(Policy Address 2024) Hong Kong to create a commodity trading ecosystem

John Lee said on Wednesday that they will explore the introduction of tax concessions and support measures to attract relevant enterprises in the mainland and overseas to set up businesses in Hong Kong, building a commodity trading ecosystem in the city.

The Hong Kong leader stated that commodities, including metals and minerals, account for more than half of the global shipping trade volume. Shipowners and commodity traders are the key users of shipping routes and maritime services. Their presence and operation in Hong Kong can drive the maritime services industry and boost demand for related financial and professional services, such as hedging activities of related futures products, conducive to consolidating and enhancing Hong Kong's status as an international financial, shipping and trade center.

He stated that they will explore the introduction of tax concessions and support measures to attract relevant enterprises in the mainland and overseas to set up businesses in Hong Kong, building a commodity trading ecosystem in the city.

Lee added that there has been an international commodity exchange expressing its intention to establish accredited warehouses in Hong Kong for storage and delivery of commodities, including non-ferrous metal products. And they will capitalize on this opportunity to establish relevant supporting facilities so as to attract mainland enterprises to engage in commodity trade, especially of non-ferrous metal, in Hong Kong, further expanding the demand for its maritime and trade services.