Hong Kong Finance Chief Courts Swiss Gold Refiners to Boost Precious Metals Hub

Financial Secretary Christopher Hui (許正宇) wrapped up a European tour on Thursday, having visited three of Switzerland's largest gold refineries to promote Hong Kong as a premium precious metals hub. The visit, which followed his attendance at a global precious metals conference in Sorrento, Italy, took him to MKS PAMP, the Heraeus Group, and Valcambi SA—all based in the canton of Ticino 123. At MKS PAMP, Hui met with senior executives and toured the refinery's storage facilities and metal analysis laboratory. The Swiss refiner already operates its third regional headquarters in Hong Kong, established last year to capitalize on the city's strategic position for Asia-Pacific expansion 23. At Heraeus Group's refinery, Hui observed how artificial intelligence and blockchain technologies are being deployed for supply chain traceability and precision casting in the precious metals sector. Heraeus has maintained trading offices and refining facilities in Hong Kong for decades, making it a longstanding pillar of the local precious metals ecosystem 23. During his visit to Valcambi SA, the company disclosed that it is in discussions with Shiu Wing Steel—Hong Kong's only steel mill—to explore building gold refining and storage facilities in the city 123. Hui emphasized that Hong Kong is building a fully functional gold trading ecosystem encompassing trading, clearing and settlement, storage, refining, and risk management, with refining viewed as an indispensable component 123.

The initiative positions Hong Kong to compete more effectively for a larger share of global gold trade, building on its existing strengths in finance and logistics. A local refining capability would add a critical missing link to Hong Kong's gold ecosystem, potentially attracting more trading volume and establishing regional price benchmarks 123.