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| Wednesday, 1 February 2012, 18:30 HKT/SGT | |
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Source: HKTDC | |
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HONG KONG, Feb 1, 2012 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) welcomes the business-support measures proposed today by the Financial Secretary in his budget speech. The Council expects the measures will help local businesses, particularly small and medium-sized enterprises (SMEs), weather the current economic woes.
"The global economy looks gloomy, with the continuing euro crisis and the slower-than-expected recovery of the US economy," HKTDC Acting Executive Director Margaret Fong said. "Against this backdrop, the government has proposed a host of timely measures for the benefit of business operators.
"Such measures, including waiving business registration fees, halving the charges for import and export declarations, reducing profit tax, offering a new loan-guarantee product with a higher ratio of 80 per cent, and supporting the Hong Kong Export Credit Insurance Corporation in offering special concessions for SMEs, will tide local SMEs over difficult times by enhancing their competitiveness and easing their financial pressure," she said.
The HKTDC predicts that the total value of Hong Kong's exports will grow by only one per cent this year, given the bleak outlook for mature markets.
"Local business communities have been asking for assistance since the global economy faltered, and the HKTDC has taken their demands to the government through various channels. Today, we are pleased to learn that the government has responded to their appeals," said Ms Fong.
HKTDC Measures
"In the face of the worsening global economic environment, the HKTDC will continue to help local SMEs open up new markets and tap promising business opportunities," she pledged. "The Council will provide more timely market information, organise more business missions to emerging markets, arrange more meetings between local businesses and potential partners from these markets, and stage large-scale promotions in targeted markets."
The HKTDC will also enhance its efforts in encouraging mainland enterprises to use Hong Kong's business platform in going global. "As more mainland enterprises make use of Hong Kong's business platform, it will benefit local service providers and expand opportunities for cooperation between Hong Kong and mainland enterprises," said Ms Fong.
Working with Mainland Enterprises
The HKTDC, she added, will step up its joint overseas missions with mainland enterprises. "And Hong Kong will play a more important role for overseas enterprises doing business with their mainland counterparts," she said.
"The HKTDC helps local businesses tap opportunities in emerging markets through a host of support services," Ms Fong said. "We are hopeful that the government's new initiatives, together with HKTDC services, business missions and other measures, can help local business get through these difficult times."
Contact:
HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Topic: General Announcement
Source: HKTDC
Sectors: Trade Shows
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