Hong Kong Unveils Action Plan to Cement Its Position as a Leading Global Shipping Hub
The plan highlights Hong Kong’s strategic location, institutional benefits, open market, and extensive trade expertise, focusing on contributing to the nation's pursuit of high-quality development. This high-quality growth, central to the country's goals of innovation, efficiency, and sustainability, is vital to building a modern socialist society by the middle of the 21st century.
One of the key projects is to create a green, intelligent port. The Hong Kong government will explore the potential for green methanol and other clean energy options to refuel ships and expects to release a detailed action plan by next year, as announced by Transport and Logistics Secretary Lam Sai-hung.
To enhance environmental awareness and sustainable practices within smaller companies, starting in 2024, the government will utilize a HK$200 million injection into the Maritime and Aviation Training Fund for professional development and education.
Additionally, efforts are underway to boost the efficiency of cargo handling and digitize the maritime sector, including revising port fees. Other initiatives include tax incentives, securing new cargo sources, improving the ship registry system, and fostering collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area.
These measures are in response to mounting competition in the Pearl River Delta region, especially as the Chinese mainland eases shipping regulations and introduces incentives like port tax rebates.
Despite Hong Kong's port remaining in the top 10 globally, with a throughput of 16.69 million TEUs last year, it faces challenges compared to its peak performance from a decade ago.
Since the proposal by Financial Secretary Paul Chan Mo-po, the government has been working on this plan, engaging with industry experts and analyzing the competitive edge of Hong Kong's maritime and port sectors. With a clear direction set, Hong Kong is ready to roll out this action plan in stages, in collaboration with the Hong Kong Maritime and Port Board and other stakeholders, as per Secretary Lam.
One of the key projects is to create a green, intelligent port. The Hong Kong government will explore the potential for green methanol and other clean energy options to refuel ships and expects to release a detailed action plan by next year, as announced by Transport and Logistics Secretary Lam Sai-hung.
To enhance environmental awareness and sustainable practices within smaller companies, starting in 2024, the government will utilize a HK$200 million injection into the Maritime and Aviation Training Fund for professional development and education.
Additionally, efforts are underway to boost the efficiency of cargo handling and digitize the maritime sector, including revising port fees. Other initiatives include tax incentives, securing new cargo sources, improving the ship registry system, and fostering collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area.
These measures are in response to mounting competition in the Pearl River Delta region, especially as the Chinese mainland eases shipping regulations and introduces incentives like port tax rebates.
Despite Hong Kong's port remaining in the top 10 globally, with a throughput of 16.69 million TEUs last year, it faces challenges compared to its peak performance from a decade ago.
Since the proposal by Financial Secretary Paul Chan Mo-po, the government has been working on this plan, engaging with industry experts and analyzing the competitive edge of Hong Kong's maritime and port sectors. With a clear direction set, Hong Kong is ready to roll out this action plan in stages, in collaboration with the Hong Kong Maritime and Port Board and other stakeholders, as per Secretary Lam.