Hong Kong Government Plans New Measures to Support SMEs and Expand Markets

The Secretary for Commerce and Economic Development, Edward Yau, announced at a press conference on budget-related measures that the government is committed to optimizing various initiatives to support small and medium enterprises (SMEs) in innovation, enhancing competitiveness, and seizing opportunities to explore new markets. According to RTHK, the government is preparing to inject HKD 200 million into the BUD Special Fund, with execution details expected to be launched in the second quarter of this year. Yau stated that with the advancement of high-level two-way openness, mainland enterprises are more actively exploring overseas markets. Promotional activities will be held in Hong Kong and various provinces and cities in mainland China, and a cross-sector professional service platform will be established. This platform will include legal, accounting, financial, testing, certification, and marketing services from Hong Kong professionals to support mainland enterprises going abroad. The government also plans to organize overseas inspection tours to help mainland enterprises understand foreign markets. He further mentioned that Hong Kong will strengthen its role as a key node in the Belt and Road Initiative, collaborating with the industry to deepen engagement in ASEAN and Middle Eastern markets, while exploring the potential of Central Asia, South Asia, and North Africa markets. The government has completed investment agreement negotiations with Qatar, Bangladesh, and Peru and is exploring new investment agreements with Saudi Arabia and Egypt.