Over the past two years, Hong Kong has moved with unusual frequency in the gold market—a level of activity unseen in decades. On 1 January 2025, the Chinese Gold & Silver Exchange Society, with 115 years of history behind it, completed its corporatization and was restructured to continue operating under the new name Hong Kong Gold Exchange (HKGX), becoming Hong Kong's sole statutory exchange for spot gold, spot silver and precious metals. On 26 June 2025, the Shanghai Gold Exchange (SGE) commissioned its first offshore international board designated vault​ in Hong Kong, enabling, for the first time, the offshore physical delivery of RMB-denominated gold.

On 7 July 2026, the Hong Kong Gold Central Clearing and Settlement System​ commenced pilot operation, with eight supporting measures rolled out in tandem to build a modern, full-chain gold trading ecosystem. On 18 August 2026, the formal establishment of Hong Kong Gold Exchange Trading System Limited was announced—another significant step forward in the development of Hong Kong's gold trading infrastructure. On 16 September 2026, Hong Kong unveiled its first Five-Year Plan, which identifies gold as the entry point for building a commodities trading ecosystem.

This series of coordinated moves makes one thing clear: Hong Kong is not merely building a gold trading market, it is assembling the infrastructure piece by piece—clearing, vaulting, refining, benchmark pricing, cross-border connectivity—to construct a complete, closed-loop gold ecosystem. In other words, Hong Kong is positioning itself to secure a voice for the Asia-Pacific region in the gold market and to become one pole in the global gold pricing architecture.

The eastward shift in gold pricing power is not a slogan; it is a trend. Yet for Hong Kong to raise its competitiveness and influence in global gold pricing, simple gold trading and circulation will not suffice. What is required is market participants of sufficient scale, a mature trading service framework, ample liquidity, and a fully developed market ecosystem. Upway Global, as a leading member of the Hong Kong Gold Exchange, has become a market force that cannot be overlooked in Hong Kong's contest for global gold pricing power.

Upway Global is Class AA Member No. 084​ of the Hong Kong Gold Exchange, holds the Exchange's Accredited Delivery Bar Manufacturer Certificate, and is a member of the HKGX Gold Group. As a Class AA member, Upway Global operates as a pure electronic trading firm, focused on price quoting and trade execution. As an accredited delivery bar manufacturer, it possesses the capability to produce high-purity physical gold meeting the highest international standards. Holding both electronic trading credentials and accredited gold bar refining and manufacturing qualifications, Upway Global occupies precisely the most critical link in the gold pricing closed loop.

Upway Global's weight in Hong Kong's pursuit of gold pricing power ultimately rests on trading volume. According to data disclosed by Upway Global, the platform has served a cumulative 8.3 million-plus clients, has over 2.13 million Professional Investors, and has processed a cumulative 700 million-plus orders. From January 2026 to August 2026, the platform's average monthly trading volume exceeded USD 1.31 trillion. This demonstrates that Upway Global is a platform capable of delivering consistent, reliable service and sustained trade execution even under extreme market conditions, thereby providing positive liquidity to the market.

As Hong Kong's gold market continues to mature, Hong Kong's standing in the global gold pricing system will enter a new stage of development. Upway Global will remain rooted in Hong Kong, drawing on its vast client base, robust intelligent risk management system, and professional precious metals trading services to actively supply liquidity to the Hong Kong gold market—delivering critical market-side support for Hong Kong's bid in the contest for gold pricing power.