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Gold futures on cards for HK
By Hui Ching-hoo (China Daily)
Updated: 2007-01-24 10:40 The CGSE plans to launch an electronic trading platform, which is scheduled to open in the second half of the year. "The platform incorporates round-the-clock online trading in futures and spot markets, and investors will be able to get access to the mainland and foreign exchanges," he said. He revealed that the CGSE is in talks with the Shanghai Gold Exchange (SGE) to study the availability of cross-regional trading. "It depends on the opening of yuan convertibility." But Ling said the CGSE was likely to get the SGE approval because "there are just some technical issues left for the two exchanges to discuss". The Hong Kong Special Administrative Region government has not laid down a concrete timeframe for the launch of a gold futures exchange. Lee said the CGSE had previously spoken to Frederick Ma, secretary for financial services and the treasury of the Hong Kong government. "He did not give any affirmative response, but we feel the government supports the idea." (For more biz stories, please visit Industries)
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