Strategic Committee on Commodities convenes first meeting
The Strategic Committee on Commodities, chaired by the Financial Secretary, Mr Paul Chan, convened its first meeting today (December 22).
Mr Chan said, "Driven by the interplay of several major trends, including the geopolitical situation, technological transformation and green transition, the global supply and demand landscape for commodities such as precious metals, non-ferrous metals, traditional energy and materials related to new energy is undergoing profound changes. As one of the world's major consumers and importers and exporters of commodities, our country is pressing ahead with high-quality development, firmly advancing towards its dual carbon goals, and stepping up investment in green industries. These developments highlight our country's strengths in building a global hub for commodity resource allocation. As an international financial, trade and shipping centre, Hong Kong enjoys the unique advantage of connecting the Mainland and the world under the 'one country, two systems' principle, with the free flow of capital, goods and information, together with its efficient financial, logistics and professional services and a well-connected transport network. Hong Kong possesses enormous potential in developing the commodities market, enabling it to serve and contribute to the development of our country and the world on this front, while creating more diversified development opportunities for itself.
"In the past year or two, Hong Kong has been actively building a more vibrant commodities ecosystem, from joining the global warehousing network of the London Metal Exchange to facilitate physical metal delivery, to expediting the establishment of an international gold trading market, and we have already taken solid steps in this regard. Looking ahead, Hong Kong needs to, through high‑level government coordination, formulate and implement a comprehensive development strategy for commodities in order to seize future development opportunities."
He continued, "The Committee brings together leaders from across the commodities trading ecosystem, including finance, commerce and trade, shipping, logistics and professional services sectors to conduct in-depth and comprehensive research into global commodities market trends, thoroughly review the current landscape and trends in areas such as physical trade, financial and derivative trading, as well as shipping and logistics. It will also study the opportunities for developing businesses of various major and emerging categories of commodities in Hong Kong, enhance market mechanisms and regulatory framework, build an industry ecosystem, and explore mutual market access with the Chinese Mainland. The Committee will also provide specific recommendations on the positioning, development planning and promotion strategy for Hong Kong's commodities market."
At today's meeting, the Committee received a briefing on global commodities market trends and Hong Kong's development potential, and discussed the categories of commodities and key areas that should be prioritised for in-depth study and discussions.
In the 2025 Policy Address, the Chief Executive proposed the establishment of the "Strategic Committee on Commodities" to bring together industry representatives with the aim of strengthening the top-down design and long-term strategy of our commodity policy. The membership of the Committee is as follows:
Chairman
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Financial Secretary
Non-official members
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Mr Angad Banga
Mr Kenneth Chan Kin-nin
Ms Agnes Chan Sui-kuen
Ms Clara Chan Yuen-shan
Mr Gary Cheng
Dr Moses Cheng Mo-chi
Mr Vincent Chui Yik-chiu
Mr Richard Hext
Mr Ken Huang Jianhua
Ms Liu Sha
Dr Wingco Lo Kam-wing
Mr Dario Pong Chiu-yee
Mr Sham Man-fai
Mr Tiger Shi Chenghu
Mr Harold Wong Tsu-hing
Ms Zhang Hanying
Ms Zhu Jing
Official members
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Deputy Financial Secretary
Secretary for Financial Services and the Treasury
Secretary for Commerce and Economic Development
Secretary for Development
Secretary for Transport and Logistics
Head of the Chief Executive's Policy Unit
Government Economist
Representatives from the Office for Attracting Strategic Enterprises, Invest Hong Kong, the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority, Hong Kong Exchanges and Clearing Limited, the Hong Kong Maritime and Port Development Board and the Airport Authority Hong Kong will attend the meeting as necessary.
Strategic Committee on Commodities convenes first meeting Source: HKSAR Government Press Releases
Strategic Committee on Commodities convenes first meeting Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis
The following is issued on behalf of the Legislative Council Secretariat:
The President of Legislative Council (LegCo), Dr Starry Lee, as well as members of LegCo Panel on Development and other Members conducted the third visit to the Northern Metropolis (NM) today (September 10) to gain insight into the latest planning and development of the Kwu Tung North (KTN) New Development Area (NDA), the efforts to conserve the ecology of and historic buildings in NM, and the Administration's measures to promote urban-rural integration.
Accompanied by the Secretary for Development, Ms Bernadette Linn, and the Secretary for Housing, Ms Winnie Ho, Members first observed the construction sites of the public housing estate Kwu Chun Estate, several private housing projects, and the MTR Kwu Tung Station at the newly constructed Road P1 in the KTN NDA. They were also briefed by the Administration on the overall planning and development concepts of the KTN NDA, as well as the latest development progress of housing, transport infrastructure, and the Government joint-user complex and general office building in the district.
Members learnt that Kwu Chun Estate is among the first batch of public rental housing projects in the NDAs of the NM, with phase one comprising about 5 000 units that will be ready for intake in phases starting from the third quarter of this year. The Kwu Tung Station is also expected to commence service in 2027. Members exchanged views with government officials on the construction of community facilities, such as markets, shopping centres, public transport facilities and schools in the NDA, and urged the Administration to ensure that community facilities are in place when residents start to move in to meet the needs of local residents.
Members also visited the Sik Sik Yuen Lady Ho Tung Welfare Centre Eco-Learn Institute in Kwu Tung. Built in 1933, the Lady Ho Tung Welfare Centre provided medical services to local villagers until its closure in 2005. The Centre was subsequently accorded Grade II historic building status, and then revitalised into an ecological learning institute in 2023. Members toured the ecology and cultural history exhibition hall and the outdoor areas, which features facilities including an eco-pond and a Chinese medical herbs garden. Members were also briefed by the Administration on policies regarding revitalisation and conservation of historic buildings, as well as the revitalisation and conservation process of the Institute.
Accompanied by the Acting Secretary for Environment and Ecology, Miss Diane Wong, Members also visited the Long Valley Nature Park and the nearby Yin Kong Village to learn about the Government's efforts to promote urban-rural integration and ecological conservation in the NM. Members noted that, to promote urban-rural integration in the NM, the Governmentproposed establishing a $200 million "NM Urban-Rural Integration Fund" as a pilot scheme to support non-governmental organisations to take forward urban-rural integration projects, as well as piloting the relaxation of planning restrictions on "Village Type Development" in Yin Kong Village, allowing houses within the village to be converted into restaurants, retail shops or guesthouses, with a view to boosting economic activities in villages and tourism development.
Members welcomed the Administration's implementation of various measures to promote integration of villages and NDAs when planning the NDAs in the NM. They exchanged views with the representatives of the Government on how to assist villagers in retrofitting their houses for engaging in economic activities, as well as the infrastructure upgrading works, such as transport and sewerage, required to cope with the additional economic activities.
A total of 64 Members attended the visit. In addition to members of the Panel on Development, other non-members also attended.
Click here to watch the video highlight of today's visit.
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
LegCo Members visit Kwu Tung North New Development Area in Northern Metropolis Source: HKSAR Government Press Releases
