Secretary for Financial Services & the Treasury Christopher Hui today welcomed the approval by the London Metal Exchange (LME), a wholly-owned subsidiary of the Hong Kong Exchanges & Clearing (HKEX), of the applications to designate three warehouses in Yuen Long as approved warehouses.

This decision demonstrates the strong industry support for the policy direction to promote commodity trading as announced in this year’s Policy Address, further enhancing Hong Kong's commodity trading ecosystem and consolidating its status as an international financial, shipping and trading centre.

Mr Hui said that the three new warehouses are ready for immediate operation, providing efficient delivery options to market participants in international metal trading, while also driving the development of Hong Kong's shipping and related services.

He added that in less than nine months since Hong Kong's inclusion in the LME's global warehousing network, the total number of LME-approved warehouses has increased to 11, including the eight previously approved.

“This strengthens Hong Kong's advantage in infrastructure and reinforces our position as a key LME delivery hub in Asia.”