Hong Kong has accelerated efforts this year to strengthen its position as an international gold trading centre. From cooperation on gold resources to the trial operation of a central clearing and settlement system, and the development of next-generation trading technology, the city is gradually strengthening the infrastructure that connects gold resources with trading, clearing and physical delivery.

In July, Hong Kong and Laos signed a memorandum of understanding on gold market cooperation. The agreement includes facilitating eligible Lao gold holders’ access to Hong Kong’s accredited gold refining network, while encouraging internationally compliant refined gold bars to be traded and delivered in Hong Kong. Hong Kong has also put forward the goal of jointly developing a “Gold Corridor” with Laos.

In the same month, the Hong Kong Gold Central Clearing and Settlement System began trial operations, providing clearing and settlement services for bilateral and over-the-counter gold transactions. The move further strengthens an essential layer of market infrastructure supporting gold trading.

In August, the Hong Kong Gold Exchange announced the establishment of HKGXTS, marking another step towards the development of a next-generation gold trading technology and clearing platform. Under the current plan, HKGXTS is expected to begin trial operations in the first quarter of 2027, with its initial phase integrating HKGX’s existing products, trading, settlement, clearing and related services.

The central clearing and settlement system and the next-generation trading technology platform address two fundamental layers of the gold market: clearing and settlement infrastructure on one side, and trading infrastructure on the other. Their parallel development points to a broader evolution of Hong Kong’s gold market, extending from resources and trading to clearing, physical delivery and financial technology.

Infrastructure upgrades ultimately need to be supported by market participants. As an AA Class 084 Member of the Hong Kong Gold Exchange, a core member of Gold Group, and an accredited delivery bar refiner and manufacturer recognised by the Hong Kong Gold Exchange, Upway Global sits at the forefront of this market development.

If the online trading channels provided by an AA Class member represent the gateway to the market, its accredited delivery bar refining and manufacturing capabilities connect directly with the physical gold side of the market. One side connects to the trading market, while the other links to physical delivery. In this sense, Upway Global’s business capabilities correspond closely with the trading and delivery infrastructure being developed across Hong Kong’s gold market.

An international gold hub also requires sustained market participation and trading activity. Upway Global provides precious metals services to clients across different regions and trading time zones worldwide. Its global client network and underlying trading demand help connect Hong Kong’s gold market with a broader pool of international investment demand.

From the development of gold corridors and central clearing to the upgrading of trading technology, Hong Kong is gradually addressing the long-standing imbalance between “consumption in the East and pricing in the West”. The city is seeking to play a more significant role in gold pricing, cross-border gold flows and the internationalisation of the renminbi.

The Gold Corridor expands the resource channel, while central clearing and trading technology strengthen the market infrastructure. As Hong Kong continues to connect these elements, Upway Global is positioned on the market-facing side of that ecosystem, linking trading services with physical gold.