Hong Kong Maritime and Port Development Board: Measures in two important policy documents inject new impetus into the long-term development of Hong Kong's international shipping centre

On September 16, the Hong Kong Maritime and Port Development Board welcomed a series of measures to promote the development of the maritime and port industries set out in the Hong Kong Special Administrative Region Government's "Hong Kong's First Five-Year Plan" and the "Chief Executive's 2026 Policy Address." "Hong Kong's First Five-Year Plan" provides forward-looking, strategic and directional guidance for Hong Kong's economic and social development over the next five years; the "Policy Address" sets out the annual policy priorities for implementing "Hong Kong's First Five-Year Plan," and the two are closely connected and mutually reinforcing. In the face of profound changes in the international geopolitical and trade landscape, the measures on maritime and port development put forward in the two important policy documents will help the industry seize new opportunities and enhance its competitiveness, injecting new impetus into the long-term development of Hong Kong's international shipping centre. Dr. Cheng Mo-chi, Chairman of the Hong Kong Maritime and Port Development Board, said: "We are pleased to see the Government put forward pragmatic and enterprising policy measures with a forward-looking vision in response to the needs of the industry, promoting Hong Kong's comprehensive upgrading and transformation from a 'large tonnage port' to a 'value port' and building Hong Kong into a global shipping capital." The Hong Kong Maritime and Port Development Board is particularly encouraged by a series of new initiatives by the Government to support the green transformation of shipping, including the announcement within this year of the first "green energy corridor" to be established with a mainland city. In addition, in strengthening the high value-added maritime services ecosystem, the Government will reform Hong Kong's ship registration system, including the introduction of a "dual flag ship system"; and, together with the Hong Kong Maritime and Port Development Board and the industry, will explore feasible options for linking finance with shipping, with a focus on shipping insurance and ship financing. In addition, the Hong Kong Maritime and Port Development Board supports the Government in working with terminal operators to formulate a roadmap for the intelligent and green development of the Kwai Tsing Container Terminals, promoting the building of a green and smart port in Hong Kong; and will participate deeply in the development of the Guangdong-Hong Kong-Macao Greater Bay Area port cluster to promote efficient regional port collaboration. At the same time, the Hong Kong Maritime and Port Development Board welcomes the Government's further leveraging of the strategic value of the Port Community System to develop offshore trade cargo tracking using blockchain technology, ensuring the industry stays at the forefront of digital transformation. Looking ahead, the Hong Kong Maritime and Port Development Board looks forward to continuing to work closely with the Government to jointly promote the further development of Hong Kong's shipping industry. "Hong Kong's First Five-Year Plan" and the "Policy Address" have set a clear direction for the development of Hong Kong's maritime and port industries. The Hong Kong Maritime and Port Development Board will continue to help drive the implementation of various measures, join hands with the industry to open up new prospects, and further enhance the competitiveness of Hong Kong's international shipping centre.