OREANDA-NEWS. Hong Kong Exchanges and Clearing Limited (HKEX) and Shanghai Gold Exchange (SGE) have signed a non-binding Memorandum of Understanding (MOU) to consider various potential areas of mutual interest, including joint development of precious metals products and cross-market connectivity.

HKEX Chief Executive Charles Li and SGE Chairman Jiao Jinpu signed the MOU on 23 March 2016 during a ceremony in Hong Kong hosted by HKEX.  Senior executives from HKEX and SGE attended the ceremony and witnessed the signing.

"This is another important step in the development of HKEX Group’s commodities business," said HKEX Chief Executive Charles Li.  "Our MOU with the Shanghai Gold Exchange gives us a good foundation for strategic dialogue and closer cooperation with the aim of introducing more attractive products and investment opportunities."

"SGE is committed to innovation and the opening-up of China's gold market, to better serve the gold industry, and promote the internationalisation of Renminbi," said SGE Chairman Jiao Jinpu.  "The signing of our MOU with HKEX represents a start for our future cooperation.  We look forward to working closely with HKEX to develop more diversified investment products and see how we can facilitate ties between our markets."

HKEX Chief Executive Charles Li (right) and SGE Chairman Jiao Jinpu (left) today signed an MOU on cooperation. Senior executives from HKEX and SGE attended the ceremony and witnessed the signing.