Chen Maobo: Discuss the establishment of a list of bulk commodity mediators to help Hong Kong build a financial ecosystem for the metal industry.

Hong Kong Financial Secretary Paul Chan Mo-po said that the Hong Kong government is cooperating with the International Mediation Institute to explore the feasibility of establishing a roster of mediators specifically for bulk commodity trading. This roster will provide a neutral, professional, and efficient mediation mechanism for disputes arising from the entire chain of mineral extraction, production, trading, settlement, storage, and delivery, thereby reducing uncertainty in cross-border transactions, enhancing market participants' confidence, and supporting Hong Kong's development as an international hub for commodities and gold trading. Speaking at the London Metal Exchange (LME) Asian Metals Seminar, Paul Chan Mo-po stated that the outlook for the metal industry in Hong Kong is optimistic. The government is actively building an ecosystem covering financial services related to metals, with the goal of allowing Hong Kong to meet all kinds of core needs of bulk commodity enterprises in a one-stop manner, including commodity financing, derivative tools, shipping and trade insurance, as well as financial products linked to sustainable development. He welcomes more metal and mining companies to establish themselves in Hong Kong and list on the Hong Kong stock exchange to attract international and mainland funds. He also welcomes these companies to use the Hong Kong platform to manage their global business and corporate financial activities. Taking the example of a Kazakh mining company that listed simultaneously in Hong Kong and international stock exchanges last year, he expects more companies to follow suit, which will also help promote bulk commodities priced in RMB. Paul Chan Mo-po believes that Hong Kong is well positioned to offer more bulk commodity products priced in RMB for mainland and international market participants, thereby enhancing China's influence in global commodity pricing. Hong Kong will actively explore mutual market access arrangements with major markets around the world in the metal sector, potentially involving the cross-listing and mutual recognition of metal ETFs and other exchange-traded products. He emphasized that the bulk commodity market, like the stock and fixed income markets, has immense potential for achieving mutual connectivity. He mentioned that the number of Hong Kong warehouses recognized by the London Metal Exchange has increased to 15, with plans to continue expanding the network in the future. Finally, Paul Chan Mo-po reiterated that Hong Kong's role as a free port will become even more critical in the context of increasing global geopolitical tensions and supply chain restructuring.