Shanghai, HK plan 'Gold Connect'

Shanghai and Hong Kong are planning to launch a "Gold Connect" as early as March next year, according to the president of Hong Kong's gold exchange society.

"The earliest we expect to launch 'the Shanghai-Hong Kong Gold Connect' is March or April next year. At present, both sides have already completed the discussions on details and are mainly undertaking software testing," said Haywood Cheung, president of the Chinese Gold & Silver Exchange Society, according to 21st Century Business Herald.

Coming on the back of the recently launched stock connect, this most recent link-up between Shanghai and Hong Kong will allow investors to conduct cross-border trading of gold products.

The "Gold Connect" comes after CGSES, made up of 171 member companies, signed an agreement to become a strategic member of the Shanghai gold exchange on Sep 19, said Cheung.

The agreement set goals of working towards internationalization of the exchanges, and the development and liberalization of China's gold exchange.