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20 March 2024

What's New
Topical Issues
Business News

The Support and Consultation Centre for SMEs (SUCCESS) run by the Trade and Industry Department (TID) of the Government of the Hong Kong Special Administrative Region (the Government of the HKSAR) provides small and medium enterprises (SMEs) with free business information and consultation services.

Our website:
Our email:
Our customer hotline:(852)2398 5133
(Service hours of hotline and counters: Monday to Friday 8:45 a.m.-12:30 p.m. & 1:30 p.m.-5:45 p.m., other than public holidays)

More Details

"Four-in-One" Integrated Services of SMEs Centres

To strengthen support for SMEs and to raise SMEs' awareness of the various funding schemes and support services, the TID consolidated the services of the existing four SMEs centres, namely, the "SUCCESS" under the TID, the "SME Centre" under the Hong Kong Trade Development Council (HKTDC), the "SME One" under the Hong Kong Productivity Council (HKPC) and the "TecONE" under the Hong Kong Science and Technology Parks Corporation (HKSTP), in October 2019 to provide one-stop "Four-in-One" integrated services for SMEs.  Enterprises can obtain business information, funding schemes information and advisory services, etc. at any of the centres.  In addition, a web portal called "SME Linkis also established for SMEs to access information and support services provided by the four SMEs centres and government departments from a single online platform.

"Government Funding Schemes" of the SME Link

The Government provides over 40 funding schemes with different funding scopes, amounts and requirements to promote and support the development of enterprises and industries in Hong Kong.  The "Government Funding Schemes" web page of the SME Link features information on these 40+ funding schemes, including overview and useful hyperlinks.  The web page's search tool supports multiple search filters to facilitate enterprises identifying suitable funding schemes.

Events & Activities of the SME Link

The "Events & Activities" of the SME Link facilitates enterprises to obtain information on activities organised by the four SMEs centres and various government departments, including seminars, workshops, exhibitions, conferences, training courses, etc., from a single platform, and also provides relevant links to facilitate registration.


What's New

2023-24 Hong Kong Awards for Industries (HKAI): Invitation for Entries

The 2023-24 HKAI, supported by the Government of the HKSAR, is now open for entries. Hong Kong companies in the manufacturing and services sectors are invited to join. The closing date for entries is 7 June 2024.

More Details and Relevant Press Release

"Four-in-One" Seminar Series

The four SMEs centres co-organise "Four-in-One" seminar series regularly. Themes of this seminar series in the first half of 2024 are "E-commerce", "Environmental, Social and Governance (ESG)" and "Funding Schemes". Upcoming webinar and seminars under this series are listed below. Interested persons are welcome to register at the links shown therein. Admission is Free.

I. InnoPreneur MeetUp – Digital Landscape in Mainland (Seminar)

(This seminar will be held at HKPC Building on 21 March 2024)

This seminar is held by the “SME One” of the HKPC. In this seminar, experts will share insights and real-life success stories on e-commerce platforms and digital marketing strategies in the Mainland of China, with a view to assisting SMEs in exploring the Mainland market. (This seminar will be conducted in Cantonese and Putonghua.)

More Details and Registration

II. Experience Sharing: Integrating ESG into Business (Seminar)

(This seminar will be held at Trade and Industry Tower on 22 March 2024)

This webinar is held by SUCCESS of the TID. In this seminar, representatives from the SME Sustainability Society are invited to share their experiences in integrating ESG into daily operations of enterprises, with a view to assisting SMEs in enhancing their competitiveness and exploring green opportunities. (This seminar will be conducted in Cantonese.)

