Xu Zhengyu meets with the Lao Minister of Finance to discuss cooperation in the gold market and other areas

The Secretary for Financial Services and the Treasury, Xu Zhengyu, met today (11th) with a delegation led by the Minister of Finance of Laos, Santiphab. Both sides discussed cooperation in the gold market and the upcoming negotiations for a comprehensive double taxation avoidance agreement. The Deputy Secretary for Financial Services and the Treasury, Chen Haolian, also attended the meeting.

Xu Zhengyu stated that Hong Kong has been actively consolidating its financial system advantages in recent years, achieving greater financial diversification by expanding the financial value chain. Hong Kong is fully leveraging its financial infrastructure advantages to develop into an international gold trading center, attracting gold spot storage, clearing, and delivery in Hong Kong, thereby driving the development of related financial transactions, insurance, as well as warehousing, trade, and logistics services in the related industrial chain. As a unique bridge connecting global and mainland markets, Hong Kong will continue to deepen cooperation with international markets, including countries along the "Belt and Road" initiative.

In addition, representatives from the Financial Services and the Treasury Bureau also engaged in in-depth discussions with the delegation regarding cooperation in the gold market. Xu Zhengyu hopes to facilitate the early signing of a memorandum of cooperation between the two parties, laying the foundation for future collaboration in building an international gold trading ecosystem.

During the meeting, Xu Zhengyu also expressed gratitude to Minister Santiphab for his continued support, which has led to the first round of negotiations on the agreement in Hong Kong starting from March 23. He hopes that both parties will sign the agreement soon to create a more attractive business environment and promote bilateral trade and investment