong Branch, Australia and New Zealand Banking Group Limited, Bank of China (Hong Kong) Limited, Bank of Communications (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, Citi Hong Kong, Industrial and Commercial Bank of China (Asia) Limited, JP Morgan, Standard Chartered Bank (Hong Kong) Limited, Hongkong and Shanghai Banking Corporation, and UBS AG. Preparatory work will continue with a target to commence trial operations of the gold central clearing system within 2026.
Financial Services and the Treasury Bureau (Hong Kong) 2026-04-22
Hong Kong's Financial Services and the Treasury Bureau convenes the first board meeting of the Precious Metals Central Clearing Company and targets gold clearing trial operations in 2026
The Financial Services and the Treasury Bureau announced that the Hong Kong Precious Metals Central Clearing Company Limited, a wholly government-owned entity, has held its first Board meeting as it begins work to establish a central clearing system for gold in Hong Kong. The Board, chaired by the Secretary for Financial Services and the Treasury and comprising representatives from the Shanghai Gold Exchange, regulatory bodies and 11 banks, will oversee system establishment, operations and strategic direction, with trial operations targeted to commence in 2026.