HKEX and Shanghai Gold Exchange sign MOU

HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) and Shanghai Gold Exchange (SGE) have signed a non-binding MoU to consider potential areas of mutual interest, including joint development of precious metals products and cross-market connectivity.

"This is another important step in the development of HKEX Group’s commodities business," said HKEX Chief Executive, Charles Li. 

SGE Chairman, Jiao Jinpu, said the SGE was committed to innovation and the opening-up of China's gold market, to better serve the gold industry and promote internationalisation of the renminbi.

"The signing of our MOU with HKEX represents a start for our future co-operation,” he said.  “We look forward to working closely with HKEX to develop more diversified investment products and to see how we can facilitate ties between our markets." www.hkex.com.hk (ATI).