Chief Executive John Lee said in his 2025 Policy Address that the Government will continue striving to deepen Hong Kong’s international economic and trade networks by exploring the signing of new investment agreements with different countries.
He highlighted that the Government will examine signing new investment agreements with Saudi Arabia, Bangladesh, Egypt and Peru.
Mr Lee pointed out that an Economic & Trade Office (ETO) in Kuala Lumpur will be established this year to deepen economic and trade promotion in the Association of South East Asian Nations (ASEAN) and neighbouring countries, and will also expand the ETO coverage to Latin America and Central Asia.
To promote digital trade, the Government will introduce a legislative proposal next year for the digitalisation of business-to-business trade documents.
Moreover, the Trade Single Window will be expanded progressively to cover more trade documents. The Government, together with the Mainland’s General Administration of Customs, will work to connect the single windows of Hong Kong and the Mainland, and explore the feasibility of extending the existing “Single Submission for Dual Declaration” Scheme to include other trade documents and transport modes. The Government will also discuss the possibility of connecting the single windows with ASEAN.
To promote commodity trading, half rate tax concessions for commodity traders will be provided to set up businesses in Hong Kong, driving demand for shipping and professional maritime services. Legislative amendments will be made in the first half of next year.
Deepening connections with the Guangzhou Futures Exchange and other commodity markets in the Mainland will contribute to the internationalisation of the country’s commodity market, Mr Lee emphasised.
He added that the Government will set up the Strategic Committee on Commodities, led by the Financial Secretary. It will bring together industry representatives with the aim of strengthening the top-down design and long-term strategy of the city’s commodity policy.
As an international shipping centre, Hong Kong will establish a comprehensive “rail-sea-land-river” Intermodal Transport System connecting to the inland region. With that goal in mind, Mr Lee explained that the Government is actively extending Hong Kong’s cargo sources, promoting intermodal cargo transport from the Mainland’s inland provinces and cities to international markets through Hong Kong via rail, sea, land and river.
To strengthen Hong Kong’s leading position in high value-added maritime services, the Government will amend the Merchant Shipping (Registration) Ordinance next year to render the registration processes more flexible and digitalised. It will also step up promotion of tax concessions and enhance the marine insurance business.
Additionally, the Chief Executive stated that the Port Community System, to be launched in January next year, will provide a cargo tracking function and connect sea, land, and air transport networks, bolstering trade and capital flows digitally.
To support the city’s modern logistics development, the Government will release the findings of the planning study on the development of modern logistics clusters in Hung Shui Kiu/Ha Tsuen New Development Area this year. It will invite expressions of interest from the industry next year and draw up tender conditions.
To reinforce Hong Kong’s role as an international aviation hub, the Government has taken forward the expansion of Airport City development, Mr Lee indicated.
The construction of AsiaWorld Expo Phase 2 has begun and is expected to be completed in 2028. The Airport Authority will invite expressions of interest in the development of a yacht bay and its ancillary facilities early next year. Such facilities will be completed in phases starting in 2028.
In parallel, it is moving ahead with the construction of a logistics park in Dongguan, to help boost the use of Hong Kong air cargo services for transporting goods to and from the Mainland.
Furthermore, starting in October, exemptions from the Air Passenger Departure Tax will be expanded to include passengers travelling to Hong Kong for transit by sea or land.
Regarding Hong Kong’s legal and dispute resolution services, Mr Lee made it clear that the Government fully supports the work of the International Organization for Mediation (IOMed), and will organise international conferences, professional training, internships and other programmes to help Hong Kong’s young people and legal professionals work with the IOMed, nurturing more international mediation professionals for the city.
Moreover, the Department of Justice will construct the Hong Kong International Legal Service Building adjacent to the IOMed headquarters. The building will house facilities such as the headquarters of the Hong Kong International Legal Talents Training Academy, as well as international legal and dispute resolution services institutions.
The Deputy Secretary for Justice is tasked with promoting Hong Kong’s legal services and will collaborate with other professional service sectors, such as accounting and finance, to support Mainland enterprises wishing to expand overseas, Mr Lee specified.