More Details and Registration

III. Digital Academy – TikTok Hong Kong Authorized Official Partner Agency Presents: Breaking Through & Go Abroad, New Era for Community E-Commerce – TikTok Global Customer Acquisition Strategy (Seminar)

(This seminar will be live-streamed and held at The Mills on 22 March 2024)

This seminar is held by the “SME Centre” of the HKTDC. In this seminar, TikTok’s official collaborative partner is invited to share some Go-Abroad strategies for European, American and Southeast-Asian markets, and the relevant TikTok cross-border marketing skills. At the same time, representatives from the HKTDC will introduce the ‘EXHIBITION+’, a brand-new exhibition model integrating online-and-offline trade show formats, extending face-to-face interactions from its world-class exhibitions in Hong Kong to an online smart business matching platform, with a view to helping enterprises connect business partners proactively. (This seminar will be conducted in Cantonese.)

More Details and Registration (in Chinese only)

IV. SME ReachOut Webinar – Harnessing Innovative Technology and Government Funding for Smart and Green Logistics (Webinar)

(This webinar will be live-streamed on 28 March 2024)

This webinar is held by the “SME ReachOut” of the HKPC. This webinar will share how to make use of government funding schemes and innovative technology solutions for logistics upgrades, including market trends of smart technology for green logistics, and the Pilot Subsidy Scheme for Third-party Logistics Service Providers (TPLSP), the Professional Training on Smart and Green Logistics Scheme (PTSGLS), the Logistics Promotion Funding Scheme (LPFS) and the Technology Voucher Programme (TVP), with a view to assisting SMEs in achieving smart and green logistics and exploring new business opportunities. (This webinar will be conducted in Cantonese.)

More Details and Registration

SUCCESS Activity

2024 Sales Growth Strategies: How to Achieve Double-Digit Revenue Growth Consistently (Seminar)

(This seminar will be held at Trade and Industry Tower on 27 March 2024)

In this seminar, an expert will analyse the five key sources of revenue growth: core business, market share gain, market size growth, adjacent move, and completely new business. The seminar will provide a comprehensive understanding of the latest sales growth strategies, with a view to assisting SMEs in managing all five areas as a whole systematically to improve growth performance. (This seminar will be conducted in Cantonese.)

More Details

SUCCESS-supported Activity

How to Exude Personal Aura and Increase Influence in the Age of AI (Webinar)

(This webinar will be live-streamed on 15 April 2024)

This webinar is organised by the HKPC. SUCCESS is one of the supporting organisations. This webinar will share how to use voice to drive performances to achieve efficient personal expression and appeal, with a view to enhancing one's competitiveness in the workplace. (This webinar will be conducted in Cantonese.)

More Details (in Chinese only)

HKMA e-HKD Pilot Programme Phase 2 opens for applications till 17 May 2024

The Hong Kong Monetary Authority (HKMA) on 14 March 2024 announced the launch of Phase 2 of the e-HKD Pilot Programme, with a view to further exploring innovative use cases for an e-HKD in Hong Kong.

The HKMA completed Phase 1 of the e-HKD Pilot Programme in October 2023 and had studied domestic retail use cases in various areas such as programmable payments, settlement of tokenised assets, and offline payments. Building on the success and experience of Phase 1, the next phase will delve deeper into select pilots from Phase 1 where an e-HKD could add unique value, namely programmability, tokenisation and atomic settlement, as well as explore new use cases that have not been covered in the previous phase.

An enhanced e-HKD sandbox, leveraged on the wholesale central bank digital currency (wCBDC) sandbox to be built under Project Ensemble, will support Phase 2 of the e-HKD Pilot Programme to accelerate the prototyping, development and testing of use cases by pilot participants, as well as facilitate the study of interoperability and interbank settlement between e-HKD and other forms of tokenised money.

Research on the e-HKD will continue to underpin the HKMA’s broader work in exploring the roles central bank digital currencies (CBDCs) could play in a future digital money landscape. The HKMA has been conducting a number of in-depth research projects with the CBDC Expert Group on topics including programmability, privacy and interoperability. The outcomes and insights gained from both phases of the e-HKD Pilot Programme and the researches by the CBDC Expert Group will facilitate the HKMA’s study on the possible implementation of an e-HKD. The HKMA will also continue to engage local and international stakeholders regarding the latest development of CBDCs.

