SUCCESS
E-newsletter
14 May 2024
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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: https://www.success.tid.gov.hk/en_landing.html
Our email: success@tid.gov.hk
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 Link" is also established for SMEs to access information and support services provided by the four SMEs centres and government departments from a single online platform.
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.
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 seminar related to “ESG” is listed below. Interested persons are welcome to register at the link shown therein. Admission is Free.
How Can SMEs Implement ESG Effectively (Seminar)
(This seminar will be held at Trade and Industry Tower on 21 May 2024)
This seminar is organised by the SUCCESS of the TID. In this seminar, an expert is invited to share the impact of ESG on corporate value, the leadership role of managers in implementing ESG, and how to measure the effectiveness. The seminar will also analyse the significance of human resources in ESG and provide a framework for promoting ESG, with a view to assisting SMEs in enhancing their competitive edge and developing green opportunities. (This seminar will be conducted in Cantonese.)
More Details and Registration
SUCCESS-supported Activities
I. Turning ESG into New Quality Productive Forces (Seminar)
(This seminar will be held at the CMA Building on 28 May 2024)
This seminar is organised by the Hong Kong Brand Development Council and the Chinese Manufacturers’ Association of Hong Kong (CMA). SUCCESS is one of the supporting organisations. This seminar will interpret the current research on the promotion of ESG by Hong Kong enterprises and gain insight into the challenges that enterprises frequently encounter when formulating or implementing ESG strategies, with a view to assisting enterprises in effectively transforming ESG elements into “new quality productive forces” that drive business growth and create “new quality” values for brands. (This seminar will be conducted in Cantonese.)
More Details (in Chinese only)
II. Improve Employee Happiness and Create a Sustainable and Happy Workplace (Online Course)
(This online course will be live-streamed on 28 May 2024)
This course is offered by the HKPC. SUCCESS is one of the supporting organisations. This online course will share how enterprises can drive employee productivity, creativity, job satisfaction and loyalty. (This course will be conducted in Cantonese.)
More Details (in Chinese only)
The 2nd Guangdong-Hong Kong-Macao Greater Bay Area High-value Trademark Cultivation Competition is now open for application
The 2nd Guangdong-Hong Kong-Macao Greater Bay Area High-value Trademark Cultivation Competition is co-organised by the Guangdong Administration for Market Regulation (Guangdong Intellectual Property Administration), the Intellectual Property Department of the Government of the HKSAR, the Economic and Technological Development Bureau of the Government of the Macao Special Administrative Region and the People’s Government of Dongguan Municipality. The Competition is now open for application until 31 May 2024.
Official website of the Competition (in Chinese only)
Online application (in Chinese only)
Code of Practice in Times of Adverse Weather and “Extreme Conditions”
To ensure the safety of employees and the smooth operation of establishments and maintain good labour-management relations, employers should consult employees and make prior work arrangements for staff during and after tropical cyclone, rainstorm warnings, “extreme conditions” and other adverse weather conditions, including report for duty, release from work, resumption of work and remote work (if applicable), etc.
The Labour Department (LD) publishes the Code of Practice in Times of Adverse Weather and “Extreme Conditions” (COP) and provides reference guidelines for employers to make appropriate work arrangements according to the business nature, operational needs and urgency of service of their establishments. The COP also sets out the statutory liabilities of employers in relevant situations under the labour legislation such as the Employment Ordinance, the Employees’ Compensation Ordinance, the Minimum Wage Ordinance, the Occupational Safety and Health Ordinance and the Factories and Industrial Undertakings Ordinance.
Details on the COP: www.labour.gov.hk/eng/public/wcp/Rainstorm.pdf
HKSARG warmly welcomes expansion of IVS to Taiyuan, Hohhot, Harbin, Lhasa, Lanzhou, Xining, Yinchuan and Urumqi
The Government of the HKSAR warmly welcomed and expressed sincere gratitude to the Central Government for further enhancing the Individual Visit Scheme (IVS) to cover Taiyuan in Shanxi Province, Hohhot in Inner Mongolia Autonomous Region, Harbin in Heilongjiang Province, Lhasa in Tibet Autonomous Region, Lanzhou in Gansu Province, Xining in Qinghai Province, Yinchuan in Ningxia Hui Autonomous Region and Urumqi in Xinjiang Uygur Autonomous Region, in response to the HKSARG's proposal to further expand the IVS to let residents of the eight cities to explore Hong Kong's unique appeals as a tourism destination more flexibly and conveniently. Following the expansion of the IVS to Xi'an in Shaanxi Province and Qingdao in Shandong Province starting from 6 March 2024, the IVS will cover 59 cities, including all provincial capitals in our country." a Government spokesman said on 11 May 2024.
"I wish to express my gratitude towards the Central Government's care for Hong Kong and full wing support to Hong Kong's advancement from stability to prosperity. Subsequent to the various measures rolled out this year for supporting and benefitting Hong Kong, the Central Government responded positively again to the HKSARG's proposal to extend the IVS to cover eight cities, making the applicable cities of IVS to 59 and covering all provincial capital cities. This is a measure with significant importance as this is not only boosting the tourism industry and the economic development of Hong Kong in general, but also facilitating the people-to-people bonds between the Mainland and Hong Kong," the Chief Executive, Mr John Lee, said.
"These eight cities are all provincial capital cities with large population, significant economic growth and high spending power. Further expanding the IVS will boost the economic activities of tourism, retail, catering, hotel and other related industries, bringing in huge benefits while promoting the two-way visits between Hong Kong and different provincial capital cities. We look forward to seeing the closer communication of the people between Hong Kong and the eight cities following the enhancement of IVS." Mr Lee said.
The Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, said, "The Central Government has all along been providing staunch support towards Hong Kong's economy and tourism development. IVS visitors are a major driving force for the development of the tourism-related industries in Hong Kong, amongst others. Further enhancement of the IVS is conducive to the economic development of Hong Kong, benefitting various tourism-related industries such as retail, catering, hotel and accommodation. Various Government departments will step up co-ordination and maintain liaison with relevant organisations and the travel trade to establish and enhance the capacity of direct flights with the eight cities, and at the same time ensure smooth operation of boundary control points, tourist and accommodation facilities as well as public transportation networks to welcome visitors. The Hong Kong Tourism Board (HKTB) will immediately step up promotion work in each city and invite representatives from the trade in relevant cities to come to Hong Kong to participate in promotion activities, co-operating with the travel trade to explore relevant source markets. Hong Kong's capacity to receive visitors has been enhanced in the past few years. The Government is confident in providing more visitors from different source markets with quality travel experiences."
Mr Yeung said that the recovery of Hong Kong's tourism industry was strong in the past year. However, in view of the evolvement of visitors' travel patterns, the travel trade and relevant industries in the HKSAR have to actively adapt to changes, making use of Hong Kong's characteristics to provide visitors with more novel and diversified travel experiences, with high quality service to make them feel at home. The HKSARG will continue to consolidate various sectors in the community to promote warm hospitality through developing novel travel itineraries and products to upgrade the quality of service continuously for achieving "Tourism is everywhere in Hong Kong" to polish Hong Kong's brand as "the best tourism destination".
He continued to say that with the enhancement of the IVS, there would be more frequent contacts between Hong Kong and residents of eight cities which would strengthen people-to-people bonds. Hong Kong has a unique background with cultural integration and rich tourism resources, including theme parks, country parks, natural ecology, hiking trails, history and heritage, beautiful harbour, stunning night view, Eastern and Western cuisines, and uncountable traditional festivals and pop culture activities, to let visitors experience rich and wonderful metropolitan glamour throughout different periods over the year. Just between the period from May to June, Hong Kong has a series of mega events, from Cheung Chau Bun Festival, Celebration Carnival for Buddha's Birthday, French May, Chinese Culture Festival and Hong Kong International Dragon Boat Races, etc, as well as large-scale concerts to be held at the Central Harbourfront Event Space. We look forward to welcoming more visitors from different cities to come to explore Hong Kong in depth.
To introduce Hong Kong's tourist attractions and activities to visitors, the HKTB has consolidated a series of itinerary guides and provided information on different activities on its website DiscoverHongKong.com to facilitate visitors to plan for their itineraries in Hong Kong.
Under the IVS, which was implemented on 28 July 2003, in accordance with the main document of the Mainland and Hong Kong Closer Economic Partnership Arrangement, eligible residents of the designated Mainland cities can apply for an endorsement to visit Hong Kong in their individual capacity. The IVS was first introduced in four Guangdong cities (namely Dongguan, Zhongshan, Jiangmen, Foshan) and the number of eligible cities was gradually increased in the following years to a total of 51 Mainland cities in March 2024. With the expansion of the IVS to cover Taiyuan, Hohhot, Harbin, Lhasa, Lanzhou, Xining, Yinchuan and Urumqi starting from 27 May 2024, designated Mainland cities eligible for the IVS will be increased to 59.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/11/P2024051100366.htm?fontSize=1.
DH signs Co-operation Agreement on Research of Chinese Medicines Standards and on Chinese Medicines Herbarium with National Institutes for Food and Drug Control of National Medical Products Administration
The Department of Health (DH) and National Institutes for Food and Drug Control (NIFDC) on 9 May 2024 signed the Co-operation Agreement on Research of Chinese Medicines Standards and on Chinese Medicines Herbarium (Co-operation Agreement) to strengthen technical, talent and academic exchanges, and further promote the modernisation and innovation of Chinese medicines. NIFDC is a subsidiary of the National Medical Products Administration (NMPA).
Witnessed by the Commissioner of the NMPA, Mr Li Li, the Co-operation Agreement was signed by the Director of Health, Dr Ronald Lam, and the Director General of the NIFDC, Mr An Fudong. The areas of collaboration include technical exchanges in the area of developing standards for Chinese Materia Medica (CMM), establishment of collaborative mechanisms in field of Chinese medicines specimens, as well as talent and academic exchanges. The Co-operation Agreement also further facilitates the modernisation and innovation of Chinese medicines, enhances the quality and safety of Chinese medicines with a view to safeguarding public health.
Following the signing of the Co-operation Agreement, Mr Li, on behalf of the NMPA, presented to the Government of the HKSAR a collection of 21 CMM specimens. Among them was a set of cordyceps showcasing different growth stages and specimens from various production regions of the Mainland. This will play a significant role in strengthening the identification of CMM.
Speaking at the signing ceremony, Dr Lam said, "Thank you for the continuous support to the HKSAR Government for the development of Chinese medicine and enhancing the collaboration on regulatory strategies and measures with the DH by the NMPA and NIFDC. Today (9 May 2024), I would like to express my gratitude to the NMPA and NIFDC for once again gifting precious CMM specimens to the HKSAR Government, which is very important for our work in Chinese medicine testing, research, education, as well as the inheritance and innovation of Chinese medicine culture."
Mr Li, Mr An and their delegation, accompanied by Dr Lam, visited the Government Chinese Medicines Testing Institute (GCMTI) managed by the DH and located at the Hong Kong Science Park on the same day. They were briefed on the latest work on local Chinese medicines testing and research through touring the GCMTI's laboratories and the Chinese Medicines Herbarium. The Digital Herbarium for Chinese Medicines website developed by the GCMTI was also demonstrated to the delegation during their tour.
