Hong KongSwiss refiner Valcambi will refine gold in the city.
The city previously shipped gold to the mainland for refining before re-exporting it.
China’s central bank raised its gold holdings for a 23rd straight month in September, to 2,400 tonnes.
Gold stood at $4,038 an ounce on 22 October, down 3.4% in a week.
How each outlet framed it
- South China Morning Post leans favorable
- frames the refinery deals as completing a gold ecosystem that ends Hong Kong's reliance on mainland refineries
Sources: South China Morning Post