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Policy Address

46. To provide further support for SMEs, we will:

  1. raise the level of funding support – The cumulative funding ceiling per enterprise under the Dedicated Fund on Branding, Upgrading and Domestic Sales (the BUD Fund) will be raised from $6 million to $7 million. To assist SMEs in developing markets outside Hong Kong, the cumulative funding ceiling per enterprise under the SME Export Marketing Fund will be raised from $0.8 million to $1 million. The special measure to expand its funding scope will also be extended to 30 June 2026 to continue to cover exhibitions and online exhibitions targeting the local market, and the eligibility criteria will be relaxed to cover non-SMEs;

  2. capitalise on the opportunities in the Mainland – Guangdong ETO will set up a dedicated promotion centre to support the development of Hong Kong people and enterprises in the GBA. The HKTDC will also set up more "GoGBA Business Support Centres" to cover all nine Mainland cities in the GBA, and organise business missions, training, etc. in various Mainland provinces and municipalities;

  3. extend the principal payment holiday arrangement – The Pre-approved Principal Payment Holiday Scheme will be extended for another six months to 31 July 2023, through the Banking Sector SME Lending Coordination Mechanism of the HKMA, and the principal repayment option will be enhanced to prepare for the eventual normal principal repayment by enterprises in future. Relevant arrangements will also be applicable to loans under the SME Financing Guarantee Scheme; and

  4. extend concessions of government fees and charges – We will continue to reduce 75% of water and sewage charges for non-domestic accounts for eight months from 1 December 2022 to 31 July 2023, subject to a monthly ceiling of $20,000 and $12,500 respectively per household. We will also continue to provide 75% rental or fee concessions currently applicable to eligible tenants of government premises and eligible short-term tenancies and waivers under the Lands Department for six months from 1 January 2023 to 30 June 2023.