Organisations interested in participating in Phase 2 of the e-HKD Pilot Programme should submit their applications on or before 17 May 2024. Further details about the application process can be found on the HKMA website.

For relevant press release, please visit

Award Scheme for Learning Experiences under Qualifications Framework opens for applications till 31 May 2024

The 2024 Award Scheme for Learning Experiences under the Qualifications Framework (QF) is open for applications from 15 March 2024 until 31 May 2024. Practitioners from 23 industries implementing the QF (see Annex) are welcome to apply.

A spokesman for the Education Bureau said that the Award Scheme aims to encourage practitioners who have excelled themselves in continuous learning to broaden their horizons through engaging in learning activities held locally or around the world. These experiences will enable them to keep abreast of the latest developments of the industry and extend their exposure and networks, thereby realising their personal and career goals. The theme for the 2024 Award Scheme is “Together, go further”. This theme signifies that the Award Scheme not only assists awardees in participating in learning activities worldwide but also supports them in achieving their career aspirations.

Since its inception in 2013, the Award Scheme has attracted more than 2 300 applicants from different industries, over 700 of whom were awarded. Over 60 per cent of the awardees participated in learning activities outside Hong Kong, while approximately 40 per cent engaged in local learning activities. The Award Scheme subsidises practitioners to participate in learning activities and helps reinforce their conviction in lifelong learning. Through continuous learning, they are able to upgrade their knowledge and skills, become lifelong-learning role models for their respective industries, and help promote the QF.

The spokesman added that the learning activities in which practitioners could participate under the Award Scheme include competitions, seminars, sharing sessions, exhibitions and study tours. Awardees engaging in local learning activities would receive an award of $10,000, while those engaging in learning activities outside Hong Kong would receive an award of $30,000.

For details, please visit the website ( and the Facebook page ( of the Award Scheme.

For relevant press release, please visit

Labour Department adjusts and enhances employment services

The Labour Department (LD) on 13 March 2024 announced that, in view of the increasing popularity of online employment services among the general public and to utilise public resources more effectively, the LD will adjust and enhance its employment services starting from 2 April 2024 to meet job seekers’ needs and suit market circumstances.

The LD’s Telephone Employment Service Centre will introduce voicemail service. Members of the public can leave messages and request services by calling the hotlines for job seekers (2969 0888) and employers (2503 3377) outside office hours and following the instructions provided. Staff will follow up and respond as soon as possible within the following working day.

The service hours of the LD’s job centres and industry-based recruitment centres will also be extended from the current 9am to 5.30 pm to 9am to 6.15 pm from Monday to Friday (excluding public holidays). The centres will be closed on Saturdays, Sundays and public holidays, following the five-day week arrangement. Moreover, the Hong Kong West Job Centre on Hong Kong Island and the Tai Po Job Centre in New Territories East will merge with job centres in the nearby districts respectively to provide services to the public. For the addresses and service hours of the job centres, please visit the LD’s Interactive Employment Service (iES) website (

The LD has been providing diversified and free employment services for job seekers. Apart from services provided by job centres and recruitment centres, the LD’s iES website and mobile application provide round-the-clock online employment services and employment information to enable job seekers to search for job vacancies and submit job applications online. Registered job seekers can also call the hotline for job seekers of the Telephone Employment Service Centre to obtain job referrals without having to visit job centres in person for the services.

The LD will continue to review services provided in a timely manner, and implement measures to enhance services in light of the service needs and market situation with a view to enhancing service efficiency.

For relevant press release, please visit

HKMA launches stablecoin issuer sandbox arrangement

HKMA announced on 12 March 2024 the launch of the stablecoin issuer sandbox arrangement.

