Hong Kong is inviting a number of China-friendly central banks to participate in its gold-clearing system as part of a push to elevate the city as a major bullion-trading hub.
The city is targeting countries already engaged in Beijing’s Belt and Road initiative to supply the institutional clout needed to position Hong Kong as an alternative center to London, according to people familiar with the matter, who asked not to be named discussing sensitive matters. They did not specify which central banks had been invited.
