According to the Zhitong Finance APP, on December 18, the Hong Kong SAR Government announced the official establishment of a working group to promote the development of the Gold market. The working group was established by the Hong Kong Financial Services and the Treasury Bureau to comprehensively review various areas related to Gold Financial Trade, implement the establishment of an international Gold trading center, and formulate plans for optimizing market trades and regulatory mechanisms as well as for domestic and foreign promotion. The working group is chaired by the Secretary for Financial Services and the Treasury of Hong Kong, with members including relevant government officials, representatives from regulatory agencies, Financial Institutions, Exchanges, and industry professionals. The working group will also invite other industry professionals to participate in discussions based on specific topics.

Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, stated: "Building an international Gold trading center is a new entry point to consolidate and enhance Hong Kong's position as an international financial center. The Chief Executive of the Hong Kong SAR indicated in this year's Policy Address the intention to attract international Gold spot to be stored in Hong Kong, promoting Gold Trade, clearing, and settlement, which can further develop Hong Kong into a Gold trading center. The Hong Kong SAR Government will promote the construction of international-grade Gold storage facilities, and on the basis of increasing storage, expand related Financial Business such as Insurance, testing and certification, Logistics, while simultaneously expanding related derivative trades such as collateral, borrowing, and hedging to gradually build a complete ecosystem. This will promote an all-encompassing, multi-currency trading, clearing, settlement, and regulatory system, forming a complete Gold trading center and exploring connectivity with the CSI China Mainland Financials Index at the right time."

Christopher Hui continued: "The working group brings together industry leaders and professionals, as well as representatives from Financial Regulatory Institutions and market participants, and will hold its first meeting within this month. I look forward to working closely with members, engaging in active discussions, and collaboratively formulating a comprehensive implementation plan for the development of the Hong Kong Gold market."