Tying in with the consultation on the legislative proposal for implementing the regulatory regime for stablecoin issuers, the HKMA wishes to leverage the sandbox arrangement to communicate supervisory expectations to parties interested in issuing fiat-referenced stablecoins in Hong Kong, as well as to obtain feedback from participants on the proposed regulatory requirements.

Applicants should have genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan, and their proposed operations under the sandbox arrangement will be conducted within a limited scope and in a risk-controllable manner. Interested parties should refer to the details of the sandbox arrangement in Annex.

The list of the participants of the sandbox arrangement will be available on the HKMA website and updated in a timely manner.

The Chief Executive of the HKMA, Mr Eddie Yue, said, “The sandbox arrangement serves as an effective channel for the HKMA and the industry to exchange views on the proposed regulatory regime, and will facilitate the formulation of fit-for-purpose and risk-based regulatory requirements, which is key to promoting the sustainable and responsible development of the stablecoin issuance business.”

For relevant press release, please visit

SWD invites applications for IT schemes for persons with disabilities

The Social Welfare Department (SWD) is inviting eligible individuals or organisations to submit applications from 13 March 2024 until 17 April 2024 for the IT Scheme for People with Visual Impairment (7th Round). Eligible individuals may also apply for the Central Fund for Personal Computers (49th Round) during the same period.

The objectives of the IT Scheme for People with Visual Impairment are to support non-profit-making and non-governmental organisations providing services or schooling for people with visual impairment (PVI) as well as tertiary institutions to acquire advanced Chinese screen readers, Braille displays of 40 cells and accessories/portable devices to facilitate PVI’s browsing the Internet, and to subsidise individual PVI with economic difficulties to purchase these devices to meet their needs on studying or employment.

Subsidies will be granted to successful organisational applicants for purchasing high-performance Chinese screen readers (capped at $9,800 per set) and/or Braille displays (capped at $36,000 per set) and/or accessories/portable devices (capped at $66,300 per set) on the reference list under the Scheme. Successful individual applicants will be sponsored to purchase high-performance Chinese screen readers with an amount not more than $9,800 and/or accessories/portable devices not more than $49,600 and/or Braille displays on the same reference list not more than $32,400.

Eligible organisations may lodge their applications by completing the designated forms. For individual applicants, a nomination from subvented non-governmental rehabilitation organisations, the student affairs offices of local tertiary institutions, principals of local secondary/primary schools, or the Selective Placement Division of the LD is required, and the application should be submitted through the nominating organisation in the designated form. Quotations for the devices concerned must be submitted together with the applications. Invitation letters have been sent to the relevant organisations to invite nominations.

The Central Fund for Personal Computers aims to assist eligible persons with disabilities in acquiring the necessary computer facilities for self-employment or receiving supported employment services at home with the guidance and follow-up services provided by the referral rehabilitation organisations or the Selective Placement Division of the LD. Applicants must:

(a) be users of rehabilitation services of and nominated by rehabilitation service organisations or the Selective Placement Division of the LD;
(b) have difficulties in engaging in open employment;
(c) provide a viable business plan which requires the use of computer facilities;
(d) have financial difficulty in acquiring the computer facilities necessary for implementation of the business plan;
(e) be capable of using a computer to carry out the business plan; and
(f) obtain the consent of the nominating organisations or the LD to provide guidance and follow-up services after applicants’ acquisition of the computer facilities.

Details of the above schemes are available on the SWD website ( and ( Information notes and application forms can be downloaded from the websites. For enquiries, please contact the Rehabilitation and Medical Social Services Branch of the SWD at 3586 3594, through email to or by fax to 2834 7046.

