The Hong Kong government is preparing to inject an additional HK$200 million into the BUD Special Fund, with implementation details expected to be released in the second quarter of this year. Secretary for Commerce and Economic Development Algernon Yau announced the plan during a budget-related press conference on February 27, emphasizing the government’s commitment to optimizing support measures for SMEs. The initiative aims to help small and medium-sized enterprises innovate, enhance competitiveness, seize opportunities, and explore new markets.

Yau noted that as mainland China advances high-level two-way openness, its enterprises are increasingly expanding into overseas markets. To support these efforts, the Hong Kong government will organize promotional events in both Hong Kong and various mainland cities, while establishing a cross-sector professional service platform. This platform will bring together Hong Kong-based providers of legal, accounting, financial, testing, certification, and marketing services to assist mainland companies in their global expansion.

Additionally, the government plans to arrange outbound study missions to help mainland enterprises better understand overseas market conditions. Yau also highlighted Hong Kong’s role as a key node in the Belt and Road Initiative, stating that the city will deepen collaboration with industries to strengthen ties with ASEAN and Middle Eastern markets and explore opportunities in Central Asia, South Asia, and North Africa. The government has already concluded investment agreement negotiations with Qatar, Bangladesh, and Peru, and is currently exploring new agreements with Saudi Arabia and Egypt.