2025-10-23 11:53:24
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Upway Global proudly announces that Upway China has been awarded the prestigious " Authorised Good Delivery Bars Minter" by the Hong Kong Gold Exchange (HKGX), setting a new benchmark in the precious metals industry. This authoritative certification highlights the companys exceptional expertise in refining processes, quality control, and regulatory compliance. As the highest Operation Status AA Class member number 084 of HKGX and a core member of the Bullion Group, Upway Global has consistently earned market trust through relentless technological innovation and stringent quality standards, driving robust growth in Hong Kongs precious metals market. This honor reflects Upway Global ’s dedication to professionalism and integrity, upholding industry trust and excellence, and establishing a new global standard in precious metals trading.
Hong Kong Gold Exchange: Asia’s Oldest and Most Authoritative Precious Metals Platform
The Hong Kong Gold Exchange (HKGX), formerly the Chinese Gold and Silver Exchange Society (CGSE) established in 1910, is Asia’s oldest and most authoritative precious metals trading platform and the only legally authorised exchange for physical gold and silver trading in Hong Kong. With 115 years of industry heritage and regulatory experience, HKGX has a membership cap of 192, including banks, precious metals refiners, and electronic trading platforms. The exchange fosters technological innovation and enhanced regulation, adopting “open outcry” and electronic trading to ensure transparency, fairness, and efficiency. It has instituted a comprehensive delivery mechanism, maintaining a list of recognised delivery refiners comprising leading local and international refineries, banks, and metal enterprises. These refiners guarantee metal quality meeting global standards and issue purity, weight, and delivery certificates, providing a solid quality assurance to market participants. Serving as a vital nexus connecting local and global precious metal markets, HKGX is committed to driving technological progress and market development, advancing Hong Kong as Asia’s gold trading hub.
Bullion Group: The Pillar of Hong Kong’s Precious Metals Market Stability and Integrity
Bullion Group is the most influential core member organisation within the Chinese Gold and Silver Exchange Society (CGSE), HKGX’s predecessor. Comprising approximately 30 members, the Group includes some of the oldest and most capital-strong local gold merchants and banks such as HSBC Hong Kong, Bank of China (Hong Kong), Chow Tai Fook, Chow Sang Sang, and Tse Sui Luen Jewelry. This powerful consortium plays a critical role by participating daily in the public gold fixing (“published price”) and bearing unlimited joint and several liabilities for trade defaults, ensuring market stability and security. Bullion Group members also manage and co-operate multiple compliant gold vaults, providing extensive storage capacity with rigorous security and quality control procedures to safeguard the integrity of physical gold according to international standards.
As the trusted core of the industry, the Bullion Group is fundamental to Hong Kong’s precious metals market credit system. It safeguards market fairness and transparency through stringent risk management and professional operations, ensuring the safety of participant funds and smooth trading. Group members also lead in technological innovation, compliance management, and industry advancement, fostering sustained market stability and reinforcing Hong Kong as an international gold trading center.
HKGX’s Operation Status System Ensuring Market Transparency and Security
HKGX adopts an Operation Status framework based on capital strength, business scale, and compliance levels, ranging from AA, A1, A2, B, C, D, E to S classes. The AA tier is the highest, granting maximum trading limits, electronic trading qualification, and settlement priority, supporting trading in physical gold, silver, and a variety of electronic contracts. All members are required to open accounts with designated clearing banks to secure fund safety and transparency, and strictly comply with exchange regulations and risk controls. Members include major banks, precious metals traders, and refining-casting enterprises, forming the backbone of Hong Kong’s gold market.
Membership is split into ordinary members and registered gold bar refiners. Ordinary members encompass core market players including precious metals traders, banks, and jewelers. Registered refiners are rigorously reviewed and certified entities authorised for delivery, ensuring their products meet international standards. Membership application demands companies to be Hong Kong-registered limited companies with strong financial resources and good reputation, submit comprehensive legal and financial documentation, and employ professionally competent full-time management. Members must abide by rules, pay dues, and regularly attend general assemblies and supervisory committee meetings. Currently, HKGX hosts over a hundred members, covering well-established local and international metal enterprises, advancing Hong Kong’s growth as a leading precious metals trading hub within Asia.
The Highest Standard in Refining: Authorised Good Delivery Bars Minter and Its Rigorous Process
On the refiner front, HKGX confers the most authoritative and industry-highest standard "Authorised Good Delivery Bars Minter" to registered refiners that pass stringent technical, quality control, and compliance audits. These refiners are qualified to produce physical gold delivery bars conforming to HKGX standards (e.g., one kilogram and five tael bars with 999.9 purity), whose products are eligible for direct market delivery. The certification process involves submission of refining technology, production facilities, and quality control reports, subject to regular spot checks and supervision by the exchange. This ensures gold bars meet international purity, weight, and marking standards. Certificate holders enhance product market credibility and provide physical quality assurances to investors, acting as critical quality gatekeepers in the precious metals trading chain. Compared with ordinary refiner certificates, the "Authorised Good Delivery Bars Minter" represents higher authority and access threshold, embodying the industry’s utmost standard.
Future Outlook: Expansion of Refining Facilities and International Gold Trading Market to Fortify Hong Kong’s Global Gold Trading Role
In industry development and market clearing outlook, HKGX Chairman Mr. Haywood Cheung recently suggested to government authorities the reservation of sites in the Northern Metropolis for the establishment of refineries and gold vaults to align with policy initiatives advancing Hong Kong’s gold market. He noted Hong Kong’s favorable conditions for physical gold storage and its potential for developing more related derivative products. Regarding refinery development, Mr. Cheung highlighted Hong Kong’s established experience and technology, stressing that government support would significantly enhance progress. He mentioned the exchange itself holds refinery licenses and operates several active refineries; inviting more mainland refineries to settle in Hong Kong would promote overall market transaction capacity and technical enhancement in refining and purification.
On the government-led proposal to establish an International Gold Trading Market, Mr. Cheung believes official leadership would enhance system acceptance but warned that market-driven participation remains crucial due to existing market concerns. He emphasised inclusiveness of current market stakeholders even under government stewardship and underscored the critical importance of involving the Shanghai Gold Exchange (SGE) to facilitate gold connectivity and strengthen Hong Kong’s status as an international gold trading center.
Upway Global is proud to support these initiatives towards advancing Hong Kong as the Asia’s Global Gold Trading Hub.