The DH has been closely collaborating with the NMPA and the NIFDC, actively promoting exchanges in Chinese medicines testing, reference standard research, and the Chinese Medicines Herbarium. The NMPA and the NIFDC offered technical advice and valuable opinions to the Chinese Medicines Herbarium in the GCMTI when it was established in 2017. They also arranged to gift precious and representative specimens of commonly used CMM to the HKSAR Government to enhance the collection of the Chinese Medicines Herbarium. These physical specimens will serve as useful references for the Chinese medicines research and industry in Hong Kong, facilitating their advancement towards high-quality development. The first batch of the specimens has been on display at the GCMTI since 2019. Furthermore, since its establishment, the GCMTI has completed 12 research and thematic projects, the results of which have been uploaded to the website of the Chinese Medicine Regulatory Office under the DH.
The permanent GCMTI building is expected to be commissioned in phases starting from the end of 2025. It will house a Chinese Medicines Herbarium Laboratory to collect CMM and the specimens of the animals and plants from which they derived. The herbarium will be open to the public, the trade and international research institutions. The GCMTI will continue to develop a set of internationally recognised reference standards for Chinese medicines and related products by employing state-of-the-art technology and through scientific research, and help empower the industry through transfers of technology to strengthen the quality control of products and promote high-quality development of Chinese medicines.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/09/P2024050900283.htm?fontSize=1.
Promulgation of revised Code of Practice for Employment Agencies
The LD promulgated on 9 May 2024 a revised Code of Practice for Employment Agencies (CoP), superseding the CoP promulgated on 9 February 2018.
In accordance with the Employment Ordinance (EO), the Commissioner for Labour may issue codes of practice setting out the principles, procedures, guidelines and standards for the operation, management or control of employment agencies (EAs). In response to the concerns of the public about the services of EAs in recent years and the views collected during public consultation, the revised CoP introduces additional standards expected by the Commissioner that should be met by EAs.
"The newly introduced standards mainly include requiring EAs to, when making an application for a licence and renewal of a licence, inform the LD of whether they are associated with any financial institution; and stipulating that EAs should not provide job seekers with information relating to personal loans and should not withhold job seekers' employment contracts to force them to pay or repay any sum of money. To address the suspected abuse of premature termination of employment contracts by foreign domestic helpers (FDHs) seeking to change employers, the revised CoP requires EAs to clearly brief FDH job seekers on the relevant immigration regulations, and not to adopt business practices such as providing monetary incentives to FDHs in employ to induce them to prematurely terminate their employment contracts," a spokesman for the LD said.
"To further protect the interests of FDH employers as consumers, the revised CoP requires EAs to include, in service agreements signed with FDH employers, the amount of fee set for each service category, and clearly state whether a refund or arrangement for a replacement FDH will be provided where their services are not delivered in full, or the employment contract has been prematurely terminated by the FDH within the two-year contract period. Pursuant to the revised CoP, EAs are required to provide the LD with information relating to temporary accommodation provided for FDH job seekers and ensure their compliance with the relevant requirements. EAs also should not publicly post, display or disclose the sensitive personal data of job seekers and related individuals."
The spokesman reminded EAs of the need to operate in accordance with the requirements of the CoP. Under the EO, the Commissioner may refuse to issue or renew, or revoke an EA licence if its licensee or person intending to be the licensee, the related persons of, or persons employed by the licensee or the person intending to be the licensee fail(s) to comply with the CoP.
The CoP is available for public inspection for free during office hours at the office of the Employment Agencies Administration of the LD (Address: Unit 906, 9/F, One Mong Kok Road Commercial Centre, 1 Mong Kok Road, Kowloon). It may also be downloaded from the Employment Agencies Portal (www.eaa.labour.gov.hk).
For enquiries on the CoP, please contact the Employment Agencies Administration of the LD at 2115 3665.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/09/P2024050700457.htm?fontSize=1.
LD expands Pilot Rehabilitation Programme for Employees Injured at Work
The LD increased the industry coverage of the Pilot Rehabilitation Programme for Employees Injured at Work (Pilot Programme) on 9 May 2024. Apart from covering the original construction industry, it has now been expanded to the catering and hotel industry and the transportation and logistics industry with a view to assisting more injured employees in these industries to recover and return to work early.
The three-year Pilot Programme was rolled out in September 2022, adopting a case-management approach to provide prompt and co-ordinated private outpatient rehabilitation treatment services to participating injured employees. The rehabilitation services provided include medical treatment (provided by general practitioners/family physicians, orthopaedic doctors or occupational physicians), physiotherapy, occupational therapy and imaging examination services. Each participant will have a case manager to follow up on rehabilitation treatment and assist with return-to–work arrangements.
An LD spokesman said, "Expanding the Pilot Programme will benefit more injured employees. Funded by the Government, participants only need to pay the same fees as public hospital services for receiving private rehabilitation treatment services. With the waiting time for services saved, participants can benefit from timely treatments. The early recovery and return-to-work of employees can also help maintain the productivity of employers."
Injured employees meeting the following criteria can participate in the Pilot Programme:
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they were engaged in the construction industry, catering and hotel industry or transportation and logistics industry* at the time of the work injury;
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they sustained a musculoskeletal injury as a result of the work injury or contracted a musculoskeletal occupational disease prescribed under the Employees' Compensation Ordinance (ECO); and
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they have been, or are expected to be, absent from work for six weeks or more because of the work injury.
(*The work injuries of employees of the catering and hotel industry and transportation and logistics industry happened on or after 1 April 2024.)
The rehabilitation treatment, case management and return-to-work facilitation services under the Pilot Programme are provided by Actmax Limited, a subsidiary of Human Health Holdings Limited, engaged by the Government. The organisation has established the Work Injury Rehabilitation Office (WIRO) to implement the Pilot Programme in collaboration with its strategic partner, CUHK Medical Centre, under the supervision of the LD.
