AsianFin -- The Hong Kong Special Administrative Region (HKSAR) government on Monday welcomed the decision announced by the London Metal Exchange (LME) to include Hong Kong as an LME warehouse location, saying that the move will consolidate the city's position as an international financial, shipping and trade center.
The LME, a subsidiary of the Hong Kong Exchanges and Clearing Limited, announced on Monday that it would include Hong Kong as an approved delivery point within the LME's global warehousing network and will accept applications from warehouse operators to become approved for the storage of LME-registered brands of metals.
Christopher Hui, secretary for Financial Services and the Treasury of the HKSAR government, said that the approval would bring efficient and comprehensive services to the global metal markets, leveraging Hong Kong's institutional and legal advantages, and demonstrating its role as a "super-connector" and "super value-adder" to connect mainland, the world's largest consumer of metals, and international opportunities.
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