HKSAR, Laos sign MoU on gold market cooperation

(ECNS) -- Hong Kong Special Administrative Region (HKSAR) and Laos signed a memorandum of understanding (MoU) in Vientiane on Monday to strengthen cooperation in gold markets and financial services. 

The agreement was signed by Hong Kong Secretary for Financial Services and the Treasury Christopher Hui and Lao Deputy Prime Minister and Minister of Finance Santiphab Phomvihane.

The agreement will help qualified Lao gold owners access Hong Kong’s accredited refining network and promote the trading and delivery of refined gold bars meeting international standards. It also covers professional training and fintech cooperation, including tokenization.

Hong Kong’s central gold clearing and settlement system began trial operations earlier this month. Hui said the agreement would help develop an efficient and trusted gold corridor benefiting producers, refiners, traders and investors in both economies.

(By Intern Yang Hongran, Zhang Dongfang)