The LD and WIRO will, based on the reported work injury cases, preliminarily identify suitable injured employees and contact them to introduce the Pilot Programme. Injured employees must undergo a clinical assessment by a case doctor to ascertain that their injuries are suitable for treatment under the Pilot Programme.
The spokesman reminded that employers should comply with the requirement of the ECO on the reporting of work injury cases to the LD as soon as possible so that eligible injured employees can join the Pilot Programme early and receive rehabilitation treatment.
For details of the Pilot Programme, please visit the dedicated webpage of the WIRO (www.prp-wiro.gov.hk) or call 2293 7000.
For relevant press releases, please visit https://www.info.gov.hk/gia/general/202405/09/P2024050600263.htm?fontSize=1 and https://www.info.gov.hk/gia/general/202405/12/P2024051000579.htm?fontSize=1.
Applications for funding from Elder Academy Development Foundation invited till 31 May 2024
The Committee on Elder Academy Development Foundation (EADF) is inviting a new round of funding applications from school-sponsoring bodies of primary and secondary schools as well as post-secondary institutions interested in setting up elder academies (EAs) and organisations interested in organising activities that encourage elderly learning and inter-generational harmony. Applications should reach the Secretariat of the Committee on the EADF by 31 May 2024.
The Elder Academy Scheme aims to promote continuous learning for elderly people, active ageing and inter-generational harmony. The EADF mainly provides funding for primary and secondary schools as well as post-secondary institutions to set up EAs to provide learning opportunities in a school setting for the elderly. Funding is also provided for activities that encourage elderly learning and inter-generational harmony.
Each approved EA in a primary or secondary school will be provided with funding of $122,000 for implementing a three-year programme. EAs which completed the first three-year programme may apply for funding of $60,000 for running a two-year programme.
As regards applications for organising EA courses in post-secondary institutions or other applications, the Committee on EADF will assess and decide the funding amount according to the merits of individual proposals.
Details of the funding applications can be downloaded from the website of the EA Scheme (www.elderacademy.org.hk). For enquiries, please contact the Secretariat of the Committee on EADF (Tel: 3655 5861/3655 5007; email: ea@lwb.gov.hk).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/07/P2024050700201.htm.
CFS briefs industry representatives on Advance Release Arrangement for Hong Kong-manufactured food products entering Mainland market
A spokesman for the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department (FEHD) stated on 7 May 2024 that the new measure of the Cooperation Agreement on the Supervision of Safety and Facilitation of Customs Clearance of Food Products Manufactured in Hong Kong Exported to the Mainland will commence on 21 May 2024. Upon meeting specific requirements, Hong Kong-manufactured food products with satisfactory on-site inspection of the Mainland Customs that are still required to go through sampling and testing can be released upon completion of sampling without waiting for the results.
The Environment and Ecology Bureau of the HKSAR Government and the General Administration of Customs of the People's Republic of China (GACC) signed the Cooperation Agreement on 27 November 2023. This agreement provides a facilitating arrangement for customs clearance for food products that meet relevant requirements, with the aim of shortening the time required for customs clearance, further enhancing the safety of local food products exported to the Mainland, facilitating trade, and promoting the development of the local food manufacturing industry. The CFS and the GACC have formulated the operational details of the Cooperation Agreement, such as the food testing requirements. The CFS will conduct special supervision on Hong Kong-manufactured food products exported to the Mainland to ensure compliance with relevant Mainland laws, regulations, and standards in food safety.
"The Cooperation Agreement will aid the monitoring of food safety from the source for Hong Kong-manufactured food products exported to the Mainland, thus achieving the goal of customs clearance facilitation. Not only will this promote food trade between the Mainland and Hong Kong, particularly in the Greater Bay Area, but it will also deepen exchanges and co-operation in food safety monitoring between the Mainland and Hong Kong, fully implementing the Mainland and Hong Kong Closer Economic Partnership Arrangement and the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. The smooth implementation of the new measure, the Advance Release Arrangement, is the result of joint efforts between the Government and the trade. The CFS has arranged briefings on details of the new measure for the local food trade," the spokesman said.
The Advance Release Arrangement will initially cover three major categories of food, namely (1) beverages and frozen drinks (excluding alcoholic and dairy beverages); (2) biscuits, pastries and bread; and (3) candies and chocolates (including chocolate, cocoa butter substitute chocolate and their products). The arrangement will be available at the ports under Shenzhen Customs and Gongbei Customs. According to the Census and Statistics Department, the export volume to the Mainland of relevant categories of domestic food products in 2023 was over 51.7 million kilograms with the value of approximately $2.84 billion, which accounted for approximately 56 per cent of the total value of all Hong Kong-manufactured food exports to the Mainland in the same year and about 11 per cent of the total value of all domestic goods exported to the Mainland.
Under the new measure, a local food manufacturer who wishes to participate needs to apply with the CFS for the Advance Release Permission. After assessing the eligibility of the manufacturer, the CFS will grant an Advance Release Permission to the eligible food manufacturers. Relevant requirements include: the food manufacturer holds a valid food factory licence issued by the FEHD; food products must be manufactured in the food factory specified in the licence; a food safety management system with relevant certification (that is ISO 22000 or HACCP certification) is in place in the food factory concerned; the national standards and laws of Mainland China must be complied with. The food manufacturer should then apply with the CFS for a Health Certificate for Foods of Animal Origin or a Food Inspection Certificate for each consignment of food products exported to the Mainland. Furthermore, each consignment of food products must be accompanied by a Certificate of Hong Kong Origin - CEPA.
