Starting from January 1, 2025, the Hong Kong Special Administrative Region of China will welcome a new trading institution - the Hong Kong Gold Exchange. This exchange was renamed and restructured from the Gold Exchange, which has been operating locally for 114 years, marking a new stage of development for the Hong Kong gold trading market. It is also seen as a key measure for Hong Kong to consolidate its position as an international financial center and build an international gold trading center< The Hong Kong Gold Exchange was established in 1910, originally named 'Gold and Silver Industry', and was renamed after World War I. It is the third largest gold trading market in the world, after the New York gold market and the London gold market. The renaming and establishment process took at least two years of preparation and was approved by multiple government departments in the special administrative region. On December 20th, the institution officially announced the results of the board election, and 25 board members and supervisors will be transferred to the new exchange. The chairman of the board will serve as the new chairman of the exchange The newly established Hong Kong Gold Exchange will not only inherit its existing business, but also carry out a series of innovative actions. In terms of business expansion, in addition to continuing to buy and sell physical products such as gold and silver, we will also gather various forces such as traders and gold minters to discuss brand certification and standards. We plan to launch the 'GoldZip' digital gold and list it on virtual asset exchanges that already have a license from the China Securities Regulatory Commission. At the same time, we will attract more international agents to join through measures such as capital increase. The new system of the limited company will provide convenience for international members to join, which will help enhance the internationalization level of the Hong Kong gold market To accelerate the construction of an international gold trading center, the Hong Kong SAR government has taken frequent actions. On December 18th, the Financial Services and Treasury Bureau of the Special Administrative Region Government established the 'Working Group for Promoting the Development of the Gold Market' to comprehensively examine various aspects related to gold financial transactions, including the implementation of the establishment of an international gold trading center, as well as the formulation of plans to optimize market trading and regulatory mechanisms, domestic and international promotion, etc. The newly elected chairman and two vice chairmen of the Hong Kong Gold Exchange have been invited to become members of the working group, which will lay a solid foundation for the exchange to collaborate with government departments and other relevant institutions In terms of improving gold storage facilities, the Hong Kong Special Administrative Region Airport Authority is planning to increase the scale of gold storage located near the airport. Meanwhile, relevant personnel from the Hong Kong Gold Exchange pointed out that Hong Kong still needs to establish a gold warehouse recognized by international financial institutions and of considerable scale outside the airport, such as the Hetao area, to meet the needs of the international gold trading center. In addition, Hong Kong is also planning to explore timely connectivity with relevant financial markets in the mainland of China, actively promote the 'Gold Commodity Connect', learn from the experience of the Stock Connect and Bond Connect, and further expand the development space of the gold market The newly appointed chairman of the Hong Kong Gold Exchange, Zhang Dexi, stated that the establishment of the gold exchange is in line with the SAR government's goal of enhancing Hong Kong as an international gold trading center, and will focus on improving transparency and corporate governance in the future. CEO Feng Weineng stated that the industry expects to build new warehouses in the northern metropolitan area of Hong Kong to meet the storage requirements for precious metals and other basic metals, leaving physical gold in Hong Kong and driving the development of derivative products and related industries such as shipping, logistics, and insurance The establishment of the Hong Kong Gold Exchange, with its profound historical background and innovative development plan, is expected to play a more important role in the global gold market, help Hong Kong shine in the field of international gold trade, further consolidate Hong Kong's position as an international financial center, and inject new impetus into the sustained prosperity of the Hong Kong economy