Policy Address

Develop a Digitalised Port System

118. The Port Community System, to be launched in January next year, will provide cargo tracking function and connect sea, land and air transport networks, bolstering trade and capital flows digitally.

Better Harness the Strengths of High Value-added Maritime Services

119. Vessels owned, managed or operated by Hong Kong shipowners account for nearly 10% of the deadweight tonnage of the world's merchant fleet. Ships registered in Hong Kong are governed and protected by local law. Their operation will drive the development of high value-added maritime services, including ship management, ship leasing, marine insurance, maritime law and arbitration.

120. 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. We will also step up promotion of tax concessions and enhance the marine insurance business. The Government and the Insurance Authority (IA) are engaging the industry in establishing a dedicated marine risk pool to enhance Hong Kong's underwriting capacity for both local and Mainland markets.