Chief Executive John Lee announced the government’s commitment to enhancing Hong Kong’s maritime industry and consolidating its role as a global shipping hub. In his 2024 Policy Address, he outlined key measures aimed at fostering growth and sustainability in the sector.
Reconstituting the Maritime & Port Board
To drive long-term growth, the Hong Kong Maritime & Port Board will be reconstituted into the “Hong Kong Maritime & Port Development Board.” This advisory body will assist the government in formulating policies and development strategies. Additional funding will enhance its research capabilities, promote its presence in Mainland China and overseas, and support manpower training initiatives, ensuring effective policy implementation and sustainable growth for the maritime industry.
Boosting High-Value Maritime Services
The government aims to promote high-value-added maritime services by introducing tax concessions to strengthen the local maritime ecosystem. These measures are designed to attract maritime enterprises to establish a foothold in Hong Kong, while also fostering talent development within the maritime services sector.
Green Maritime Center Initiatives
As part of the government’s strategy to establish a green maritime center, efforts will begin with incentivizing the decarbonization of registered ships through cash rewards for meeting international standards. Additionally, plans are underway to develop a green maritime fuel bunkering center. This initiative will involve creating infrastructure for green maritime fuel terminals, promoting emission reductions at ports, and building a green shipping corridor with major trading partners.
Promoting the Commodity Trading Ecosystem
Hong Kong’s strategic focus on maritime trade extends to creating a robust commodity trading ecosystem. Shipowners and commodity traders, who are key users of shipping routes, will be encouraged to set up operations in Hong Kong through tax concessions and other support measures. The government is keen to attract international enterprises, particularly in the non-ferrous metals sector, to drive demand for maritime services and related financial activities.
Development of a Smart Port
To modernize Hong Kong’s shipping infrastructure, a port community system will be installed by next year. This system will enable shipment tracking, provide real-time transport information, facilitate electronic document retrieval, and support port data analysis. The initiative aims to streamline data sharing among stakeholders in the maritime and logistics industries, while also promoting Hong Kong’s maritime strengths on a global stage.
Expanding Logistics Services
In line with its broader economic strategy, the government is also pushing for high-value-added logistics services. It has launched the Action Plan on Modern Logistics Development and will release sites for the construction of high-end, multi-story logistics facilities. Cooperation with Guangdong and neighboring regions will be strengthened, using the Hong Kong-Zhuhai-Macao Bridge to enhance the flow of goods through Hong Kong’s logistics network.
By advancing these initiatives, the government aims to solidify Hong Kong’s position as an international shipping, trade, and financial hub.
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Source: GovHK
