First Gold Launches the "Shenzhen-Hong Kong Gold Connect" with Mrs. Carrie Lam, the Chief Executive of HKSAR, at Invitation, and Becomes the First 900kg Qianhai Gold Trader
Hong Kong Convention and Exhibition Centre, Wanchai
On 3 November 2017, the "Shenzhen-Hong Kong Gold
Connect" was officially launched, marking another major historical
milestone in the Hong Kong's bullion market. That evening, Mrs. Carrie Lam, the
Chief Executive of HKSAR, was invited to be the officiating guest and witnessed
the first 900kg "Qianhai gold" trading in the "Shenzhen-Hong
Kong Gold Connect". First Gold broke a historical record together by
successfully trading golds with a value of nearly RMB 30 million! First Gold
representative was invited to perform the launch ceremony with the Chief
Executive. Other guests who attended the event included Mr. James Henry Lau Jr,
the Secretary for Financial Services and the Treasury, Dr. Haywood Cheung, the
President of the Chinese Gold & Silver Exchange Society (CGSE), Ms. Lin Jie,
Shenzhen Municipal Standing Committee and Minister of United Front Work
Department, and Ms. Jin Ping, the Deputy Director-General of Commercial Office
of Economic Affairs Department of the Liaison Office of the Central People's
Government in the HKSAR. The launch ceremony was star-studded with the line-up
of famous guests, making a grand occasion.
After
successfully introducing the "Shanghai-Hong Kong Gold Connect” in 2015,
the "Shenzhen-Hong Kong Gold Connect" launched in 2017, as the second
cross-border inter-connected platform for Hong Kong and the Mainland, will
perfect the entire ecosystem of gold trading, enabling golds and funds to be channeled
between North and South. First Gold representative said, "By linking the
overseas and the Mainland markets, the 'Shenzhen-Hong Kong Gold Connect', the
gold price in the Mainland can become internationally recognized. It also helps
China reach the global stage, effectively enhances China's right of gold
pricing and right of discourse, as well as provides advantages to enhance the
global competitiveness and influence of China's gold market. Therefore, the
launch of 'Shenzhen-Hong Kong Gold Connect' is of great significance!" He
added, "It is believed that the 'Shenzhen-Hong Kong Gold Connect' allows
more mainland investors to take part in trading models with international
standards, and it also satisfies the demands of investors in both Hong Kong and
Shenzhen."
Dr. Haywood
Cheung indicated that, "While 70 Hong Kong bullion traders will be participating
in the 'Shenzhen-Hong Kong Gold Connect', which is far more than that in the
'Shanghai-Hong Kong Gold Connect' with 30 traders, it is expected that the
daily trading amount will reach ten billion dollars." The connection will
be well received by the market. Mrs.
Carrie Lam indicated that, "By leveraging the advantage of Hong Kong being
the global offshore RMB business hub, the 'Shenzhen-Hong Kong Gold Connect'
produces a synergistic effect with the Qianhai warehouse, enhancing the
competitiveness of the gold market chain in the region as well as facilitating
the development in Hong Kong." First Gold hopes that the 'Shenzhen-Hong
Kong Gold Connect' will include more international gold traders, benefit more peripheral
businesses and fully develop within industry.