To develop Hong Kong into a trading, storage, logistics and distribution hub for high-value goods, Hong Kong Government is proposed to amend the Import & Export (Registration) Regulations to implement HKD 200 (USD 25.5) cap on import and export declaration charges. It will come into effect on August 1st, 2018 if it is passed within the current legislative session.

Due to high labor and operation cost of Hong Kong, many exporters now hesitate to export their goods to Hong Kong or to choose Hong Kong’s port to reexport their goods to other places in Asia. With such amendment, this will definitely lower the cost of importing and exporting high-value goods to and from Hong Kong, bringing direct benefit to the local trading and logistics industry. The proposed cap is expected to save the trade about HKD 458 million (USD 58.35 million) a year and benefit about 900,000 cases involving goods at a value above $1.644 million (USD 0.21 million).

Dubai Exports – Hong Kong office closely monitor any change of Hong Kong import regulation and notifies DE members so as to take necessary actions when doing trade in the region. 

 

Source: 
HKSAR Government News Portal (http://news.gov.hk)