Since the beginning of 2018, the US has made multiple announcements on tariff increases for Chinese imports. To help members keep up-to-date with the latest developments and find out more on available support and resources, we are pleased to inform you that the HKTDC has recently launched a new “US Trade” Section in our portal Hong Kong Means Business.
English page: http://hkmb.hktdc.com/en/ustrade
The page contains information that is relevant and helpful to members especially those who are in major affected product categories like textiles, electronics, electrical and machinery. You may subscribe to HKTDC weekly e-newsletter to keep abreast of the latest development.
HKSAR Government Funding
In addition to the support from HKTDC, the HKSAR government has also launched funding schemes to help SMEs overcome the trade hurdles. They include the enhanced SME Export Marketing Fund (EMF), the enhanced Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), Retail Technology Adoption Assistance Scheme (RETAAS) and Professional Services Advancement Support Scheme (PASS). Appended below is a summary of the funding schemes, the details of which can be found at the respective website.
SME Export Marketing Fund (EMF)
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Funding Scope: |
To provide grants to SMEs for their participation in export promotion activities to promote their own products and/or services. |
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Recent Major Enhancements: |
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Website: |
Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)
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Funding Scope: |
To provide funding support to individual Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland market and ASEAN market. |
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Recent Major Enhancements: |
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Website: |
Retail Technology Adoption Assistance Scheme (RETAAS)
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Funding Scope: |
To provide funding support for retail enterprises to adopt technologies for manpower demand management purposes and help to enhance productivity. |
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Website: |
Professional Services Advancement Support Scheme (PASS)
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Funding Scope: |
To provide funding support for non-profit-making industry-led projects aimed at increasing the exchanges and co-operation of Hong Kong's professional services with their counterparts in external markets, promoting relevant publicity activities and enhancing the standards and external competitiveness of Hong Kong’s professional services. |
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Website: |
Upcoming HKTDC events on US Trade Relations
HKTDC is going to organise the third Research Seminar on “Prospering in a Time of Tariffs: How to Ensure Your Business is Not a Trade War Casualty” in the afternoon of 25 October 2018. The objective is to update SMEs on the latest development of Sino-US trade relations, with case studies and advice on custom duty strategies. More details will be announced closer to time. Please mark your diary for this important event.
Should you have any questions, please feel free to contact HKTDC Mr. Eddie Lee at 25844568 (email: eddie.pl.lee@hktdc.org) or Mr. Kevin Ho at 25844218 (email: kevin.ch.ho@hktdc.org).
