SUCCESS Activity
“Leveraging E-Commerce Ecosystem in Hong Kong to Develop Cross-Border E-Commerce” (Seminar)
(This webinar will be held at Trade and Industry Tower on 25 January 2024)
The global markets for e-commerce continue to grow in recent years. In this seminar co-organised by SUCCESS and Hong Kong Federation of E-Commerce, experts will share online cross-border shopping patterns and payment methods in the Mainland and other regions, the logistics challenges of operating cross-border e-commerce, and how to enter the Mainland market and overseas Chinese markets through Xiaohongshu, with a view to assisting SMEs in embarking on a global business journey. (This webinar will be conducted in Cantonese.)
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SUCCESS-supported Activity
HKMA/HKT Global Innovation Award 2024: Award Briefing and Networking Session
(This activity will be live-streamed and held at South Seas Centre on 31 January 2024)
This activity is organised by the Hong Kong Management Association (HKMA). SUCCESS is one of the supporting organisations. This activity will introduce the format, judging criteria and process of the HKMA/HKT Global Innovation Award 2024. Past winners are also invited to share their experience and winning tips. (This activity will be conducted in English.)
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Labour Department invites employers to join the Good Employer Charter 2024
The Labour Department (LD) launches the Good Employer Charter 2024 featuring the theme of “Supportive Family-friendly Good Employer” to continuously encourage employers of different trades and scales to adopt good human resource management and family-friendly employment practices so as to promote employees’ work-family / work-life balance. The Good Employer Charter 2024 is now open for enrolment. LD welcomes participation from all private organisations, public bodies, employers’ associations / trade unions / professional bodies, and non-governmental organisations / social enterprises / educational institutions in Hong Kong. The deadline for submission is 31 March 2024. Please visit the thematic website of the Good Employer Charter 2024 (www.gec.labour.gov.hk) for details.
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United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2024 gazetted
The Government gazetted the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 (Amendment) Regulation 2024 on 19 January 2024, which came into operation on the same day.
“The Amendment Regulation amends the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2019 to give effect to certain decisions relating to sanctions in the United Nations Security Council Resolution 2688 in respect of the Democratic Republic of the Congo,” a Government spokesman said.
The amendments renew arms embargo, travel ban and financial sanctions.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/19/P2024011900209.htm?fontSize=1.
Inland Revenue (Amendment) (Tax Deductions for Spectrum Utilization Fees) Ordinance 2024 took effect upon gazettal
The Government gazetted the Inland Revenue (Amendment) (Tax Deductions for Spectrum Utilization Fees) Ordinance 2024 (Amendment Ordinance) to provide for tax deductions for spectrum utilization fees (SUF) payable by mobile network operators (MNOs) on radio spectrum acquired in the future on 19 January 2024. The Amendment Ordinance took immediate effect on the same day.
“Thanks to the passage of the relevant bill by the Legislative Council on 10 January, we successfully implement the proposal in the 2023-24 Budget to provide greater incentives for MNOs to invest in mobile communications services by bidding of radio spectrum to further improve network quality. The general public can thereby enjoy better communications services, and Hong Kong can be supported more effectively in the development of high-end and innovative technologies, facilitating our economic development in the long run,” a spokesman for the Commerce and Economic Development Bureau said.
Under the Amendment Ordinance, the SUF payable by MNOs for the radio spectrum to be acquired in the future is to be fully deductible, and the tax deduction will be spread over the spectrum assignment term (which is generally 15 years). The Amendment Ordinance has no retrospective effect and is only applicable to the SUF incurred from the spectrum acquired on or after 19 January 2024. In other words, the SUF payable in respect of radio spectrum assigned in the past, whether they are already paid or to be paid, remain not tax deductible.
The Government will continue to facilitate the development of 5G in Hong Kong through a series of measures, including the timely provision of more radio spectrum to the market through auctions for the provision of mobile communications services. It is the Government's plan to conduct auctions for the spectrum in the 850/900 MHz, 2.3 GHz and the newly launched 6/7 GHz bands within this year to make available a total of 510 MHz of radio spectrum for public mobile communications services.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/19/P2024011900214.htm?fontSize=1.
Pilot Scheme on Subvention for New Sports in year 2024-25 open for applications until 23 February 2024
The Leisure and Cultural Services Department (LCSD) announced on 15 January 2024 that the 2024-25 Pilot Scheme on Subvention for New Sports is open for applications from 15 January until 23 February. Local sports organisations could use the subvention to promote the development of new sports, thus providing more opportunities and choices for members of the public to take part in sports activities.