For relevant press release, please visit

Guangdong-Hong Kong-Macao Three-Places-One-Lock Scheme officially launched

The Guangdong-Hong Kong-Macao Three-Places-One-Lock Scheme (Scheme) was officially launched on 8 March 2024, with the Secretary for Commerce and Economic Development, Mr Algernon Yau; the Commissioner of Customs and Excise, Ms Louise Ho; the Director General of the Macao Customs Service, Mr Vong Man-chong; and the Deputy Director General of the Guangdong Sub-Administration of the General Administration of Customs of the People's Republic of China, Mr Feng Guoqing, officiating at the launch ceremony held at the DHL Central Asia Hub (CAH). The first batch of transshipment cargo was successfully delivered to the Macao clearance point from DHL CAH via the Hong Kong-Zhuhai-Macao Bridge (HZMB) and the newly constructed Macao Cross-Border Cargo Transfer Terminal in the vicinity of the HZMB Macao Port on 8 March.

Under the Scheme, Guangdong, Hong Kong and Macao Customs conducted real-time monitoring on the batch of transshipment cargo using e-locks and GPS technology, enabling the transportation truck to arrive in Macao directly via the HZMB Hong Kong Port and avoiding duplicate inspections by Customs authorities.

Speaking at the launch ceremony, Mr Yau said he looks forward to the further development of the Scheme to establish more clearance points across the country, and better facilitate the trade in conjunction with Hong Kong's closely knit transportation network covering air, land and sea.

In her speech, Ms Ho expressed her gratitude for the dedicated support and co-ordination of the Customs administrations of Guangdong and Macao, as well as that of the business partners of the industries. She stressed that Hong Kong Customs will leverage its strengths to meet the needs of the country, fully dovetail with national strategies and actively integrate into the overall development of the country.

The Scheme has connected Guangdong, Hong Kong and Macao. The new "green lane", under the speedy development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), also enhances cargo clearance efficiency and unleashes unlimited business opportunities for the logistics industries of the three sides. At the same time, the Scheme facilitates trade and commerce development and consolidates Hong Kong's leading position as an international logistics hub.

To accelerate the development of logistics and trade in the GBA, Guangdong-Hong Kong-Macao Customs have been engaging in close communication and co-operation. In 2016, Guangdong and Hong Kong Customs implemented the Single E-lock Scheme, while the Mainland and Macao Customs launched the Guangdong-Macao Customs Single E-lock Scheme in 2020.

About 100 guests, including representatives of the Customs administrations of the Mainland and Macao, the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, officials of the Government of the HKSAR, members of the Legislative Council (LegCo), representatives of the Airport Authority Hong Kong (AAHK) and members of associations and liaison groups in logistics and transport industries, as well as private stakeholders, attended the launch ceremony.

For relevant press release, please visit

Hong Kong Talent Engage to host regular themed seminars to engage and support arriving talent

Hong Kong Talent Engage (HKTE) will host regular themed seminars from 8 March 2024 to support talent who have arrived in the city to adapt and settle in smoothly.

The first themed seminar was held in HKTE, 12/F, Revenue Tower, Wan Chai, on 8 March afternoon. Speakers from a recruitment agency and an online job platform outlined the trends of the local employment market and demands for outside talent, and shared with incoming talent on job searching tips in Hong Kong.

The recent questionnaire survey on talent admitted via the Top Talent Pass Scheme conducted by the Labour and Welfare Bureau revealed that incoming talent looked for support in areas including job search, accommodation, children's education, starting a business as well as local living and culture. HKTE is committed to providing support services to incoming talent and will host regular themed seminars covering employment, education, settlement, entrepreneurship to help talent arrived integrate into the community.

The Director of HKTE, Mr Anthony Lau, said, "To further strengthen the support for the development and needs of incoming talent, we will provide one-stop assistance and is expanding our network of collaborative partners. We will work closely with service providers catering for daily needs to hold themed events and diverse activities, so as to give full play to HKTE's mission and to show our talent that Hong Kong is a quality and liveable city and attract them to make the move to Hong Kong and settle here."

Talent who have arrived in Hong Kong may obtain event details from the HKTE WeChat and LinkedIn or by contacting HKTE via email (

For relevant press release, please visit

Second Round of Labour Importation Scheme for Transport Sector - Aviation Industry accepts applications from 13 to 26 March 2024

The Labour Importation Scheme for the Transport Sector - Aviation Industry (Scheme) is open for a second round of application from 13 March 2024.

