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Wednesday, 25 November 2020, 17:00 HKT/SGT
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Source: HKTDC
Hong Kong Trade Development Council welcomes economic support measures in 2020 Policy Address

HONG KONG, Nov 25, 2020 - (ACN Newswire) - Chairman of the Hong Kong Trade Development Council (HKTDC) Dr Peter KN Lam welcomed the economic support measures to help Hong Kong's small-and-medium sized enterprises (SME), unveiled in the Chief Executive's Policy Address today.

Dr Lam said, "Hong Kong SMEs are facing many challenges in the face of COVID-19, which has cast a shadow on global economic growth and has led to a 'new normal' in international trade and commerce. We welcome the economic support measures in the Policy Address that can help Hong Kong businesses overcome these challenges. For Hong Kong SMEs facing cash flow issues, cancelling the double stamp duty for non-residential property will provide them with more flexibility in their finances. At the same time, broadening the coverage of the Export and Marketing Fund will help SMEs find new market opportunities online and offline.

"Working closely with the HKSAR Government, we will assist Hong Kong SMEs to enter the Mainland Chinese market through the Guangdong-Hong Kong-Macao Greater Bay Area, while helping them to transform through digitisation and to find new global opportunities through different O2O [online-to-offline] promotional platforms. For the convention and exhibition industry which is hard-hit by the pandemic, the Government's decision to proceed with expansion plans for exhibition space in Wan Chai and at the airport will help sustain the industry's development, and in the long run reinforce Hong Kong's position as an international events capital."

Dr Lam added, "I and the team at HKTDC will redouble our efforts to help Hong Kong companies get through these difficult times and capture new opportunities ahead."


Contact:
Beatrice Lam, Tel: +852 2584 4049, Email: [email protected]
Susanna Sin, Tel: +852 2584 4294, Email: [email protected]



Topic: Press release summary
Sectors: Daily Finance, Local Business
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