To encourage eligible organisations to step up promotion of new sports, the LCSD will increase the amount of subvention under the Scheme for this year. Each successful applicant sports organisation will be offered a maximum of $180,000 ($150,000 for year 2023-24), or 85 per cent of the total eligible expenditure of the individual activity, whichever is the lower.
A sports organisation wishing to apply for the subvention must be a non-profit making organisation with Articles of Association registered as a company limited by guarantee under the Companies Ordinance (Cap. 622). The new sport under application must be distinct from the sports/disciplines currently solely governed by national sports associations under the Sports Federation & Olympic Committee of Hong Kong, China. The applicant organisation must also be recognised by and affiliated to the international federation/Asian federation/regional federation/recognised by the General Administration of Sport of China, and have successful experience in organising sports development programmes of various levels and types with eager participation by the public in the past two years.
The applicant sports organisations shall provide a comprehensive long-term development and promotion plan as supplementary information. They should also provide relevant information on their competency in organising and arranging programmes; information illustrating a well-established governance structure with transparent and accountable policies, and its credentials as a widely recognised body in the sports sector.
Priority will be given to new applicant sports organisations. As for previous applicant sports organisations, the LCSD will take into consideration their past performance and records when vetting their applications.
For enquiries, please contact the Sports Funding Office of the LCSD at 2601 8756 or email sns@lcsd.gov.hk. Details of the Scheme can be found on the LCSD's website (www.lcsd.gov.hk/sns).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/15/P2024011500230.htm.
Gazettal of Pesticides Ordinance (Amendment of Schedule 2) Notice 2024
The Pesticides Ordinance (Amendment of Schedule 2) Notice 2024 was published in the Gazette on 12 January 2024. The Notice aims to amend Part 1 of Schedule 2 to the Pesticides Ordinance (Cap. 133), listing a type of pesticides called terbufos, in order to give effect to the amendment to the Rotterdam Convention on the Prior Informed Consent Procedure for Certain Hazardous Chemicals and Pesticides in International Trade in 2023 (the amendment) to list terbufos in its Annex III. The amendment to the Pesticides Ordinance will tighten the regulatory regime regarding terbufos, thereby safeguarding public health and protecting the environment. The Government will table the Notice at the Legislative Council on 17 January 2024.
A spokesman for the Environment and Ecology Bureau said, "Terbufos is already regulated by pesticide Permit conditions under the Pesticides Ordinance. Any person who imports, manufactures, sells, supplies, is in possession of or uses such pesticides must hold a valid permit. After terbufos is listed in Part 1 of Schedule 2 to the Pesticides Ordinance, its exports will be further restricted."
The Convention is an international treaty for safeguarding human health and protecting the environment. The Convention, which implements a prior informed consent procedure in the international trade of specified hazardous chemicals, aims to promote shared responsibility and co-operative efforts among parties to the Convention, with a view to protecting human health and avoiding potential harm to the environment caused by such chemicals. The treaty entered into force in China in 2005 and has been applicable to the Hong Kong Special Administrative Region since 2008. The amendment entered into force for all Convention parties, including China, on 22 October 2023.
The amendment to the Pesticides Ordinance will enter into force in Hong Kong on 20 March 2024. Any person who exports, imports, manufactures, sells, supplies, possesses or uses terbufos without holding a pesticide Permit commits an offence. Offenders will be liable to a fine at level 5 ($50,000) and imprisonment for one year upon conviction.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/12/P2024011100538.htm.
Applications invited for Main Fund of Sir David Trench Fund for Recreation
The Sir David Trench Fund Committee is inviting eligible organisations to apply for projects funded by the Main Fund of the Sir David Trench Fund for Recreation (the Fund) for 2024-25.
The Fund is to be used for the provision of facilities and purchase of equipment for projects in the furtherance of the objectives of the Fund. In keeping with the donor's wishes, emphasis is placed on encouraging the purposeful use of leisure by young people.
Three categories of grants are available under the Fund, namely Non-Capital Works Project, Capital Works Project and Special Project. Each applicant organisation can only submit one application under each type of project within that year. Details of the Fund, the application guidelines and application forms are available on the website of the Culture, Sports and Tourism Bureau (www.cstb.gov.hk/en/councils-boards-and-committees/sir-david-trench-fund-committee.html).
