Govt steps up subsidies for local enterprises on smart manufacturing

Financial Secretary Paul Chan Mo-po said on Wednesday that the SAR government has earmarked HK$100 million for a new initiative to help local manufacturing enterprises tap into smart manufacturing.

Delivering his 2025-26 budget to the Legislative Council this morning, the finance chief said HK$100 million has been earmarked to launch a two-year Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+) this year.

He said the government will provide funding of up to HK$250,000 each on a one-to-two matching basis to enterprises operating production lines in Hong Kong to support their formulation of smart production strategies and introduction of advanced technologies into existing production lines. The scheme is expected to benefit some 400 enterprises.

Meanwhile, Chan said authorities enhanced the New Industrialisation Funding Scheme last year to strengthen support for local manufacturing enterprises to shift to smart manufacturing. 

The number of new smart production lines supported by the Scheme has exceeded 100, involving industries such as biotechnology, nanofibre materials, and new energy, said Chan, adding that the total investment cost is around HK$1.3 billion, of which HK$930 million came from private investment.

He also noted that a New Industrialisation Acceleration Scheme was launched in September last year to provide matching subsidies to enterprises to build smart production facilities in Hong Kong.