‘Hong Kong speed’: treasury chief details city’s gold and yuan ambitions

Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui says the city is moving at “Hong Kong speed” to build a comprehensive gold and commodities ecosystem. Following his presentation at the LBMA Global Precious Metals Conference in Sorrento, Italy, Hui sat down with the SCMP to discuss how the city’s new government-backed gold clearing system will set itself apart from London. He also shared his insights on the internationalisation of the renminbi, explaining how the currency’s lower interest rates and growing retail e-CNY adoption are helping the city serve the real economy across Asia.