Details of the new measure, including the application form and relevant guidelines, have been uploaded to the CFS website (www.cfs.gov.hk). The CFS will continue to maintain close communication with the trade and provide appropriate support.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/07/P2024050700261.htm?fontSize=1.
Hong Kong Monetary Authority welcomes pilot launch of Shenzhen-Hong Kong cross-boundary data validation platform
The Shenzhen and Hong Kong authorities announced on 6 May 2024 the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform. The platform utilises blockchain technology and data coding (i.e. hash values) for document verification without involving any cross-boundary transfer or storage of the original documents. The platform provides a credible means for validating the authenticity of the documents presented by the data owners.
The Hong Kong Monetary Authority (HKMA) has been working closely with Mainland authorities in facilitating the development of fintech innovation and cross-boundary data flow in both Guangdong and Hong Kong. All stakeholders are supportive of fintech adoption by financial institutions to promote cross-boundary data usage in an orderly and secure manner and in compliance with relevant regulatory requirements.
In recent months, the HKMA co-ordinated and facilitated the development and testing of the Shenzhen-Hong Kong cross-boundary data validation platform (Note) together with the Shenzhen Municipal Cyberspace Administration, the Hong Kong and Macao Affairs Office of the Shenzhen Municipal People's Government, Shenzhen Municipal Financial Regulatory Bureau, the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality, the Shenzhen Branch of the People's Bank of China, the Shenzhen Regulatory Bureau of National Financial Regulatory Administration.
During the first phase of implementation of the platform, pilot trials will be conducted with cross-boundary use cases in the financial sector, covering validation of credit referencing reports as well as account opening documents for corporate customers.
The HKMA will continue to work closely with the Mainland authorities, facilitating more banks to conduct pilot trials involving cross-boundary data validation in Shenzhen and Hong Kong, and enhancing industry engagement through the HKMA's Fintech Supervisory Sandbox, with a view to promoting safe cross-boundary data flow, and enhancing banks' operational efficiency and risk management.
Note: The platform is operated by China (Qianhai) Internet Exchange, Shenzhen Smart City and the Hong Kong Science and Technology Parks Corporation in Shenzhen and Hong Kong respectively, while WeBank Co., Ltd. provides research and technical support.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/06/P2024042500422.htm?fontSize=1.
Film Financing Scheme for Mainland Market opens for application
The Film Financing Scheme for Mainland Market under the Film Development Fund is open for application from 6 May 2024. The Scheme aims to support Hong Kong film companies and the Mainland cultural enterprises to invest in and promote the productions of Hong Kong directors. This will help boost the chance of Hong Kong films for release in the Mainland market and nurture more Hong Kong directors to enter the Mainland film market. The Hong Kong Film Development Council (FDC) and Create Hong Kong held a press conference on 20 April and introduced the Scheme at the 14th Beijing International Film Festival in Beijing.
The Chairman of the FDC, Dr Wilfred Wong, said, "The Mainland film market is huge and has a broad audience base. We anticipate the new Scheme could foster exchanges between the talent of the two places with a view to bringing more outstanding film productions to audiences from Hong Kong and the Mainland and promoting the collaboration between Hong Kong film industry and the Mainland."
The Scheme is open for application throughout the year. The production budgets of the film projects must be between HK$25 million and HK$150 million. Approved film projects must be theatrically released in Hong Kong and if they are successfully released in the Mainland cinemas, they will receive a government finance of HK$10 million. If the film project ultimately fails to be released in the Mainland cinemas or streaming platforms, the amount of government finance will be reduced correspondingly.
Details of the Scheme and the application form are available on the website of the FDC (www.fdc.gov.hk/en/ffsmm).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/06/P2024050600206.htm.
HKMA announces details on extending Green and Sustainable Finance Grant Scheme and expanding subsidy scope to cover transition finance instruments
The HKMA released on 3 May 2024 the details on the extension of the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2024-25 Budget.
Launched in May 2021, the GSF Grant Scheme provides subsidy for eligible green and sustainable debt issuance in Hong Kong. The Financial Secretary proposed in the 2024-25 Budget to extend the GSF Grant Scheme by three years to 2027, and expand the scope of subsidies to cover transition bonds and loans with a view to encouraging relevant industries in the region to make use of Hong Kong's transition financing platform as they move towards decarbonisation.
Following industry consultation, the HKMA has updated the guideline on the GSF Grant Scheme (updated Guideline), which will be effective upon the extension of the scheme on 10 May 2024.
The Chief Executive of the HKMA, Mr Eddie Yue, said, "Hong Kong is a leading green finance centre in Asia, intermediating more than one-third of the region's international green and sustainable bonds in recent years. The GSF Grant Scheme has helped foster the adoption of sustainable finance, enrich the local ecosystem, and promote good market practice. The extension of the scheme, with an expanded scope to cover transition finance instruments, reaffirms Hong Kong's commitment to supporting the region's increasing efforts to tackle climate challenge through transition activities and financing."
The HKMA will continue to administer the GSF Grant Scheme, and keep in view market developments and industry feedback. The design of the GSF Grant Scheme, such as eligibility criteria, eligible expenses, grant amounts and application process, may be adjusted from time to time as needed.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/03/P2024050300520.htm.
Gazettal of subsidiary legislation on risk-based capital regime and insurance intermediary fees
Government conducts trade consultation on Development Blueprint for Hong Kong's Tourism Industry 2.0 till 14 June 2024
The Tourism Commission of the Culture, Sports and Tourism Bureau held a consultation session on the formulation of the Development Blueprint for Hong Kong's Tourism Industry 2.0 (Blueprint 2.0) in the Central Government Offices on 2 May 2024 for trade representatives to express views.