As with the first round of application, importation of labour is allowed for the 10 frontline non-supervisory job types facing the most acute manpower shortages, covering passenger services officers, ramp services agents, cabin workers, aircraft maintenance mechanics/technicians, tractor drivers, warehouse operators/cargo handlers, equipment/loader operators, customer services agents, aircraft tug drivers and maintenance technicians. Applicants of the Scheme must be registered business entities which possess a contract/licence/franchise/passenger handling permit with the AAHK to operate their business at Hong Kong International Airport. Applicants also have to pay the AAHK $400 per month for each worker imported, while the AAHK will contribute an annual lump sum in an amount of the same magnitude as the total amount paid by applicants. The AAHK will make use of the whole of the payments from the applicants and its own contribution for subsidising the transport costs of the local frontline staff responsible for airport operation. It is expected that the relevant transport subsidy will be disbursed starting from the first half of 2024.

The application procedures and operational details of the Scheme are similar to those of the first round of application. Applicants shall submit the completed application form together with other required documents to the AAHK between 13 and 26 March. An interdepartmental liaison group comprising representatives from the Transport and Logistics Bureau (TLB), the LD and the AAHK will consider the applications, and approval decisions will be made by the Permanent Secretary for Transport and Logistics. The approval process will be completed in approximately two weeks from the end of the application period.

The TLB and the AAHK will continue to engage in regular meetings with the stakeholder consultative group to listen to the views of stakeholders, including employers and labour representatives, on the Scheme. Information dissemination will also be enhanced through the consultative group in order to facilitate the smooth implementation and execution of the Scheme.

The application forms and scheme details are uploaded onto the webpage of the TLB ( For enquiries, please contact the AAHK at 2188 6603.

Premised on safeguarding the employment of local labour, the Scheme was introduced in July 2023 to allow the aviation industry to suitably import labour with a view to relieving the acute manpower shortage and supporting the continual recovery of Hong Kong's aviation industry. A total of 2 841 quotas were approved under the first round of the Scheme in August 2023. As of 7 March 2024, around 1 800 visa applications for imported labour have been submitted. More than half of them, about 1 020 imported labour, have arrived to work in Hong Kong.

For relevant press release, please visit

Safeguarding National Security Bill gazetted and introduced into the Legislative Council

The Chief Executive in Council has approved on 7 March 2024 the gazettal on 8 March and the introduction of the Safeguarding National Security Bill (the Bill) into the LegCo, with a view to fully implementing the constitutional duty as stipulated under Article 23 of the Basic Law, the Decision of the National People’s Congress on Establishing and Improving the Legal System and Enforcement Mechanisms for the Hong Kong Special Administrative Region to Safeguard National Security and the Hong Kong National Security Law, in order to ensure the effective safeguarding of national security as early as possible.

It is the constitutional duty of the HKSAR to safeguard national security. Article 23 of the Basic Law stipulates that the "Hong Kong Special Administrative Region shall enact laws on its own to prohibit any act of treason, secession, sedition, subversion against the Central People's Government, or theft of state secrets, to prohibit foreign political organizations or bodies from conducting political activities in the Region, and to prohibit political organizations or bodies of the Region from establishing ties with foreign political organizations or bodies". The Decision of the National People's Congress on Establishing and Improving the Legal System and Enforcement Mechanisms for the Hong Kong Special Administrative Region to Safeguard National Security (5.28 Decision), which was adopted on 28 May 2020, emphasised again that the "HKSAR must complete the national security legislation stipulated in the Basic Law of the HKSAR at an earlier date". Article 7 of the Hong Kong National Security Law also stipulates that the "Hong Kong Special Administrative Region shall complete, as early as possible, legislation for safeguarding national security as stipulated in the Basic Law of the Hong Kong Special Administrative Region and shall refine relevant laws".

