- Finance chief says recent changes in global environment have affected local businesses, particularly small and medium-sized ones
- So he will pump an extra HK$1 billion into a matching fund to help them boost their brands and upgrade products for export
Businesses in Hong Kong will get more money and access to extra overseas markets under a programme intended to boost their reach and counter the negative impact of the US-China trade war, the government announced in Wednesdayβs budget.
Officials will pump HK$1 billion (US$127.4 million) into an existing matching fund β the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD fund) β to subsidise companies boosting their brands and upgrading their products for sale abroad.
This will take the fresh funding for the programme to HK$3.5 billion since last August, when the trade war worsened.
