The regulatory regime for dealers in precious metals and stones has come into effect on 1 April 2023. Since the implementation of the regime, the response from the trade has been positive and Hong Kong Customs has continuously received applications for registration as a Category A or Catergory B registrant.
The Dealers in Precious Metals and Stones Supervision Bureau (DPSB) has spared no effort to publicise the regime. Apart from approaching the dealers direct, a promotion vehicle was arranged to visit various districts for raising public awareness about the new regime. The DPSB also set up a booth at a large-scale jewellery exhibition in June 2023, and for the first time, provided on-site counter services to facilitate the submission of cash transaction reports by non-Hong Kong dealers during their participation in the exhibition.
The transitional period for registration will end on 31 December 2023. The DPSB will continue to promote the regime and encourage relevant dealers to register early.
■The Deputy Commissioner (Control and Enforcement) of Customs and Excise, Mr Chan Tsz-tat (second left), visited exhibitors of a jewellery exhibition held in June this year.
