Hong Kong is studying tax incentives for qualified institutions engaged in gold trading and settlement in the city, according to Christopher Hui, secretary for financial services and the treasury. Speaking at the opening ceremony of Gold Smart International’s Hong Kong headquarters, Hui said the government is also refining the preferential tax regime for funds and single-family offices, with a proposal to expand the scope of eligible investments to include precious metals. He said the city is using the development of an international gold trading market as an entry point to build a broader commodities trading ecosystem. Hui added that Hong Kong’s central gold clearing and settlement system began trial operations in July this year and is targeted for formal launch in the first quarter of next year. After the Mandatory Provident Fund Schemes Authority updated its guidance in July, the number of gold ETFs eligible for MPF fund investment rose to five. Physical gold ETFs and tokenized gold products have also been introduced to the market, according to a Hong Kong government press release.
Hong Kong is studying tax incentives for qualified institutions that conduct gold trading and settlement in the city, Secretary for Financial Services and the Treasury Christopher Hui said at the opening ceremony of Gold Smart International’s Hong Kong headquarters.
Hui said the government is also refining the preferential tax regime for funds and single-family offices, and has proposed expanding the scope of eligible investments to cover precious metals.
He said Hong Kong is using the development of an international gold trading market as a starting point to build a commodities trading ecosystem. The city’s central gold clearing and settlement system entered trial operation in July this year, with a formal launch targeted for the first quarter of next year.
Hui also said that after the Mandatory Provident Fund Schemes Authority updated its guidance in July, the number of gold exchange-traded funds eligible for MPF fund investment increased to five. Physical gold ETFs and tokenized gold products have also been launched in the market.
The information was cited from a Hong Kong government press release.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
