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Home > About > Upway Global Invited to Attend the Signing Ceremony of the HKEX and CGSE

Upway Global Invited to Attend the Signing Ceremony of the HKEX and CGSE

2017-06-29 18:16:38 | 浏览 7571

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On June 29, 2017, Hong Kong Exchanges and Clearing Limited (HKEX) and the Chinese Gold and Silver Exchange Society (CGSE) signed a Memorandum of Understanding (MOU). The signing ceremony was held at the HKEX. Mr. Roger Hiu, Managing Director of Market Development at HKEX, and Mr. Brian Fung, CEO of the CGSE, both attended. Upway Global, as a CGSE AA category member, was honored to be invited to attend and witnessed the signing of the "Memorandum of Understanding."


HKEX was scheduled to launch physically settled gold futures products denominated in offshore RMB and USD on July 10, 2017, with the CGSE cooperating on physical supply and demand and Qianhai bonded warehouse services. It is understood that both parties maintained close contact, and the signing ceremony held today, prior to the official launch of the products, indicates a powerful alliance between the two entities.

As Hong Kongs sole exchange for physical gold trading, the CGSE will actively cooperate with the development of HKEXs new products, marking a collaboration between the two parties.

In addition, Mr. K.C. Chan, then Secretary for Financial Services and the Treasury of the HKSAR Government; Mr. Charles Li Xiaojia, Chief Executive of HKEX Group; Mr. Haywood Cheung, CGSE Chairman; and several other high-level executives from both HKEX and the CGSE attended and participated in the signing ceremony, indicating a powerful lineup. Upway Globals representative was also present among the attendees, witnessing the development of precious metals.


At the ceremony, Mr. Charles Li, Chief Executive of HKEX Group, delivered a speech. He believed that the launch of products denominated in USD and RMB would provide investors with more investment opportunities and further consolidate Hong Kongs position as an offshore RMB center.


Simultaneously, Mr. Haywood Cheung, CGSE Chairman, also shared his views, believing that the first cooperation between the futures exchange and the spot trading exchange marked a breakthrough for Hong Kongs century-old gold industry. The signing of the "Memorandum of Understanding" by the two institutions broadened Hong Kongs investment channels and created a new trend of complementary cooperation, mutual benefit, and joint expansion of the gold market.


As the Asian regions economy develops faster and faster, more investors are participating in the gold market, which indicates that golds influence in the Asian investment market is gradually strengthening. As a member of the CGSE, Upway Global will actively strengthen the integration of the gold markets within the Asia-Pacific region and promote the development of the gold market.

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