HKTDC welcomes Hong Kong SAR's 2025-26 Budget

Associated Press

27-02-2025

New Budget Comprehensively Supports SMEs
Fostering Sustained Momentum for Hong Kong's Economic and Trade Development
HONG KONG - February 27, 2025 ( NEWMEDIAWIRE) - The Hong Kong Trade Development Council (HKTDC) welcomes the 2025-26 Budget announced this morning by the Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), Paul Chan.
The Budget introduces a series of measures centred around technological innovation to empower industrial development and facilitate the continuous growth of SMEs and start-ups. The measures also help attract diverse sources of investment and promote mega events to comprehensively engage businesses, capital and talent. They also strive to accelerate development of the new quality productive forces to drive high-quality economic growth in Hong Kong.
HKTDC Chairman Dr Peter K N Lam believes that the series of measures in the Budget, including the injection of funds into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) and the SME Export Marketing Fund, offers concrete support to SMEs amid a challenging economic evnrionment. The Budget also proposes measure that help consolidate Hong Kong's advantages around its 'eight centres' positioning boosting future growth and prosperity.
Dr Lam added: 'The Budget mentions initiatives to strengthen assistance for local SMEs to explore the mainland market and increase e-commerce sales. This year, the HKTDC will launch the 'E-commerce Express' in collaboration with major e-commerce platforms and industry experts. Through a series of thematic training seminars and one-on-one advisory services, this initiative aims to enhance Hong Kong businesses' understanding of mainland e-commerce and online platforms, offering comprehensive support for SMEs intending to expand into the mainland e-commerce market. The upcoming second edition of the Hong Kong Shopping Festival in August serves as the flagship event of this initiative, offering Hong Kong businesses hands-on experience using e-commerce platforms to explore the mainland market and enhance the visibility of their products and brands. The HKTDC will work closely with the Trade and Industry Department to enhance mentorship schemes, empowering Hong Kong businesses to effectively leverage mainland e-commerce and online platforms to promote their products.'
The Budget also proposes various measures to promote innovation and technology development, with increasing exposure for local tech products being an important component. The HKTDC will launch a thematic pop-up display area to its Hong Kong Design Gallery, as well as at exhibition venues during major exhibitions, to showcase local high-quality and innovative technology products to local and overseas buyers and consumers.
The HKTDC will closely collaborate with local education and research institutions to provide more physical product showcases and sales platforms for Hong Kong technology enterprises and start-ups. These partnerships will help Hong Kong research companies build their product brand image, while raising the visibility of Hong Kong brands among local and international buyers.
In strengthening Hong Kong's role as a superconnector and super value-adder, the Budget mentions that the Financial Services and the Treasury Bureau, in collaboration with the Office for Attracting Strategic Enterprises (OASES) and the HKTDC, will host the inaugural Hong Kong Global Financial and Industry Summit this year. By leveraging Hong Kong's financial strengths, the new Summit will further enhance international industrial cooperation to attract capital and businesses to Hong Kong. The HKTDC is also enhancing project connections and deal-making promotion at the Belt and Road Summit, focusing on green development and innovative technology, positioning Hong Kong as a commercial hub for Belt and Road.
The HKTDC will continue to closely cooperate with the HKSAR Government, actively promoting Hong Kong's advantages to global markets, while attracting international financial and business leaders to explore global market opportunities through the Hong Kong platform.
The HKTDC will continue to enhance Hong Kong's competitiveness and international connections. In the 2025-26 fiscal year, the HKTDC will focus on three main areas:
1.Reinforcing Hong Kong's unique position as a resilient and connected global business hub, while strengthening its integration into national development as well as its role as a superconnector and super value-adder;
2.Fortifying Hong Kong's competitiveness by embracing innovation and sustainable development to support the national new quality productive forces strategy, while seizing opportunities arising from global trends;
3.Building the next generation of connected and future-ready SMEs and start-ups, while fast-tracking SMEs' digital transformation.
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