The Shanghai Gold Exchange is expanding to Hong Kong with a new vault operated by a Bank of China subsidiary. The People’s Bank of China supports this move to promote yuan-denominated benchmarks and increase China’s influence over commodity pricing.
This expansion coincides with record gold prices driven by safe-haven demand amid trade tensions. China, the world’s largest gold consumer, has seen unprecedented trading volumes with heavy retail participation.
Established in 2002, the Shanghai Gold Exchange is China’s primary physical gold trading platform. The Hong Kong vault will serve international clients for bullion trading and storage, strengthening Hong Kong’s position in global commodity markets.