Traditional Chinese 金銀業貿易場 | Hanyu Pinyin | |
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Yale Romanization Gāmngàhnyihp Mauhyihkchèuhng | ||
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.
Contents
History
The CGSES was formally established as an organisation in 1910. Its founders were immigrants from mainland China. 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 City, and Zurich.
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.