For enquiries, please contact the Secretariat of the Sir David Trench Fund Committee at 3509 7068 or 3509 8039.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/12/P2024011200126.htm.
Hong Kong signs first protocol to amend ASEAN - Hong Kong, China free trade agreement
The Secretary for Commerce and Economic Development, Mr Algernon Yau, signed the First Protocol to Amend the Free Trade Agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and Hong Kong (the Protocol) on 9 January 2024, to update the Product Specific Rules (PSR) of origin under the FTA, enhancing the coverage of the PSR from more than 200 categories of products to almost 600, thereby enabling Hong Kong businesses to more easily and effectively gain Hong Kong-originating status for an increased number of specified products, and thus enjoy preferential tariff treatment when expanding into the growing ASEAN market.
The specified products incorporated into the FTA through the Protocol include various categories of products of interest to Hong Kong traders and manufacturers, such as jewellery, medicaments, food products and textile products. The signing of the Protocol will help enhance the competitiveness of the products concerned and trade flows, creating more business opportunities for Hong Kong businesses in the ASEAN market.
"ASEAN is Hong Kong's second-largest trading partner in merchandise trade with a total trade volume of around $1,294 billion in 2022, representing a growth of over 38 per cent since the signing of the FTA in 2017. Our burgeoning trade has been uplifted by the FTA, signifying the latter's importance in consolidating our position as an international trade centre," Mr Yau said.
"I have full confidence that the implementation of the Protocol will further drive growth in our economic and trade relations with the ASEAN member states. As a staunch proponent of free trade, Hong Kong, joining hands with our trading partners, will continue to strive for further liberalisation of trade in the region," he added.
The text of the Protocol will be uploaded onto the TID's website (www.tid.gov.hk/english/ita/fta/hkasean/index.html) after all parties have completed their signing. Hong Kong and ASEAN will continue to work closely to bring about the early implementation of the Protocol, so that Hong Kong exporters may reap the benefits as soon as possible.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202401/09/P2024010900389.htm.
Topical Issues
Support Measures relating to Liquidity
In view of the cash-flow pressure of SMEs, SUCCESS has compiled a summary of support measures relating to liquidity.
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SME ReachOut
“SME ReachOut”, a dedicated service team operated by HKPC, has commenced operation since 1 January 2020 to enhance SMEs’ understanding of the Government’s funding schemes, with a view to encouraging better utilisation of the support provided by the Government. The team would help SMEs identify funding schemes that suit their needs, and answer questions relating to applications.
The Government has allocated $100 million to enhance the services of “SME ReachOut” for five years starting from 2023. The enhanced services have rolled out in October 2023, including arranging visits to more chambers of commerce, commercial and industrial buildings and co-working spaces, and increasing the publicity in social media so as to step up the promotion of government funding schemes. At the same time, more one-on-one consultation sessions will be provided to assist SMEs in applying for government funding and building their capacities, and enhancing their competitiveness through leveraging new technologies.
For further information or enquiries on “SME ReachOut”, please contact “SME ReachOut” Hotline / WhatsApp (Text Message Only) at 2788 6868 or email by sme_reachout@hkpc.org or visit https://www.hkpc.org/en/support-resource/sme-one/sme-reachout.
Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)
Following the signing of the Investment Promotion and Protection Agreement between Hong Kong and Türkiye, the geographical scope of funding support of the BUD Fund has been extended to Türkiye with effect from 31 October 2023 to further support Hong Kong enterprises in developing their businesses in the market. The total number of economies covered under the BUD Fund is thereby increased to 381 .
The HKPC as the BUD Fund implementation partner regularly organises seminars/webinars in order to enhance enterprises’ understanding of the BUD Fund, including "Easy BUD". For more details of the BUD Fund, please visit its website (www.bud.hkpc.org/en) or contact the HKPC at 2788 6088.
1Besides the newly added economy of Türkiye, the other 37 economies covered under the BUD Fund are the Mainland, New Zealand, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the ten member states of the Association of Southeast Asian Nations (comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Georgia, Australia, Austria, Belgo-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Japan, Korea, Kuwait, Mexico, the Netherlands, Sweden, the United Arab Emirates and the United Kingdom.
Business News
GDETO Newsletter
The latest issue of the Hong Kong Economic and Trade Office in Guangdong (GDETO) Newsletter has been published.
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Commercial Information Circulars (CICs) of the Mainland
The TID issued a number of Commercial Information Circulars (CICs) on the Mainland's trade and economic rules and regulations. The latest CICs have been published.
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