The Government promulgated the Development Blueprint for Hong Kong's Tourism Industry (Blueprint) in October 2017, setting out vision, goals and four long-term development strategies for the tourism industry in Hong Kong and proposing short, medium and long-term measures. As tourism is one of the main driving forces of Hong Kong's economy, the Chief Executive announced in the 2023 Policy Address that the Government will update the Blueprint and formulate corresponding future work plans, specific actions, measures, and performance indicators to formulate Blueprint 2.0, in a bid to further drive the development of the local tourism industry in collaboration with different industries.
The Government has launched a trade consultation for Blueprint 2.0, which will end on 14 June. During the consultation period, the Government will invite representatives of the travel trade, related organisations and stakeholders to offer views on Blueprint 2.0 through meetings or in writing. The Tourism Commission also welcomes views from stakeholders on or before 14 June by email (tourismblueprint@cstb.gov.hk), fax (3848 4127) or post (11/F, Harbour East, 218 Electric Road, Fortress Hill, Hong Kong).
The Government targets to publish Blueprint 2.0 in 2024, outlining the goals and key directions for further enhancing tourism development as well as fostering collaboration of different industries to enhance the speed and quality of the development of Hong Kong's tourism industry.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/02/P2024050200331.htm.
LD launches revised "Guidance Notes on Prevention of Heat Stroke at Work" and Heat Stress at Work Warning
The LD launched the revised "Guidance Notes on Prevention of Heat Stroke at Work" (GN) and introduced the optimised Heat Stress at Work Warning (HSWW) system on 2 May 2024 to assist employers and employees in taking appropriate measures to prevent heat stroke when working under hot weather or in high-temperature environments.
A spokesman for the LD said, "In response to the views of stakeholders following the issuance of the GN by the LD in May 2023, the LD has suitably enhanced parts of the GN to enable employers and employees to have a better understanding of its principles and recommendations and to help them implement preventive measures against heat stroke effectively."
In addition, the LD, with the assistance of the Hong Kong Observatory (HKO), has adjusted the cancellation mechanism of the HSWW to minimise the possibility of the warning being reissued within a short period of time after it is cancelled. At the same time, the LD will make reference to the HKO's Extremely Hot special weather tips in the issue, renewal or cancellation of the HSWW. If the HKO issues the Extremely Hot special weather tips, the LD will issue an Amber HSWW even if the Hong Kong Heat Index has not reached the level for issuing the HSWW.
Members of the public can receive notifications of the HSWW via the "GovHK Notifications" or "MyObservatory" mobile applications. The warning message will also be disseminated through government press release, HKO's webpage and the mass media.
For details of the revised GN and HSWW, please refer to the LD's webpage (www.labour.gov.hk/eng/news/prevention_of_heat_stroke_at_work.htm) or the Occupational Safety and Health Council's dedicated webpage (www.noheatstress.hk). For enquiries, please call the LD's hotline at 2559 2297 or 2852 4041.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/02/P2024050200343.htm.
Inland Revenue Department issues tax returns for individuals
The Inland Revenue Department (IRD) sent out about 2.44 million tax returns for individuals for the year of assessment 2023/24 on 2 May 2024. The department reminded taxpayers to file their tax returns on time. The filing deadline for general cases is one month (by 3 June) while for sole proprietors of unincorporated businesses, a three-month period is allowed (by 2 August). Those filing via eTAX will be automatically granted a one-month extension (i.e. the deadline for general cases is 3 July and for sole proprietors is 2 September).
The Commissioner of Inland Revenue, Mr Tam Tai-pang, hosted a press conference on the completion of tax returns for individuals for the year of assessment 2023/24 and the tax collection of 2023-24, and also introduced new features of e-filing of profits tax returns on 2 May 2024.
Mr Tam referred to two tax measures proposed in the 2024-25 Budget, that is, the reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2023/24 by 100 per cent, subject to a ceiling of $3,000 per case, and implementing a two-tiered standard rates regime for salaries tax and tax under personal assessment starting from the year of assessment 2024/25.
In addition, the 2023 Policy Address announced that the deduction ceiling amounts for home loan interest and domestic rents will be raised for taxpayers who reside with their newborn 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 of salaries tax and tax under personal assessment who are residing with children born on or after 25 October 2023.
The bill for implementing the above three tax measures is being scrutinised by the Legislative Council. Taxpayers only need to complete the tax returns for the year of assessment 2023/24 as usual. With the passage of the relevant legislation, the proposed tax reduction will be reflected in their assessments. In calculating the provisional salaries tax for the year of assessment 2024/25, the department will determine the amounts of home loan interest and domestic rents to be allowed based on the information provided by eligible taxpayers, and apply the two-tiered standard rates as appropriate.
Mr Tam also briefly introduced another tax measure proposed in the 2023 Policy Address. Starting from the year of assessment 2024/25, a deduction for expenses on assisted reproductive services will be provided under salaries tax and tax under personal assessment, subject to a ceiling of $100,000 per year. The Government will start the legislative process to give effect to the proposal.
The IRD encouraged taxpayers to file their tax returns through eTAX, which offers an easy, secure and environmentally friendly online service for filing tax returns and ensures tax returns are filed in a timely manner to the department. "iAM Smart+" users may also sign and submit electronic tax returns online with the digital signing function.
The department also reminded taxpayers to pay sufficient postage if they choose to send the returns by post.
Taxpayers may visit the department's website (www.ird.gov.hk/eng/tax/esem_ctr.htm) to read information under "e-Seminars" if they have questions on completing their tax returns. They may also file questions in the "Q&A Corner". From 2 May to 3 June 2024, except on Sundays and public holidays, the department will deploy additional staff to answer the telephone enquiries hotline 187 8022 and extend the service hours up to 7pm on weekdays, and from 9am to 1pm on Saturdays.
