China Resources Logistics × GKE Celebration Ceremony for LME-approved Hong Kong Warehouse Operations Successfully Held

The China Resources Logistics × GKE Celebration Ceremony for LME-approved Hong Kong Warehouse Operations was grandly held at Yuen Fat Wharf & Godown in Cheung Sha Wan, Hong Kong. The ceremony was attended by the Paul CHAN Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region; Mr. Yin Zonghua, Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region; Mr. Christopher Hui, Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region; Mr. Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited; Ms. Bonnie Y Chan, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited; Mr. Matthew Chamberlain, CEO of the London Metal Exchange; Ms. LAU Hai Suen, Alpha, Director-General of Investment Promotion; Mr. Lam Lung On, Chairman of Greater Bay Area Imports and Exports Association; Mr. Li Jing, Chief Executive Officer of GKE Metal Group, an LME-registered operator; as well as executives and representatives from more than 10 leading enterprises in the metals industry. Mr. Han Yuewei, Vice General Manager of China Resources Holdings, served as the officiating guest, with Ms. Cheng Jie, Chairman of China Resources Enterprise Ltd., and other related personnel also in attendance.

Speech by Paul Chan, GBM, GBS, MH, JP, Financial Secretary of the Government of Hong Kong Special Administrative Region

Last year, the HKSAR Government’s Policy Address proposed the development of a commodities trading ecosystem. To date, all eight approved and recognized warehouses have commenced operations. Leveraging its strong capabilities, China Resources Logistics, a leading enterprise focusing on warehousing and intelligent logistics management in the Guangdong-Hong Kong-Macao Greater Bay Area, has had two warehouses under its subsidiary, China Resources Logistics (Yuen Fat Wharf & Godown) Limited, successfully selected, becoming part of the first batch of LME-certified metal delivery warehouse operators in Hong Kong.

Mr. Paul CHAN Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region stated that joining the LME delivery network represents an important step in building Hong Kong’s commodities trading ecosystem. It will contribute to serving the country’s development strategy and further consolidate and enhance Hong Kong’s status as an international financial, shipping, and trading hub. He emphasized that this initiative will drive both quantitative and qualitative changes in the metals market, strengthen the resilience of the regional non-ferrous metals supply chain, and foster the integrated development and innovative synergy between Hong Kong’s financial and logistics services. He also commended China Resources’ long-term investment and rich experience in Hong Kong’s warehousing and logistics sector. China Resources Logistics has actively participated in the development of Hong Kong’s commodities trading ecosystem, and its two newly commissioned warehouses in Cheung Sha Wan are the only certified delivery locations in Hong Kong with both maritime and land transport connectivity, providing high-quality services to support Hong Kong’s international metals trading development. The HKSAR Government will continue to support the development of metal delivery warehouse projects.

Speech by Carlson Tong, GBS, JP, Chairman of Hong Kong Exchanges and Clearing Limited

Mr. Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited, stated that Hong Kong is a natural hub connecting Mainland China with the rest of the world. In just over half a year, all eight approved warehouses have been put into operation, with more than 8,000 tonnes of LME-registered warrants issued, fully demonstrating “Hong Kong speed.” Looking ahead, HKEX and the LME will continue to work closely with the industry to jointly build Hong Kong’s commodities trading ecosystem, serve the real economy, and enhance Hong Kong’s international competitiveness.

Speech by Han Yuewei, Vice General Manager of China Resources Holdings

Mr. Han Yuewei, Vice General Manager of China Resources Holdings, stated that China Resources is rooted in Hong Kong, oriented towards the Mainland, and connected to the world. Logistics is one of China Resources’ key focus areas in Hong Kong. China Resources Logistics has already established a strategic presence across critical logistics hubs, including the Northern Metropolis, the Kwai Tsing Port area, and the Fo Tan central logistics cluster, while advancing digital transformation. Looking ahead, China Resources will provide more professional services to empower the real economy and contribute to Hong Kong’s high-quality development and long-term prosperity and stability.

