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Marketing fund accepts applications starting from the 20th of this month, companies must bear at least 50% in cash

2020-01-15T05:59:21.802Z


In the second half of 2019, due to the impact of anti-revision conflicts in Hong Kong, the number of exhibitors and buyers at many large-scale exhibition activities decreased. The government announced earlier to optimize the marketing fund for SMEs. Starting from the 20th of this month, the cumulative funding limit for each SME will be increased from 400,000 yuan to 800,000 yuan. In addition, SMEs can apply for up to 75% of the approved government funding. Initial funding. The Director of Commerce and Economic Development Qiu Tenghua responded in writing to Legislative Councillor Shao Jiahui, saying that the new measures will apply to eligible promotional activities completed on or after November 21 last year.


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Written by: Zhang Meihua

2020-01-15 13:53

Last updated: 2020-01-15 13:53

In the second half of 2019, due to the impact of anti-revision conflicts in Hong Kong, the number of exhibitors and buyers at many large-scale exhibition activities decreased. The government announced earlier to optimize the marketing fund for SMEs. Starting from the 20th of this month, the cumulative funding limit for each SME will be increased from 400,000 yuan to 800,000 yuan. In addition, SMEs can apply for up to 75% of the approved government funding. Initial funding. The Director of Commerce and Economic Development Qiu Tenghua responded in writing to Legislative Councillor Shao Jiahui, saying that the new measures will apply to eligible promotional activities completed on or after November 21 last year.

The Hong Kong Convention and Exhibition Centre allows exhibition organisers to postpone the event, allow flexible arrangements for the installation and dismantling of exhibitions, and release restrictions on the planning of exhibition venues. (Profile picture)

Qiu Tenghua said that, as far as exhibition activities are concerned, most of the events held indoors last year went smoothly under the careful arrangements of the exhibition venue management company and the organizer. Large-scale exhibition venues also provide assistance as much as possible, and make special arrangements according to the circumstances of individual events. For example, the Hong Kong Convention and Exhibition Centre allows exhibition organisers to postpone the event, permit flexible arrangements for the installation and dismantling of exhibitions, and release exhibitions Restrictions on site planning, etc.

In addition, SMEs can submit marketing fund applications within 60 days of the end of the promotional activities. As the new measures on doubling funding caps will be implemented starting on the 20th of this month, plus the 60-day application period, the new measures will apply to eligible promotional activities completed on or after November 21 last year. Qiu Tenghua continued that the upper limit of the first allocation was 75% of the approved government funding.

Regarding the maximum funding as a percentage of the total approved expenditure, Qiu Tenghua said that the government can fund up to 50% of the total approved expenditure of an individual project, and the enterprise must bear in cash not less than 50% of the total approved expenditure of the project. Principles provide funding ratios to ensure that public funds are used appropriately and not abused.

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Qiu Tenghua

Source: hk1

All news articles on 2020-01-15

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