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China opens first offshore gold vault in Hong Kong
By Yihui Xie and Sybilla Gross
Bloomberg News
Thursday, June 26, 2025
The Shanghai Gold Exchange has expanded outside mainland China for the first time, with the rollout of two new contracts and a bullion vault in Hong Kong.
The launch serves a number of purposes, from broadening the Shanghai bourse's international reach, to strengthening China's clout in commodity and currency markets and Hong Kong's status as a financial center.
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Trading will be conducted in yuan and settled by cash or physical delivery, including to the new vault operated by Bank of China Ltd.'s Hong Kong unit, the SGE said in a statement.
The two contracts covering different purity levels will debut today. To attract traders, the exchange said it will waive fees at the vault through the end of the year. ...
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https://finance.yahoo.com/news/china-opens-first-offshore-gold-023817046.html
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