Hong Kong Gold Central Clearing and Settlement System begins trial operation, launches first phase of “Physical Connectivity” in collaboration with Shanghai Gold Exchange

```htmlAccording to Golden Ten Data on July 7, Hong Kong's central gold clearing and settlement system has officially started trial operations. It is reported that the Hong Kong Financial Services and the Treasury Bureau and the Shanghai Gold Exchange, based on the cooperation agreement signed this January, have launched the first phase of "physical connectivity." The Hong Kong Gold Settlement Company has applied to become an international member of the Shanghai Gold Exchange and has opened a physical gold account. Market participants can choose to deposit their physical gold holdings into the designated warehousing facility of the international board of the Shanghai Gold Exchange in Hong Kong through this account. Through two-way transfers, market participants can participate in both the on-floor market of the Shanghai Gold Exchange and the over-the-counter market in Hong Kong, facilitating the flow of physical gold between the Hong Kong Gold Settlement Company's system and the Shanghai Gold Exchange system, and effectively connecting the gold markets of Hong Kong and Shanghai.```