Hong Kong is set to launch a new gold-clearing system by July 2026 to streamline precious metals trading in the region [1, 2, 3]. The government-owned system will allow participants to settle trades through unallocated (non-allocated) accounts, enabling faster and larger scale transactions which improve market liquidity [1, 2, 3].
The clearing system is modeled after London’s financial infrastructure for bullion trading, where most precious metals trades are settled using unallocated accounts [1, 2, 3]. The new platform is operated by Hong Kong Precious Metals Clearing Limited (港金结算公司), established in January 2026 to oversee the system’s operations [2].
The board of Hong Kong Precious Metals Clearing Limited held its first meeting in May 2026 and comprises 11 banks, including 5 Chinese banks, 4 foreign banks, and 2 Hong Kong banks [2]. Hong Kong has also signed a cooperation agreement with the Shanghai Gold Exchange and invited several China-friendly central banks to participate in the clearing system [2, 3].
The Hong Kong Financial Services and the Treasury Bureau stated the government is accelerating the development of an international gold trading market in the city. The bureau said preparations for the clearing system “have entered the final stages” and that trial operations are planned within 2026, with a pilot expected before the end of the year [2, 3].
In addition to the clearing system, Hong Kong aims to expand its gold storage capacity to 2,000 tons within three years, reflecting a broader push to increase the city’s profile in precious metals markets [2, 3].
The official said, “The government is speeding up establishing an international gold trading market in Hong Kong, including building a gold central clearing system that provides efficient and trusted clearing services for internationally standard gold trading” [2].
Hong Kong Precious Metals Clearing Limited was established in January 2026, held its board meeting in May, and targets system launch by July 2026. Trial runs are slated before year-end, while storage expansion continues through 2029 [1, 2, 3].
