The London Metal Exchange intends to set up a warehouse in Hong Kong to strengthen con

The London Metal Exchange under the Hong Kong Stock Exchange intends to set up a metal warehouse in Hong Kong to strengthen its connection with the metal market in mainland China.

Comprehensive Hong Kong Radio and Ming Pao reported that Chen Yiting, Chief Executive CEO of the Hong Kong Stock Exchange on Thursday (June 27) at the London Metal Exchange (LME) Asian Metal Seminar, said that Hong Kong as an international financial center, Hong Kong,Link to the mainland and the world to play a unique role.The core strategy of the Hong Kong Stock Exchange is to interconnect with the mainland and has an incompetent position in maintaining the connection between the mainland metal industry and the international market.

She said that the Hong Kong Stock Exchange is exploring the possibility of using Hong Kong as a LME metal warehouse, and recently commissioned third parties to conduct feasibility studies.Hong Kong has logistics infrastructure, reputation and familiar international framework. If the LME metal warehouse is set in Hong Kong, the mainland physical metal market will be connected with the international pricing of LME, creating more market arbitrage opportunities, and through South China, in South China,Highway connection to improve logistics costs.

Cecilia Ceciliaei, Chief Executive Officer of LME, said that if the establishment of a warehouse in Hong Kong, mainland metal holders can use the transportation network to transport the metal to the neighboring Hong Kong warehouse, which is conducive to the consistency of the physical settlement.

Cecilia Lian revealed that the establishment of a metal warehouse in Hong Kong is expected to be implemented in three stages. At present, the first phase of research laws are undergoing issues.Details of stages.

He introduced that LME will assist in the metal warehouse operator in the second stage plan to find the location of the establishment of a warehouse.Establish a warehouse.After that, the position of the warehouse is proposed to be approved.Therefore, it is difficult for LME to be evaluated in the second stage of planning process.

Cecilia Lian said that LME does not directly operate a metal warehouse, but is responsible for operating the warehouse by third -party operators.This is the decision to implement the third stage plan.

LME currently has 32 metal warehouses worldwide, of which 10 are located in the Middle East and Asia, the Asia -Pacific warehouse is located in Japan, South Korea, Singapore and Malaysia.Metal warehouses were established in cities Gada and Hong Kong.