|Wednesday, 16 October 2019, 20:00 HKT/SGT|
HONG KONG, Oct 16, 2019 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) welcomes the wide-ranging initiatives announced by the Chief Executive in her Policy Address today, to help Hong Kong's economy and society ride through the current challenges and prepare for the future.
Dr Peter K N Lam, Chairman of the HKTDC, said, "Hong Kong is currently facing grave challenges. Continued social unrest and economic uncertainties from the trade war have cast a shadow on Hong Kong's development, especially hitting our SMEs. In light of this, we support the Chief Executive's initiatives to help Hong Kong's business community and society by helping them open up new markets such as Belt and Road countries and Mainland China, such as working with simplifying tax and approval procedures, or developing measures to attract Hong Kong and Mainland enterprises to use and develop overseas economic trade cooperation zones. Hong Kong can leverage its advantages as an international market, and its strength in talent, legal system and capital flow to partner with mainland enterprises in investing in the Belt and Road and other international projects.
"Through our wide-ranging promotion and market activities, the HKTDC will work closely with the HKSAR Government's funding support for SMEs, including enhanced Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) and the SME Export Marketing Fund, as well as loan financing guarantee schemes. These measures can alleviate SMEs' financial constraints and empower them to capture new opportunities arising from the Belt and Road and the Guangdong-Hong Kong-Macao Greater Bay Area.
"We further welcome the Government's support to broaden funding and talent pools to support innovation, social innovation and technology, and we are also encouraged by the tax concessions to attract the international maritime industry to establish a presence in Hong Kong.
Dr Lam added, "I and my team at the HKTDC will continue putting in our best effort to support Hong Kong's SMEs to ride through the storm by opening new markets and forging new frontiers together."
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.
Susanna Sin, Tel: +852 2584 4294, email: [email protected]
Topic: Press release summary
Sectors: Daily Finance, Local Business
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