Hong Kong Financial Secretary Paul Chan: Proposes to provide a half-tax incentive for eligible commodity trading activities, expected to submit a draft by the end of the year.

According to the Securities Times APP, Financial Secretary of Hong Kong, Paul Chan, said at the LME Asia Metals Seminar that the government proposed in last year's policy address to establish a trading ecosystem for commodities. In January of this year, Hong Kong gained permission from the London Metal Exchange (LME) to include its warehouses in the global network of delivery points, making storage facilities closer to mainland industrial and consumption centers. So far, 7 warehouses have been granted permission, and they are expected to start operating one after another as early as July this year. The SAR government plans to provide half-tax concessions for eligible commodity trading activities and expects to submit a bill to the Legislative Council by the end of the year.