Hong Kong launches action plan to develop ports into leading international maritime centre

The government has announced a plan to develop Hong Kong into a leading international maritime centre, and promote the sustainable development of the industry.

The plan addresses some of the challenges faced by Hong Kong’s maritime and ports industry, including declining cargo throughput and rising competition.

It comes amid a downtrend at the port of Hong Kong – container throughput has been in decline for about a decade, dropping from 23.1 million twenty-foot equivalent units (TEUs) in 2012 to 16.7 million TEUs last year. Strong competition from other ports in both China’s Greater Bay Area and Southeast Asia has coincided with high costs, constrained port operation areas and a shift in supply chain and trade flow patterns to the detriment of the facility.

“With its superior geographical location, unique institutional advantages, free economic system and rich experience of international business and trade, Hong Kong is well-positioned to become the world’s leading international maritime centre,” Lam Sai-hung, the secretary for transport and logistics, said at a media briefing during the launch of the plan.

As Hong Kong’s ports faces intensified regional competition, reduced cargo supplies and a weakening of their competitive advantages, the government needs to propose more measures to consolidate Hong Kong’s advantages, said Ryan Ip, the vice-president and co-head of research at the Our Hong Kong Foundation.