Hong Kong firms receive support for Mainland businesses

The government has set aside $1 billion to strengthen the competitiveness of Hong Kong businesses on the Mainland.

Applications for the “Dedicated Fund on Branding, Upgrading & Domestic Sales” opened yesterday and will be accepted until June 2017 subject to the funding balance.

Secretary for Commerce & Economic Development Gregory So said the fund helps Hong Kong enterprises enhance their competitiveness, and facilitates their business development in the Mainland market.

"I am confident the Dedicated Fund on Branding, Upgrading & Domestic Sales can provide the necessary and adequate support to the trade," he said.

The fund's Enterprise Support Programme and the Organisation Support Programme provide funds for enterprises and non-profit-distributing organisations to undertake projects to develop brands, upgrade and restructure business operations, and promote sales on the Mainland.

The Productivity Council assists the implementation of the Enterprise Support Programme, which is open for all Hong Kong non-listed companies with substantive business operations in Hong Kong.

The government will cover a maximum of 50% of the total approved project cost. During the tenure of the fund, each enterprise can obtain funding for a maximum of three approved projects, and the cumulative funding ceiling is $500,000. Each funded project should be completed within two years.

The Trade & Industry Department implements the Organisation Support Programme. The maximum amount of funding support for each project is $5 million or 90% of the approved project expenditure, whichever is lower. The maximum duration of a project is three years.

For details visit the Enterprise Support Programme’s website at www.bud.hkpc.org or the Organisation Support Programme’s website at www.bud.tid.gov.hk.