The Government today welcomed the London Metal Exchange (LME), a subsidiary of Hong Kong Exchanges & Clearing (HKEX), approving Hong Kong as a delivery point within the LME’s global warehousing network and accepting applications from warehouse operators to store LME-registered brands of metals.

Secretary for Financial Services & the Treasury Christopher Hui said approving Hong Kong as an LME delivery point will bring efficient and comprehensive services to the global metal markets, leveraging Hong Kong's institutional and legal advantages, and demonstrating its role as a “super connector” and “super value-adder” to connect Mainland and international opportunities.

He pointed out this will help consolidate and enhance Hong Kong's position as an international financial, shipping and trade centre.

Mr Hui added that the establishment of LME-accredited warehouses in Hong Kong will provide the most convenient, more cost-effective and safer delivery channels for related metals trading in the region.

It will also increase the demand for Hong Kong's trade, shipping, warehousing and transportation industries, strengthen Hong Kong's commodities ecosystem, and lay a foundation for future financial-related trading.

HKEX and the LME will actively communicate with the industry and encourage applications from warehouse operators, whereas the Government will provide assistance as appropriate.