Qiu Yinghua: BUD Special Fund invests 200 million Hong Kong dollars and is expected to launch execution details in the second quarter.

On February 27, Nicholas Yang, the Secretary for Commerce and Economic Development of Hong Kong, stated at a press conference on the budget measures that the Hong Kong government is committed to optimizing various measures to support small and medium-sized enterprises in continuously innovating, improving competitiveness, seizing opportunities, and exploring new markets. The government is preparing for the implementation details of new measures, including injecting HK$200 million into the BUD Special Fund, and is expected to launch them in the second quarter of this year. Yang mentioned that as mainland enterprises actively explore overseas markets with the promotion of high-level two-way opening up, they will hold promotional events in different provinces and cities in Hong Kong and mainland China. They will also establish cross-border professional service platforms for Hong Kong professional service providers in legal, accounting, finance, testing and certification, and market promotion to support mainland enterprises going global. The government will also plan outbound inspection missions to lead mainland enterprises in understanding overseas markets. Yang stated that Hong Kong will strengthen its role as a key node in the construction of the Belt and Road Initiative, work with the industry to deepen market penetration in ASEAN and the Middle East, explore the potential of markets in Central Asia, South Asia, and North Africa, sign more free trade agreements and investment agreements. The government has already concluded investment agreement negotiations with Qatar, Bangladesh, and Peru, and is exploring new investment agreements with Saudi Arabia and Egypt.