Hong Kong’s bridge of gold completes China’s yuan ambition

Beijing’s push to accumulate gold serves a larger goal: yuan internationalisation.

In this series, Part I traces China’s path to becoming a gold superpower, while this article explores Hong Kong’s key role in safeguarding the nation’s financial security.

In 2013, one-third of the world’s traded gold passed through Hong Kong. That year, the city imported 1,158 tonnes of bullion, overtaking India, the traditional top buyer.

For all our love of the glittering metal, little of it stayed in our...