Writing in his weekly blog on Sunday, Hong Kong Financial Secretary Paul Chan Mo-po said the special administrative region government is stepping up efforts to become an international gold trading hub, and is reviewing related areas, including support for physical gold delivery, with plans to be unveiled later this year.

As the city is making progress in building a commodity trading ecosystem, Chan underscored Hong Kong’s advances in the nonferrous metals market.

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Earlier this year, the SAR became a part of the London Metal Exchange’s global warehouse network, an achievement he described as a “significant milestone” that has brought China closer to the world’s most active metals trading markets.

Eight LME-approved warehouses in Hong Kong have been operational since January, with more than 8,000 metric tons of exchange-registered warrants available to facilitate LME contract delivery as of early August, according to Chan.

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Beyond ensuring a stable regional metal supply, the move could also strengthen Hong Kong’s shipping industry and support the growth of related services, such as trade finance, insurance and risk management, hedging and derivatives, he added.

The development in commodity trading is an example of Hong Kong’s efforts to harness the opportunities arising from the technological revolution and a shifting global trading landscape to drive its economic transformation and upgrading in order to foster new growth engines, Chan said.

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He added that geopolitical uncertainties and recent tariff tensions have reshaped international trade and supply chains, opening up new development opportunities in a variety of sectors, including shipping, finance, and professional services.

Meanwhile, with more Chinese mainland enterprises expanding overseas through the deployment of industrial and supply chains across regions involved in the Global South and the Belt and Road Initiative, Hong Kong has been actively promoting its role as a multinational supply chain management center, Chan said.

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The SAR’s strengths, such as its international capital pool, comprehensive financial services, and efficient logistics connectivity via its world-class airport and ports, make it an attractive and preferred platform for mainland businesses to establish offshore treasury centers and cross-border supply chain management operations.

Chan also highlighted Hong Kong’s robust export sector performance, which has seen double-digit year-on-year growth in recent months. In the first half of 2025, goods exports from the SAR to Vietnam and Malaysia surged by more than 50 percent and 30 percent respectively.

“Hong Kong’s roles and advantages as a superconnector and super value-adder are becoming increasingly evident,” Chan said.

“As long as we continue to open up new business areas and create fresh growth drivers, while giving full play to our strengths and serving the country’s needs, we will certainly pave a broader path for the sustainable development of Hong Kong’s economy.”

Contact the writer at gabylin@chinadailyhk.com