International Trade Centre
123. Facing a complicated and ever‑changing geopolitical and economic landscape, we will consolidate and enhance our status as an international trade centre on all fronts through a series of policy initiatives.
Expand Commercial and Trade Network
124. Hong Kong will strengthen its role as the functional node for the Belt and Road (B&R) Initiative. We will collaborate with industry players to further develop the ASEAN and Middle East markets, and explore the potential of Central Asia, South Asia and North Africa markets. Meanwhile, we will forge more free trade agreements and investment agreements (IAs). We have concluded negotiations of IAs with Qatar, Bangladesh and Peru respectively, and are exploring the signing of new IAs with Saudi Arabia and Egypt.
125. Hong Kong has so far signed a total of 55 Comprehensive Avoidance of Double Taxation Agreements (CDTA), including those signed with Jordan, Maldives, Norway and Rwanda last year. We will further expand our CDTA network.
126. We will continue reaching out to relevant authorities in B&R regions to seek more project matching opportunities for Hong Kong enterprises and professional services, while encouraging and assisting external organisations to stage roadshows in Hong Kong. Outbound missions and project matching activities will also be organised to promote our professional services.
Attract Enterprises and Investment
127. To further attract enterprises to set up in Hong Kong, last year's Policy Address announced that we would formulate preferential policy packages to promote industries and investment.
128. We have formulated a preliminary framework, which would take into account a series of factors, including the enterprise's industry and its technology level, as well as the potential economic contributions and employment opportunities it can bring to Hong Kong. Policy tools include land grant arrangements, financial subsidies and tax incentives. The preferential tax rates will be half‑rate or five percent. We will introduce an amendment bill this year.
129. Tax policy is a key component to economic competitiveness. In view of the evolving global tax environment in recent years, I will establish and chair an Advisory Committee on Tax Policy to gather views widely from commercial, industrial and professional sectors, so that Hong Kong's tax policy can reinforce economic development.
Support Mainland Enterprises in Going Global
130. As our country is advancing with high-level, two-way opening-up, more Mainland enterprises are actively expanding overseas markets. The Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) will organise promotional activities to attract Mainland enterprises to venture into global markets through Hong Kong. We will also set up a cross-sectoral professional services platform, bringing together Hong Kong's professional services providers in the field of legal services, accounting, financial services, testing and certification, marketing, etc. to support enterprises going global.
Support Local Enterprises
131. The growing popularity of online shopping and changing consumption patterns have posed challenges to some sectors. The Government is enhancing various measures to strengthen the competitiveness of SMEs.
132. The Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) has been well‑received by enterprises. The Government will inject $200 million into the fund, raise the funding ceiling of "Easy BUD" to $150,000 per application, and provide more targeted funding support for enterprises in AI application.
133. The Hong Kong Export Credit Insurance Corporation will introduce a pilot scheme this year to provide protection for SMEs engaging in exports with higher-risk buyers.
134. The Government will continue providing loan guarantees to enterprises through the SME Financing Guarantee Scheme. We have extended the application period for the 80% Guarantee Product to the end of March 2028 and also extended the application period for the principal moratorium arrangement to mid-November this year. The total loan guarantee commitment under the Scheme will increase by $20 billion.
135. Hong Kong's food industry can leverage its reputation for quality to further expand into the Mainland and international markets. We will continue seeking market access and simplified customs arrangements of the Mainland for a wider range of local food products. The Centre for Food Safety will waive the fees related to the certification of food products for two years. Besides, we will introduce a new unified brand for local agricultural and fisheries products in the middle of this year, supported by a certification, testing and traceability mechanism.
Convention and Exhibition Industry
136. To promote further development of the exhibition industry and brand building as an international convention and exhibition hub, the Government will earmark $100 million for attracting large-scale international exhibitions with new elements to Hong Kong through collaborating with relevant organisations on a pilot basis. Our objective is to develop Hong Kong into the first‑choice platform for showcasing Mainland and international brands, while attracting high‑spending business visitors to Hong Kong and driving high value-added economic activities.
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