The London Metal Exchange has approved three designated warehouses in Yuen Long, demonstrating the strong industry support for the policy direction to promote commodity trading announced in the policy address, said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.
Hui welcomed the decision by the subsidiary of Hong Kong Exchanges and Clearing (0388), saying it further enhanced Hong Kong's commodity trading ecosystem and consolidated its status as an international financial, shipping, and trading center.
In less than nine months since Hong Kong's inclusion in the LME's global warehousing network, the total number of LME-approved warehouses has now increased to 11.
This strengthens the SAR’s advantage in infrastructure and reinforces our position as a key LME delivery hub in Asia, Hui said.
The three new warehouses are ready for immediate operation, providing efficient delivery options to market participants in international metal trading, while also driving the development of Hong Kong's shipping and related services, he added.
