Hong Kong unveils 10 SME measures to ease financing and digital access

Measures include free credit checks, BUD Fund expansion and Cyberport matching funds for AI.

The Hong Kong Export Credit Insurance Corporation will extend its 20 free-buyer credit checks for one year to support small and medium-sized enterprises (SMEs).

The measure is one of 10 SME support initiatives announced by Chief Executive John Lee in his Policy Address on 16 September, aimed at driving economic growth.

Separately, the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) will be expanded to Uzbekistan and Qatar, and will also offer targeted funding for artificial intelligence projects under the scheme.

Concurrently, the Hong Kong Trade Development Council and the Trade & Industry Department will assist SMEs with cross-border e-commerce and brand development.

To facilitate banks’ granting credit approvals to SMEs, connections to the Commercial Data Interchange will be strengthened.

The Hong Kong Monetary Authority will also advance trade data sharing with Shanghai and the Association of Southeast Asian Nations electronic port systems.