Hong Kong Commerce and Economic Development Bureau: Actively assisting businesses to seize e-commerce opportunities, BUD special funds expanded to Southeast Asian countries.

At the Hong Kong Retail Summit, the Director of the Hong Kong Commerce and Economic Development Bureau, Edward Yau, pointed out that the retail industry in Hong Kong is facing certain challenges due to factors such as the uncertain external economic and trade environment, as well as the structural transformation of the Hong Kong economy. However, challenges often come with opportunities. The Hong Kong Trade Development Council has implemented optimization measures for the BUD special fund in March, expanding the scope of funding for e-commerce to 10 countries in the Association of Southeast Asian Nations, helping businesses seize e-commerce opportunities. In addition, companies can apply for funding for projects such as carbon auditing, carbon certification, and reducing carbon emissions in production lines, encouraging businesses to engage in cross-border e-commerce and green transformation. He also emphasized that in the face of challenges, businesses must adapt to changing environments. With the increasing popularity of e-commerce and social media's rise, traditional retail is facing unprecedented impacts, but at the same time, it is opening up new development opportunities for the retail industry. In recent years, the Hong Kong SAR government has actively encouraged and assisted businesses in seizing e-commerce opportunities. Edward Yau mentioned that the Hong Kong Trade Development Council has organized a series of specialized training seminars and research sharing sessions this year to help businesses understand how to seize the business opportunities of e-commerce. In August this year, the Hong Kong Trade Development Council will hold the second Hong Kong Goodies Expo on mainland e-commerce platforms. This year's event will be larger than the first one, showcasing more brands and launching more promotional channels to further help businesses increase brand exposure and expand the mainland e-commerce market. This year, the Hong Kong SAR government will also inject a total of HK$2 billion into the Special Fund for Brand Development, Upgrading, Transformation, and Expansion of Domestic Sales Market, as well as the Market Promotion and Business Support Fund, to provide solid support for small and medium enterprises.