In 2023, the department launched a new model of e-filing of profits tax returns to allow corporations and businesses to e-file the returns under eTAX together with supporting documents, including financial statements and profits tax computation. The department pointed out that the enhanced version of e-filing of profits tax returns under eTAX was launched in April 2024 to strengthen and update its functionality. Details of e-filing of profits tax returns can be found on the department's website (www.ird.gov.hk/eng/tax/bus_epf.htm and www.ird.gov.hk/eng/tax/bus_ixbrl.htm).
In addition, Mr Tam alerted taxpayers to fraudulent emails purportedly issued by the department. He said that the department will only inform taxpayers to log in to their eTAX Accounts to enquire tax positions with a designated email address (e_alert@ird.gov.hk), and will not include hyperlinks in emails requesting taxpayers to provide their personal, bank account or credit card information. Taxpayers should stay alert and not open any suspicious emails.
On revenue collection, Mr Tam said that $342 billion of tax revenue was collected by the department during the financial year 2023-24 (please see Annex 1 for details), a decrease of $18.2 billion compared with the previous year's figure.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/02/P2024050200225.htm.
Public consultation on proposed amendments to Private Columbaria Ordinance (Cap. 630) till 2 June 2024
The Government launched a public consultation on the proposed amendments to the Private Columbaria Ordinance (Cap. 630) on 2 May 2024. Members of the public are welcome to offer their views.
Coming into effect on 30 June 2017, the Ordinance has established a licensing regime in order to regulate private columbaria, ensure their compliance with statutory and government requirements, enhance protection of consumer interests, and foster adoption of a sustainable mode of operation by the industry. Matters relating to the operation of private columbaria that have been in operation and with ashes interred in their niches before the Government's initial announcement of its proposal to establish a licensing regime (i.e. pre-cut-off columbaria) are handled through a pragmatic and sensitive approach. The Government has reviewed the Ordinance in the light of operational experiences. It proposes to amend certain provisions of the Ordinance and enhance the implementation details to achieve more effective execution of the regulatory regime on private columbaria.
Major proposed amendments under consultation include:
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Offering the option of applying for exemption to pre-cut-off columbaria that fulfils the relevant eligibility requirements and conditions, so that if their licence applications are eventually refused, they may continue to operate at their current confined scale if they opt to apply and are subsequently granted with an exemption, thereby averting massive displacement of interred ashes and minimising losses of the purchasers of niches;
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Increasing the penalty for non-compliance with enforcement notices to enhance deterrence against violations;
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Introducing a new offence to criminalise certain violations, including the sale of interment rights exceeding the ash interment capacity, the sale or leasing of unapproved niches, and the sale of interment rights when authorisation to sell interment rights has been revoked or suspended;
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Specifying the conditions to be met for the Private Columbaria Appeal Board to consider new evidence submitted by appellants; and
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Stipulating that the Ordinance is not applicable to registered masons meeting specified conditions.
The Government spokesman said, "The Government handles pre-cut-off columbaria with a pragmatic and sensitive approach, with a view to rectifying violations that existed before the establishment of the licensing regime, while avoiding the social disruption arising from massive displacement of interred ashes or the inability to inter ashes in the niches purchased in advance by deceased persons upon the closing down of such private columbaria. To balance the general public's interest, the legislative review also fully takes into account the impact of pre-cut-off columbaria on the nearby traffic, the environment and the neighbourhood in general, as well as existing town planning procedures. The Government briefed the Legislative Council Panel on Food Safety and Environmental Hygiene on the direction of the legislative amendment proposals in February 2024. The public consultation is to invite views from different sectors of society to enhance the regulatory regime on private columbaria."
The consultation paper has been uploaded to the website of the Food and Environmental Hygiene Department (www.fehd.gov.hk/english/public_consultation/pco2024.html). A Feedback Form is provided in the annex of the consultation paper. Members of the public may send their views by post (addressed to Private Columbaria Affairs Office of the Food and Environmental Hygiene Department, P.O. Box 80011, Cheung Sha Wan Post Office), fax (2827 2908), or email (pco_review@fehd.gov.hk) from 2 May till 2 June 2024.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202405/02/P2024050200213.htm.
Chief Executive in Council accepts recommendations on enhancing review mechanism of Statutory Minimum Wage
The Chief Executive in Council has accepted the recommendations of the Minimum Wage Commission (MWC) on enhancing the review mechanism of the Statutory Minimum Wage (SMW). The recommendations include reviewing the SMW rate once a year (Annual Review), adopting a formula for implementing the Annual Review and reviewing the aforesaid new review mechanism five to 10 years after its implementation.
After extensive consultations and making reference to experience in reviewing the SMW rate, the MWC recommended implementing the Annual Review, which would allow closer alignment of the SMW rate with socio-economic changes and safeguard the income of grassroots employees more effectively.
The formula proposed by the MWC comprises two indicators, namely inflation and the Economic Growth factor. The former ensures that the rate of adjustment in the SMW will not fall below the headline Consumer Price Index (A) inflation, so as to maintain the purchasing power of the SMW and safeguard the employment income of grassroots employees. The Economic Growth factor enables the rate of increase in the SMW to be suitably higher than inflation when the Hong Kong economy performs well (i.e. economic growth in the latest year is higher than the trend growth in the latest decade).
The Secretary for Labour and Welfare, Mr Chris Sun, said he is very pleased with the MWC's accomplishment in the historic and challenging mission of studying enhancements to the review mechanism of the SMW. He paid warm tribute to the Chairperson of the MWC, Ms Priscilla Wong, for her exemplary leadership and all MWC members for their untiring efforts and sterling contributions.
