The Hong Kong Port and Maritime Board is a non-statutory body made up of members appointed by the Chief Executive. Formerly known as the Port Development Board, it was restructured and renamed in June 1998 to take on the additional task of promoting the Hong Kong shipping industry and Hong Kong as an international shipping centre.

    Hong Kong is one of the few major international ports in the world where port facilities are fully privately owned and operated. The board provides the forum for the Government and private sectors to work together to maintain Hong Kong's status as a world-class port and an international maritime centre.

    The Port Development Committee of the board recommends strategies for planning new port facilities. It also examines port cargo forecasts and assesses port development needs in the light of changing demand, port capacity, productivity, performance and competition both locally and regionally.

    Hong Kong has a successful shipping industry with many well known and experienced shipowners, ship management companies and shipping-related companies. The Shipping Committee of the board formulates measures to promote synergy between the port, shipping and shipping-related industries, and to facilitate the operation of the shipping industry in Hong Kong.

    To make the Hong Kong Shipping Register (HKSR) more competitive, measures for improvements have already been introduced since 1999. These improvements include reduced fees, streamlined ship registration procedures, provision of one-stop-shop services and a simplified but still rigorous survey cycle. All the above measures aim at lowering shipowners' operating costs while maintaining Hong Kong's reputation as a quality register. As a world-class shipping register with a reputation for excellent quality and service, the HKSR has received support from major shipowners in the region.

    To enhance the competitiveness of the shipping industry, Hong Kong is keen to negotiate double taxation relief arrangements on shipping income with its trading partners. Agreements for the avoidance of double taxation in respect of shipping income signed with the United Kingdom and the Netherlands in 2000 have been in effect in Hong Kong since April 2002. Together with similar arrangements with the United States and the Mainland as well as the confirmed provisions of reciprocal tax exemption with the tax authorities of New Zealand and the Republic of Korea, Hong Kong shipowners are exempt from tax on their international shipping income in five countries and the Mainland.

    The board has also conducted a study to develop a competitive strategy and master plan to consolidate and secure Hong Kong's position as an International Maritime Centre. The 'Study to Strengthen Hong Kong's Role as an International Maritime Centre' identified new initiatives to enhance Hong Kong's attractiveness as a base for international maritime enterprises and to develop its maritime services.