The HKSAR Government conducted a public consultation on the Basic Law Article 23 legislation from 30 January to 28 February this year, during which 98.6 per cent of the views received showed support and gave positive comments, indicating that the legislation has a strong popular support. The Security Bureau and the Department of Justice have been steadfastly working at full steam and have completed the drafting of the Bill.

Besides being the constitutional duty of the HKSAR, there is also a genuine and urgent need to legislate for Article 23. The HKSAR has gone through the unbearable and painful experience of having our national security seriously threatened, especially during the Hong Kong version of "colour revolution" and "black-clad violence" in 2019. The geopolitics has become increasingly complex, and national security risks remain imminent. The means taken to endanger national security can come in many different forms and the threat can emerge all of a sudden. Therefore, the HKSAR Government must complete the legislative work as soon as possible to plug the national security loophole. The earlier we complete the legislative work, the sooner we can guard against national security risks.

The Chief Executive, Mr John Lee, said, "To complete the legislative work as soon as possible, I have written to the President of the LegCo, setting forth that the Basic Law Article 23 legislation is the constitutional duty of the entire HKSAR, and hence both the Government and the LegCo have the responsibility and must spare no effort in getting the law enacted as soon as possible. In order to achieve the goal of completing the legislative work as early as possible, I have suggested the LegCo speedily commence the scrutiny of the Bill and consider such means as convening a special LegCo meeting for the First and Second Reading and convening Bills Committee meetings as early as possible, with a view to scrutinising the Bill and completing the legislative process at full speed."

"The HKSAR has to enact the Basic Law Article 23 legislation as soon as possible – the earlier the better. Completing the legislative work even one day earlier means we can more effectively safeguard national security one day earlier. The HKSAR can then focus its efforts on developing the economy, improving people's livelihood and maintaining the long-term prosperity and stability of Hong Kong," Mr Lee continued.

For relevant press release, please visit

Inland Revenue (Amendment) (Tax Concessions and Two-tiered Standard Rates) Bill 2024 gazetted

The Inland Revenue (Amendment) (Tax Concessions and Two-tiered Standard Rates) Bill 2024 was gazetted on 8 March 2024. The Bill seeks to implement the one-off tax concessions and two-tiered standard rates regime as proposed in the 2024-25 Budget, and to give effect to the measure announced in the 2023 Policy Address to increase the deduction ceiling amounts for home loan interest and domestic rents for eligible taxpayers to provide support to families with new born children.

The Budget has proposed one-off reductions of salaries tax, tax under personal assessment and profits tax for the year of assessment 2023/24 by 100 per cent, subject to a ceiling of $3,000 per case. The reductions will be reflected in taxpayers' final tax payable for the year of assessment 2023/24. The proposals will benefit 2.06 million taxpayers chargeable to salaries tax and tax under personal assessment as well as 160 000 tax-paying businesses. The total government revenue forgone in 2024-25 is estimated to amount to about $5,531 million.

The Budget has also proposed implementing a two-tiered standard rates regime for salaries tax and tax under personal assessment starting from the year of assessment 2024/25. In calculating the amount of tax for taxpayers whose net income exceeds $5 million and whose salaries tax or tax under personal assessment is to be charged at a standard rate, the first $5 million of their net income will continue to be subject to the standard rate of 15 per cent, while the portion of their net income exceeding $5 million will be subject to the standard rate of 16 per cent. It is expected that about 12 000 taxpayers will be affected, accounting for 0.6 per cent of the total number of taxpayers chargeable to salaries tax and tax under personal assessment. The government revenue will increase by about $905 million each year.

