On July 7, John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced at the "Hong Kong Fixed Income and Currency Summit & Bond Connect Forum" that the Hong Kong gold central clearing system officially commenced trial operations on the same day. Reporters learned from Bank of Communications (BOCOM) that on the inaugural day of the trial, BOCOM’s head office and its Hong Kong subsidiary successfully executed gold trading settlements totaling 76,000 ounces, equivalent to approximately USD 315 million, with multiple financial institutions through the new system. The range of transactions included spot, forward, and swap deals, with settlement currencies spanning offshore RMB, HKD, USD, EUR, and others. As a key market maker and pricing bank in China’s domestic gold market, BOCOM has consistently championed the integration of the Shanghai and Hong Kong gold markets. By being among the first to participate in Hong Kong’s gold trading and clearing operations, BOCOM reaffirms its commitment to advancing Shanghai’s development as an international financial hub and Hong Kong’s role as a premier global gold trading center.