Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, traveled to Ticino, Switzerland on October 7 (Ticino time) for a visit after attending the Global Precious Metals Conference in Sorrento, Italy.
During the trip, he inspected three of the world's top gold refineries — MKS PAMP, Heraeus Group, and Valcambi SA — as part of efforts to attract high-end precious metals industry chain operations and high-standard gold refining facilities to establish a presence in Hong Kong and expand their business there. Hong Kong Precious Metals Central Clearing System Limited Chief Executive Officer Chan Ping-keung also accompanied him on the visit.
In the morning, Hui first visited the MKS PAMP refinery, where he met with group CEO Marwan Shakarchi, Chief Executive James Emmett, and other senior executives, and toured the refinery's storage facilities and metal analysis laboratory. MKS PAMP opened its third regional headquarters in Hong Kong last year, leveraging the city to expand its Asia-Pacific operations. During the meeting, both sides held in-depth discussions on making full use of Hong Kong as a trading platform and on plans to further expand regional and mainland gold business.
Hui and his delegation then moved on to tour the Heraeus Group refinery, gaining first-hand insight into its latest developments in applying artificial intelligence, blockchain, and various analytical technologies to precious metals supply chain traceability and precision casting. Heraeus has long been a cornerstone of Hong Kong's precious metals refining ecosystem, with its trading office and refining plant having been established in Hong Kong for decades. In his meeting with Chief Executive Officer Dr. Robin Kolvenbach, Hui said that Hong Kong has a series of precise supporting measures to promote the development of a modernized, full-chain gold trading ecosystem, and coupled with the enormous land supply and development potential brought by the Northern Metropolis project, now is the best time for the group to consider expanding its Hong Kong operations and bringing its advanced refining technology to the city.
Before concluding his Swiss visit, Hui visited the Valcambi SA refinery, meeting with Chief Executive Officer Simone Knobloch and a group of senior management. During the meeting, Valcambi SA revealed that it is in discussions with Shiu Wing Steel, Hong Kong's only steel rolling mill, about cooperating to build gold refining and storage facilities in Hong Kong.
Hui said: Hong Kong is fully committed to developing a comprehensive gold trading ecosystem that integrates gold trading, clearing and settlement, storage, refining, and risk management in one place. Refining is a vital component of building this ecosystem, and with multiple top Swiss refiners now participating or planning to participate in Hong Kong's gold business, it gives us a tremendous boost in gaining international recognition and raising industry standards. The government will seize the current strong momentum in gold market development and continue to actively study different policy support measures to attract more international precious metals companies to start operations and set up Asia-Pacific headquarters in Hong Kong.
Hui has concluded his visit to Switzerland and will return to Hong Kong tonight (October 8).