HSBC CEO identifies gold as a high-quality hedge against inflation

At an international financial leaders summit, HSBC Group CEO Noel de Garis highlighted gold as a premier safe-haven asset capable of hedging against long-term inflation. He noted that gold possesses intrinsic value through industrial use and jewelry, contrasting it with the lack of intrinsic value in cryptocurrencies.

In Hong Kong, the development of a gold trading ecosystem is gaining momentum. The first Hang Seng Bank gold ETF raised 1 billion HKD within its first week of launch. To support global operations, the bank has established gold storage facilities in Hong Kong, London, and New York.

Other financial leaders discussed regional trends, with Bank of China Vice President and President Zhang Hui positioning Hong Kong as a strategic core for connecting Chinese development dividends with global capital. Meanwhile, Societe Generale CEO Slawomir Krupa discussed the bank's shift toward green finance, noting a reduction in traditional energy financing from 80 percent in 2019 to less than 40 percent currently.