Mr Sun said, "Having carefully considered the MWC's study report, the Government is of the view that the MWC has ably discharged its function. The recommendations of the MWC have struck an appropriate balance between the objectives of forestalling excessively low wages and minimising the loss of low-paid jobs, while giving due regard to sustaining Hong Kong's economic growth and competitiveness. The Government agrees that the adoption of a formula for adjusting the SMW rate will enhance predictability and transparency, thereby reducing the contention of the community over the rate of each SMW adjustment, and helping foster harmonious labour relations. The Government also believes that the new review mechanism is in line with the overall interests of Hong Kong."
The first SMW rate derived under the new review mechanism will take effect on 1 May 2026. The Government will thrash out the arrangements for implementing the new review mechanism and announce them in due course. Moreover, in accordance with the requirements of the Minimum Wage Ordinance (Cap. 608), the Chief Executive will require the MWC to submit the next recommendation report on the SMW rate on or before 31 October 2024. The next SMW rate recommended by the MWC will take effect on 1 May 2025.
In January 2023, the Chief Executive tasked the MWC to study how to enhance the review mechanism of the SMW, including the review cycle, how to improve efficiency, and balancing a host of factors such as the minimum wage level and sustained economic development. The MWC submitted the Study Report on Enhancing the Review Mechanism of the Statutory Minimum Wage to the Government on 31 October 2023. The Report has been uploaded to the MWC website (www.mwc.org.hk).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202404/30/P2024043000265.htm.
Gazettal of Inland Revenue Ordinance (Amendment of Schedule 17E) Notice 2024
The Government is amending the lists of jurisdictions on automatic exchange of financial account information in tax matters (AEOI) under the Inland Revenue Ordinance. The Inland Revenue Ordinance (Amendment of Schedule 17E) Notice 2024 was gazetted on 3 May and will be tabled at the Legislative Council for negative vetting on 8 May 2024.
Hong Kong has since September 2018 conducted AEOI with other jurisdictions as advocated by the Organisation for Economic Co-operation and Development (OECD). This international tax co-operation initiative seeks to enhance tax transparency and combat cross-border tax evasion. Currently, there are 100 "participating jurisdictions" under the Inland Revenue Ordinance. The list of "participating jurisdictions" was put in place in accordance with the "transitional approach" adopted by the OECD at the early stage of AEOI implementation. It includes all jurisdictions which had committed to adopting AEOI by 2018.
As the OECD considers that the transitional period has expired, in its latest review of Hong Kong's AEOI legal framework, the OECD recommended that the list of "participating jurisdictions" should only include jurisdictions which have activated exchange relationships for AEOI with Hong Kong. The amendment notice mainly seeks to remove nine jurisdictions from the list of "participating jurisdictions" which have yet to activate exchange relationships for AEOI with Hong Kong, namely Bahrain, Belize, Marshall Islands, Montserrat, Nauru, Niue, Saint Vincent and the Grenadines, Seychelles, and Trinidad and Tobago; and add 11 "participating jurisdictions" which have already activated exchange relationships for AEOI with Hong Kong, namely Azerbaijan, Ecuador, Jamaica, Kazakhstan, Kenya, Maldives, Nigeria, Oman, Pakistan, Peru and Thailand.
"As an international financial centre, Hong Kong has long been supporting international co-operation in combating cross-border tax evasion. To take forward the OECD's recommendation, Hong Kong will update the list of 'participating jurisdictions' based on the latest status of the activation of AEOI exchange relationships between Hong Kong and relevant jurisdictions. This will enable Hong Kong to comply with the prevailing international tax standard on exchange of tax information," a Government spokesman said.
Subject to the completion of the legislative procedures, the amendment notice will come into operation on 1 January 2025.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202404/30/P2024042900458.htm.
Subsidy arrangement of New Energy Transport Fund revised
The technological development of electric vehicles is rapid. To focus the New Energy Transport Fund (the Fund) on subsidising trials on new energy technologies that are more suited or better placed in meeting the needs of the transport sector, thereby expediting their green transformation, the Environment and Ecology Bureau has timely reviewed the subsidy framework, approach and levels under "Applications for Trial" of the Fund. The Steering Committee of the Fund has supported the use of a revised subsidy arrangement with the adoption of a merit-based approach in assessing all applications that are being processed.
The revised subsidy arrangement shall enable the Government to make the best use of the Fund for promoting the green transformation of the transport sector. For details of the revision, please visit the website of the Fund (www.eeb.gov.hk/en/new-energy-transport-fund.html) or call the enquiry hotline on 2824 0022.
The Government has put in place the Fund since March 2011 to subsidise the testing and encourage wider use of green innovative transport technologies for a variety of commercial transport tools including goods vehicles (including special purpose vehicles), taxis, light buses, buses, vessels, motorcycles, non-road vehicles, or the aforesaid transport tools of charitable/non-profit making organisations providing services to their clients. The technologies to be subsidised include new energy vehicles or vessels, conversion of in-use conventional vehicles or vessels to new energy vehicles or vessels, and after-treatment emission reduction devices or fuel saving devices applicable to vehicles or vessels. Transport operators and charitable/non-profit making organisations may apply for trying out different green technology products subject to a maximum subsidy of $10 million for each application and a total subsidy of $12 million for each applicant. The Fund completed its review in September 2020 to expand the subsidy scope and refine the subsidy level and ceiling.
As of March 2024, the Fund has approved 319 trials involving a total subsidy of $272 million. A total of 180 approved trials under the Fund have been completed. Trial reports have been uploaded to the Fund's website.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202404/29/P2024042900239.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 HKPC to gradually enhance the services of “SME ReachOut” in the ensuing five years starting from 2023. HKPC has enhanced the services of “SME ReachOut” 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, focusing on areas such as ESG, technology transformation, digitalisation and cyber security, with a view to 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://smereachout.hkpc.org/en.
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 (www.bud.hkpc.org/en) 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.
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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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