Pan Gongsheng attends Hong Kong summit, boosts financial ties
People's Bank of China Governor Pan Gongsheng attended the Hong Kong Fixed Income and Currency (FIC) & Bond Connect Summit on July 7, 2026. He witnessed the launch of a precious metals clearing company and a gold market cooperation, alongside a CIPS-HKEX MoU signing.
New infrastructure for precious metals
People's Bank of China Governor Pan Gongsheng participated in the Hong Kong Fixed Income and Currency (FIC) & Bond Connect Summit on July 7, 2026, where he delivered an address highlighting the ongoing commitment to financial market integration.
A central event of the summit was the launch ceremony for the trial operation of the Hong Kong Precious Metals Central Clearing Company Limited (HKPMCC).
This new infrastructure is designed to enhance the efficiency and robustness of precious metals trading and clearing in the region, thereby strengthening Hong Kong's position as a vital commodities hub.
The launch also signified a deepening of Shanghai-Hong Kong gold market cooperation, aiming to create more seamless cross-border gold transaction channels.
Furthermore, Governor Pan witnessed the signing of a memorandum of understanding between the Cross-border Interbank Payment System Company Limited (CIPS) and Hong Kong Exchanges and Clearing Limited (HKEX).
This agreement is set to foster greater collaboration in payment and clearing systems, which is crucial for supporting the expansion of mutual market access and reinforcing the broader financial connectivity between the Chinese mainland and Hong Kong.
High-level dialogues on market access
Governor Pan Gongsheng's visit to Hong Kong included a series of high-level meetings with key financial and government officials.
He paid a courtesy visit to Chief Executive John Lee Ka-chiu and met with Paul Chan Mo-po, Financial Secretary, Eddie Yue Wai-man, Chief Executive of the Hong Kong Monetary Authority (HKMA), and Julia Leung Fung-yee, CEO of the Securities and Futures Commission (SFC).
Discussions focused on current macroeconomic and financial developments, deepening mutual access between mainland and Hong Kong financial markets, and strengthening Hong Kong’s offshore RMB market.
They also exchanged views on consolidating and enhancing Hong Kong’s position as an international financial center, underscoring a shared commitment to regional financial stability and growth.
Deepening integration, strengthening hubs
These initiatives underscore Hong Kong's strategic importance as a gateway for mainland China's financial markets.
The launches and agreements signal a concerted effort to enhance cross-border financial infrastructure and reinforce the city's role as a key offshore RMB center.
Discussions with top officials further cement the commitment to mutual market access and regional financial stability.