Speech by Mr. Li Jing, Chief Executive Officer of GKE METAL GRUOP

Mr Jason Li, CEO of GKE Metal Group, stated that GKE, in collaboration with China Resources Logistics, has completed LME warrant registrations for copper, nickel, and tin. This achievement has reduced delivery times, optimized logistics costs, enhanced international influence, and created greater business value. He emphasized that the transition from the “first order” to “regular operations” will be realized at a rapid pace.

Officiating guests witnessed the China Resources Logistics × GKE Celebration Ceremony for LME-approved Hong Kong Warehouse Operations. From left to right: Matthew Chamberlain, CEO of the London Metal Exchange (first from left); Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing Limited (second from left); Christopher Hui, Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region (third from left); Yin Zonghua, Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (fourth from left); Paul Chan Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region (fourth from right); Han Yuewei, Vice General Manager of China Resources Holdings (third from right); Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited (second from right); and Li Jing, CEO of GKE Metal Group (first from right)

In the presence of more than 80 guests from government, business, and industry associations, Paul CHAN Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region, and Mr. Yin Zonghua, Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, jointly inaugurated the future development of metal futures delivery and logistics services in Hong Kong. During the ceremony, Ms. Cheng Jie, Chairman of China Resources Enterprise Ltd., and Mr. Matthew Chamberlain, CEO of the London Metal Exchange, presented commemorative metal warehouse warrants to partner enterprises in appreciation of their trust and support. Many of these enterprises, which are leading companies from both China and overseas, participated in the event as a positive response to Hong Kong’s strategic positioning and as proof of its unique advantages. The prosperity of Hong Kong’s metals futures market will rely on the continued participation of these enterprises. During the event, guests engaged in discussions on policy support for Hong Kong’s commodities trading and opportunities in the metals logistics market, while also giving high recognition to the professional warehousing and operational capabilities of China Resources Logistics and GKE Metal Group. Following the ceremony, GKE Metal Group and other leading enterprises in the metals industry held further exchanges with representatives from HKEX and the LME.

Group photo of the event

Looking forward, China Resources Logistics will continue to leverage its warehousing advantages in the Greater Bay Area, the accreditation of LME certification, and the extensive operational experience of its partner GKE Metal Group in bulk metals, to further upgrade its supporting logistics service capabilities for bulk metal trade. The company will actively collaborate with upstream and downstream partners across the industry chain, contributing strong momentum to Hong Kong’s prosperity and development.

Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $7.95 million

Hong Kong Customs detected two dangerous drugs cases in Tseung Kwan O and Hong Kong International Airport respectively yesterday (May 21) and today (May 22), and seized a total of about 21.8 kilograms of assorted drugs with a total estimated market value of about $7.95 million. Two men and one woman, aged between 38 and 49, were arrested.

In the first case, Customs officers intercepted a 48-year-old man and a 49-year-old woman in Tseung Kwan O during an anti-narcotics operation yesterday afternoon. About 3.8kg of suspected drugs, including ketamine, methamphetamine, etomidate capsules, psilocybin mushrooms, MDMA and a batch of suspected drug packaging paraphernalia were found in their residence in the same district. They were then arrested.

In the second case, a 38-year-old male passenger arrived in Hong Kong from Amsterdam, the Netherlands, today. During customs clearance, Customs officers found about 18kg of suspected ketamine inside his check-in suitcase and 33 sticks of duty-not-paid cigarette inside his carry-on baggage. The man was subsequently arrested.

The arrested man and woman in the first case have been jointly charged with one count of trafficking in a dangerous drug and one count of possession of apparatus fit and intended for the inhalation of a dangerous drug. The case will be brought up at the Kwun Tong Magistrates' Courts tomorrow (May 23), while an investigation is ongoing for the second case.

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Under the Dutiable Commodities Ordinance, cigarettes are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $7.95 million Source: HKSAR Government Press Releases

Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $7.95 million Source: HKSAR Government Press Releases