Chinese Gold and Silver Exchange Society

Chinese Gold and Silver Exchange Society

Chinese Gold and Silver Exchange Society headquarters
Traditional Chinese 金銀業貿易場
Logo of CGSES member firm Lee Cheong Gold Dealers on their shop at Bonham Strand, Sheung Wan

The Chinese Gold and Silver Exchange Society is an organisation of gold trading firms in Hong Kong who are participants of the Chinese Gold and Silver Exchange, the first exchange in Hong Kong.[1]

History

The CGSES was formally established as an organisation in 1910.[2][3] Its founders were immigrants from mainland China.[4] It eventually stopped trading silver, but gold trading saw significant growth after 1974 when the government loosened legal restrictions, and by 1979 trading volume was roughly one million ounces per day, making it one of the world's four largest gold trading centres along with London, New York, and Zurich.[5]

In politics

Members of the CGSES entitled to vote at its general meetings are one of two categories of persons eligible to register as Financial Services functional constituency electors, the other being exchange participants of Hong Kong Exchanges and Clearing. This gives them the right to elect a representative to the Legislative Council, as well seats in the Election Committee.[6]

See also

References

External links

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