CEDB briefs Trade and Industry Advisory Board on Hong Kong's First Five-Year Plan and Policy Address
The Secretary for Commerce and Economic Development, Mr Algernon Yau, briefed members of the Trade and Industry Advisory Board on major initiatives related to economic and trade developments in the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong's First Five-Year Plan) and the Chief Executive's 2026 Policy Address (Policy Address) at a meeting today (October 12).
Mr Yau said that based on the overall plan and development blueprint of Hong Kong's First Five-Year Plan, the Policy Address this year has rolled out a series of initiatives to strengthen Hong Kong's position and role as an international trade centre, and deepen its development as a regional intellectual property (IP) trading centre by leveraging the city's international advantages, creating more opportunities for the industrial and commercial sectors.
Mr Yau highlighted that despite the challenges brought about by geopolitics and trade protectionism, Hong Kong's external trade has demonstrated strong resilience. In 2025, Hong Kong ranked as the world's fifth-largest trading entity. Since the beginning of this year, Hong Kong has recorded encouraging results in merchandise exports, with the total export value in August recording a year-on-year increase of 53 per cent, marking the 19th consecutive month of double-digit growth.
In this regard, he shared with the members the Hong Kong Special Administrative Region (HKSAR) Government's multipronged measures to continuously expand international economic and trade networks to consolidate and enhance Hong Kong's role as an international trade centre. Meanwhile, the HKSAR Government will promote the high-quality development of trade by pursuing upgrades with the goal of achieving "digitalisation" and "diversification", and also develop Hong Kong into a high value-added supply chain service centre to assist enterprises in connecting with overseas supply chains and expanding their international businesses, capitalising on Hong Kong's strengths in professional services.
Mr Yau added that in response to the National 15th Five-Year Plan expressly supporting Hong Kong's development into a regional IP trading centre, the HKSAR Government is pressing ahead with the development of a vibrant IP ecosystem through a number of complementary measures, such as the launch of the Intellectual Property Financing Sandbox, the introduction of the Pilot Patent Valuation Support Scheme, the setting up of the Hong Kong Intellectual Property Academy and the establishment of the Strategy Committee on Intellectual Property Trading Development, with a view to strengthening the foundation for Hong Kong's development into a regional IP trading centre.
In addition, Mr Yau noted that the small and medium-sized enterprises (SMEs), which account for 98 per cent of the total number of enterprises in Hong Kong, is of great importance to Hong Kong's economic development. As such, thePolicy Address announced 10 measures to support the diversified development of SMEs, as well as their upgrading and transformation.
Among these, the funding ceiling of "Easy BUD" applications under the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) has been increased to $150,000. The BUD Fund also provides more targeted funding support for AI projects, and the geographical scope of the BUD Fund will be expanded to cover Uzbekistan and Qatar. Moreover, the Trade and Industry Department will co-ordinate with the "Four-in-One" Integrated Services of SME Centres to assist SMEs in formulating brand development strategies. The Hong Kong Trade Development Council will also strengthen the services of the E-Commerce Express, raising awareness of Hong Kong brands and expanding their coverage in e-commerce markets outside Hong Kong.
With Hong Kong's First Five-Year Plan and the Policy Address as action plans, Mr Yau looks forward to working hand in hand with the trade to further promote Hong Kong's economic and trade developments, particularly advancing the development of the Northern Metropolis and assisting Mainland enterprises in going global, with a view to reinforcing Hong Kong's important role as a "super connector" and "super value-adder" while injecting new impetus into the city's economy.
The Secretary for Commerce and Economic Development, Mr Algernon Yau (second right), briefed members of the Trade and Industry Advisory Board on major initiatives related to economic and trade developments in the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and the Chief Executive's 2026 Policy Address at a meeting today (October 12). The Permanent Secretary for Commerce and Economic Development, Ms Angela Lee (second left); the Commissioner for Belt and Road, Mr Nicholas Ho (first left); and the Director-General of Trade and Industry, Mr Aaron Liu (first right), also attended the meeting. Source: HKSAR Government Press Releases
The Secretary for Commerce and Economic Development, Mr Algernon Yau, briefed members of the Trade and Industry Advisory Board on major initiatives related to economic and trade developments in the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and the Chief Executive's 2026 Policy Address at a meeting today (October 12). Source: HKSAR Government Press Releases
