Financial Secretary Paul Chan has said developing commodity trading in Hong Kong can serve the country and create jobs.

He made the remarks as the country's 15th Five‑Year Plan states that it supports Hong Kong in building a commodity trading ecosystem.

The government has started this work with gold trading, aiming to raise Hong Kong's gold storage capacity to over 2,000 tonnes within three years, and encourage gold traders to set up or expand refineries in the SAR.

In an interview with RTHK's "Vision 15: Hong Kong's Chapter", Chan said commodity trading will support national interests.

"Developing commodity trading enriches Hong Kong's role as an international financial centre and also serves the country's broader interests. Our country is one of the biggest users of gold. And beyond that, there are many other precious metals and rare metals – including those needed for electric vehicles – where we are also a major user," he said.

The government is also rolling out other supporting measures for the gold trading hub, including launching a new gold price benchmark.

Chan said the benchmark could give Hong Kong a stronger voice and influence in gold pricing.

He added that developing a commodity trading ecosystem in Hong Kong will drive demand for storage and related professional services, which will help create jobs.


Edited by Aaron Tam