• 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 Wednesday’s budget.

Officials will pump HK$1 billion (US$127.4 million) into an existing matching fund – the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD fund) – 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.

Source: https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2187953/hong-kong-budget-2019-offers-boost-businesses