Hong Kong – 2024 Policy Address by the Chief Executive on the International Shipping Centre

Hong Kong, which ranks fourth on the International Shipping Center Development Index (ISCDI), is one of the busiest and most effective ports in the world. Hong Kong has earned the reputation of being a “catch-up port” for boats looking to make up for delays in other ports due to the average duration of stay of container vessels in the port, which is 0.95 days, about half the average of 1.85 days for the world’s top 20 container ports.

The Hong Kong Special Administrative Region (HKSAR) Government is committed to advancing the growth of professional and high-value marine services. In fact, by offering tax exemptions for ship leasing businesses and half-rate tax concessions for marine insurance, ship management, ship agency, and ship broking, the government has been pushing more shipping commercial principals and maritime service firms to establish presence in Hong Kong. Hong Kong’s marine capabilities will be strengthened further by HKSAR. Among the pertinent actions are encourage the Development of Maritime Services with High Value Addition;