Hong Kong steps up bid to become global gold trading hub with Shanghai agreement

Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the finance chief has said will bolster the city’s push to become an international trading hub for the precious metal. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a memorandum of understanding at the 19th Asian Financial Forum next week to pave the way for greater connectivity between the two markets. “We are...