THE Hong Kong Trade Development Council (HKTDC) has welcomed the economic relief measures unveiled by the special administrative region's Financial Secretary Paul Chan Mo-Po, saying they will benefit both the business community and residents.
"Our future economic development will become more challenging as global economic growth continues to be under pressure, the Sino-US trade war intensifies and incidents in Hong Kong impact our economy," said HKTDC chairman Peter Lam.
"We particularly welcome the enhancement of the Export Marketing Fund, BUD Fund [a dedicated fund on Branding, Upgrading and Domestic Sales - Enterprise Support Programme] and the SME Financing Guarantee Scheme because it can help our SMEs in their business operations and their efforts to capture new market opportunities, especially those from the Belt and Road and from the mainland, including the Guangdong-Hong Kong-Macao Greater Bay Area.
"By stepping up our efforts to create new opportunities for our SMEs [small- and medium-sized enterprises], I and our team will support our business community to get through these challenging times." he said.