(Policy Address 2023) Hong Kong to help SMEs tap into e-commerce

John Lee said on Wednesday that the Commerce and Economic Development Bureau will establish the inter-departmental E-commerce Development Task Force to implement policies assisting Hong Kong's SMEs in developing e-commerce businesses on the Mainland - including organizing “Hong Kong Shopping Festivals” on e-commerce platforms.

The government will also be launching the "E-commerce Easy" under the Dedicated Fund on Branding, Upgrading and Domestic Sales to enable enterprises make use of the HK$1 million for the implementation of e-commerce projects within the cumulative funding ceiling of HK$7 million, and expediting the rollout of schemes including the Single E-lock Scheme and the Trade Single Window to enhance efficiency in customs clearance and e-commerce delivery.

Meanwhile, taking into account that the application period of the principal moratorium arrangement under the SME Financing Guarantee Scheme ended in September, Lee said the government will provide more flexible repayment options so that enterprises may choose to repay only 10 percent, 20 percent or 50 percent of the original principal amount payable each month during the specified period, enabling them to have more time to gradually switch to normal repayment.

Separately, Lee said the Commercial Data Interchange will be connected to the government's Consented Data Exchange Gateway by the end of this year enabling financial institutions to obtain more useful data for accelerating credit underwriting.

Cyberport will also launch the Digital Transformation Support Pilot Programme by the end of this year to subsidize SMEs in the retail and food and beverage sectors in applying for electronic payment and other digital packages, Lee added.