HK to release control on strategic commodities trade

The Hong Kong Special Administrative Region (HKSAR) government will soon table the revised Imports and Exports Regulations on Strategic Commodities to the Legislative Council to reflect updated international controls on strategic commodities, a government spokesman said here Thursday.

The main changes include the removal of control over microprocessors that have multiple data or instruction bus or serial communication ports, and the relaxation of the control threshold in terms of computers' operational speed, the spokesman for the Trade and Industry Department said.

The amendments will relieve traders of the burden of applying for imports and exports licenses for the specific types of microprocessors and computers concerned, according to the Trade and Industry Department.

The imports and exports of strategic commodities are currently subject to licensing control by the Director-General of Trade and Industry.

Imposing licensing controls helps monitor and control the flow of strategic commodities to maintain technology-supplying countries' confidence in Hong Kong's control system, ensuring Hong Kong's continued access to technology, the spokesman said.

The Amendment Order, which was gazetted on Thursday, will come into force on a day the Director-General of Trade and Industry will appoint by notice in the Gazette.

Source: Xinhua