[Hong Kong’s First Five-Year Plan: Using Gold as the Entry Point to Build a Commodity Trading Ecosystem] On September 16, Hong Kong SAR Chief Executive Lee Ka-chao announced the “First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)” (referred to as the “Plan”) and the “Chief Executive’s 2026 Policy Address”. The "Plan" mentioned that gold will be used as the entry point to build a commodity trading ecosystem. Comprehensively promote the coordinated development of gold trading-related clearing systems, warehousing, supply and infrastructure, and give full play to the role of gold as a strategic asset. Long-term benchmarking of major international gold trading centers and a dual-track development pattern of software and hardware. Accelerate the construction of infrastructure to provide efficient and reliable services for international standard gold transactions. Comprehensive support for more gold merchants and financial institutions to settle in Hong Kong and expand capacity. Comprehensively enhance Hong Kong’s gold storage capacity and refining capabilities. Strengthen local talent training and study the provision of further preferential policies for gold-related enterprises. Deepen cooperation between the local and mainland gold markets, actively promote interconnection, build a one-stop storage, trading, clearing and service center, and build an integrated gold ecosystem. Explore the development of RMB-denominated gold markets and commodity markets, strengthen cooperation with mainland exchanges such as the Shanghai Gold Exchange and Shanghai Futures Exchange, increase efforts to attract international investors, and increase RMB-priced products.