In addition, the 2023 Policy Address has announced raising the deduction ceiling amounts for home loan interest and domestic rents to provide support to families with new born children. Starting from the year of assessment 2024/25, the deduction ceiling for home loan interest or domestic rents will be raised from $100,000 to $120,000 for eligible taxpayers under salaries tax and tax under personal assessment who are residing with children born on or after 25 October 2023. The additional deduction ceiling amount (i.e. $20,000) can be claimed for a maximum of 19 years of assessment. The proposed measure will reduce government revenue by about $5.6 million in the first year of implementation. The revenue forgone will gradually increase to about $106 million per annum in the 19th year after implementation and beyond.

The Bill is introduced into the LegCo on 20 March.

For relevant press release, please visit

Business registration fees to be adjusted and business registration levy to the Protection of Wages on Insolvency Fund to be waived

The Government served a notice to the LegCo on 6 March 2024 to move a resolution under the Business Registration Ordinance (Cap. 310) (BRO) to increase business registration fees with effect from 1 April 2024. The Government also published in the Gazette on 8 March the Business Registration Ordinance (Amendment of Schedule 2) Order 2024 (BRO Order) to increase branch registration fees and to waive the business registration levy of $150 payable to the Protection of Wages on Insolvency Fund for two years.

The BRO requires every person who carries on a business in Hong Kong to apply for business registration and pay a business registration fee at the prescribed amount within one month from the date of commencement of the business. There are two types of business registration certificate, namely the one-year certificate and the three-year certificate. In view of the fact that business registration fees have remained unchanged for close to 30 years, the 2024-25 Budget has proposed to increase the business registration fees by $200 to $2,200 per annum (i.e. an increase of 10 per cent), with effect from 1 April 2024. In line with the proposed increase in the business registration fees, the branch registration fee, which is payable by each branch of a business that applies for business registration, will also increase by 10 per cent. The current and proposed business registration and branch registration fees are at Annex.

In addition to the business registration fee or branch registration fee, a business operator is required to pay a levy ($150 per annum) in respect of each business or branch registration to finance the Protection of Wages on Insolvency Fund. To relieve the impact of the increase in business registration fees and branch registration fees on businesses, and in view of the stable financial position of the Fund, the 2024-25 Budget has proposed to waive the levy of $150 for two years starting from 1 April 2024. The relevant changes are set out at Annex.

To implement the proposed business registration fees with effect from 1 April 2024, the Secretary for Financial Services and the Treasury will move a resolution pursuant to section 18(1) of the BRO at the LegCo on 27 March. To give full force and effect of law to the resolution before it is passed by the LegCo, the Public Revenue Protection (Business Registration) Order 2024 has been made by the Chief Executive. Moreover, the Financial Secretary has made the BRO Order pursuant to section 18(2) of the BRO to implement the proposed increase in branch registration fees and the two-year waiver of the levy. The BRO Order was published in the Gazette on 8 March and has been tabled at the LegCo for negative vetting on 13 March.

It is estimated that the above proposals of adjusting business registration fees and branch registration fees will increase government revenue by about $295 million per annum.

For relevant press release, please visit

Rating (Exemption) Order 2024 gazetted

The Rating (Exemption) Order 2024 was gazetted on 8 March 2024. The Order seeks to implement the one-off rates concession proposed in the 2024-25 Budget to maintain the economic recovery momentum at the beginning of the financial year.

The Budget has proposed to waive rates for the first quarter of 2024-25, with the concession ceiling of $1,000 per tenement. The proposed rates concession will benefit about 3.51 million properties, leading to revenue forgone of about $3 billion.

The Order has been tabled at the LegCo for negative vetting on 13 March.

For relevant press release, please visit


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.

More Details

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 or visit

Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)

Following the signing of the Investment Promotion and Protection Agreement between Hong Kong and Bahrain, the geographical scope of funding support of the BUD Fund has been extended to Bahrain with effect from 3 March 2024 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 391 .

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 ( or contact the HKPC at 2788 6088.

1Besides the newly added economy of Bahrain, the other 38 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, Türkiye, 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.

More Details (in Chinese only)

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. 

More Details

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