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6Policy RecommendationsFigure 44. Five recommendations to improve Hong Kong’s logistics competitivenessTradingandLogistics Reform the siteallocation mechanism2Relocate Kwai Tsing Container Terminals3Develop dedicated logistics nodes1‘Hardware’‘Software’Conduct economic reviews and formulateindustrial policies45Establish a statutory body for the development of strategic industriesTo cope with the aforementioned challenges in terms of land shortage and lack of policy support for the logistics sector, we hereby propose five policy recommendations to promote the sustainable growth of the sector (Figure 44). In terms of ‘hardware’, we recommend that the Government develops dedicated logistics nodes, reforms the site allocation mechanism and operation model, and considers relocating the Kwai Tsing Container Terminals. Regarding ‘software’, we recommend that the Government conducts regular economic reviews, forms industrial policies, and establishes a statutory body for strategic industries like the logistics industry.64