Hui Ying Wah: Hong Kong government increases funding and introduces new measures to help small and medium-sized enterprises seize the wave of AI and e-commerce.

On October 16th, the Secretary for Commerce and Economic Development of Hong Kong, Edward Yau, stated in his speech at the opening ceremony of the "SME ReachOut: Government Funding and Tech Expo 2025" that in the context of rapid changes in the global economy and the vibrant development of new technologies, small and medium enterprises need to be flexible and actively upgrade and transform. This year, the Hong Kong Chief Executive's Policy Address proposed to promote the widespread application of artificial intelligence (AI) in the public and business sectors, as well as the development of the data science industry. In fact, the Hong Kong government has been dedicated to supporting the upgrading and transformation of small and medium enterprises, expanding into overseas markets, and enhancing operational efficiency and market competitiveness through new technologies. It is hoped that through this annual event, small and medium enterprises will understand the resources provided by the government, grasp the latest market trends, promote the application of new technologies in enterprises, assist them in digital transformation, and enhance their competitiveness in the digital economy era. With the support of the Hong Kong government, the Hong Kong Productivity Council has been operating the SME ReachOut program since 2020, assisting small and medium enterprises in finding suitable government funding programs and providing capacity-building services. This expo is the third major event under the enhanced services of the SME ReachOut program, featuring digital transformation, overseas expansion, cross-border e-commerce and retail technology zones, themed seminars, and on-site consultation services. The expo also includes live demonstrations of e-commerce, allowing small and medium enterprises to observe the process firsthand, and features exhibits related to retail technology and AI. Selling products through e-commerce is a major trend, and small and medium enterprises can deepen their understanding of the trends in e-commerce market development and the technology solutions that can be applied through this expo. The Hong Kong government will continue to assist small and medium enterprises in expanding their cross-border e-commerce businesses through various measures. This year's Policy Address announced that the Hong Kong government will continue to hold the "Best of Hong Kong Expo" in the mainland and Association of Southeast Asian Nations (ASEAN) e-commerce markets over the next three years through the Hong Kong Trade Development Council to promote Hong Kong brands and help small and medium enterprises expand their sales channels in the mainland and ASEAN e-commerce markets. Furthermore, the Hong Kong government will strengthen training and information services through the four SME service centers, the Business Mentoring Program of the Trade and Industry Department, and the E-commerce Fast Track of the Trade Development Bureau. The government will also implement the "Creative E-commerce Unlimited" program and provide a one-stop business matching and referral service to enhance connections between Hong Kong businesses and e-commerce service providers. The Hong Kong Export Credit Insurance Corporation will expand financing support to Hong Kong e-commerce on various e-commerce platforms and further expand the coverage of free buyer credit checks to all markets covered by the export credit insurance, assisting Hong Kong businesses in exploring diverse export markets. Additionally, this year's Policy Address announced an injection of HK$1.43 billion into the BUD Fund and an expansion of the funding scope to cover eight more economies, including countries along the "Belt and Road" initiative, to provide more resources for small and medium enterprises to explore new markets. The Hong Kong government will establish the "Economic and Trade One-stop Platform" to facilitate the collaboration between the Hong Kong Economic and Trade Offices, the Invest Hong Kong, and the overseas offices of the Trade Development Bureau, to actively organize local small and medium enterprises and start-ups for more overseas business trips to find opportunities and effectively address challenges. The government will also introduce the "Interest Only" and extend the application period for the 80% credit guarantee product. The Trade and Industry Department will establish a regular mechanism for industry information dissemination to provide the latest international and mainland economic and trade information to small and medium enterprises more effectively.