London Metal Exchange approves Hong Kong as metal delivery point

This shows HK’s role as a “super connector.”

Hong Kong has been designated by the London Metal Exchange (LME), a subsidiary of Hong Kong Exchanges & Clearing (HKEX), as a delivery point for its global warehousing network.

According to authorities, LME will now accept applications from warehouse operators to store LME-registered metals in the city.

Secretary for Financial Services & the Treasury Christopher Hui said this development will leverage Hong Kong's institutional and legal advantages, and demonstrate its role as a “super connector” and “super value-adder” to connect Mainland China and international opportunities.

This will also increase the demand for Hong Kong's trade, shipping, warehousing and transportation industries, strengthen its commodities ecosystem, and lay a foundation for future financial-related trading, the secretary added.

HKEX and the LME will communicate with the industry and encourage applications from warehouse operators, whilst the government will provide assistance as appropriate.