Hong Kong Unveils Economic Initiatives to Strengthen Trade and Support SMEs in New Five-Year Plan

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.

CEDB briefs Trade and Industry Advisory Board on Hong Kong's First Five-Year Plan and Policy Address Source: HKSAR Government Press Releases

CEDB briefs Trade and Industry Advisory Board on Hong Kong's First Five-Year Plan and Policy Address Source: HKSAR Government Press Releases

CHP closely monitors case of pneumonia of undetermined etiology that resulted in death in Russia

Regarding the death of a laboratory worker in Irkutsk Oblast of Siberia, Russia, due to severe pneumonia of undetermined etiology, the Centre for Health Protection (CHP) of the Department of Health (DH) said today (October 12) that, according to the World Health Organization (WHO)'s latest announcement, information obtained from the Russian authorities indicated that no evidence of ongoing transmission associated with the event had been identified. Nevertheless, for the sake of prudence,the CHP has implemented a series of control and prevention measures. The CHP will continue to closely monitor the latest developments, respond swiftly, and strictly guard against imported cases in order to safeguard public health.

After noticing media reports of the above-mentioned death case in Russia in early October, the CHP immediately and proactively sought further information from the WHO and the Russian health authorities. According to the latest information from the WHO, citing data provided by Russian authorities, no case of plague had been recorded recently in Irkutsk Oblast, the laboratory testing of the deceased's contacts detected no high-threat pathogens, and that there were no further cases of severe pneumonia linked to this case. The Russian authorities reported that no biosecurity incidents had occurred in the laboratory, and quarantine measures were instituted in the hospital where the patient was being treated. According to the WHO's assessment, no evidence of ongoing transmission associated with this event has been identified so far. Nevertheless, a key uncertainty remains the absence of a confirmed diagnosis in the deceased laboratory worker. The WHO will continue to monitor the situation and assess any potential public health implications as further information becomes available.

In recent months, the CHP has not received any reports of residents or travellers arriving in Hong Kong from Russia with cases of pneumonia ofundetermined etiology. Based on current information, there is no evidence indicating ongoing transmission. The CHP assesses that the immediate public health impact to Hong Kong is low. For the sake of prudence, the CHP has implemented a series of control and prevention measures to guard against imported cases, including:

(i) strengthening health surveillance for passengers arriving on relevant flights from Russia at the airport, including arranging for Port Health Division officers to conduct temperature checks at the relevant flight gates, and conducting health assessments for passengers exhibiting symptoms;

(ii) displaying signages and broadcasting announcements in the airport arrival area and through airlines to urge passengers who have visited Irkutsk Oblast of Siberia, Russia, within the past 14 days to proactively declare their travel history to the on-site staff of the DH for further health assessment;

(iii) if an inbound traveller exhibits symptoms of pneumonia, after assessment by Port Health Division officers, arrangements will be made immediately to transfer the individual to a public hospital for further testing; and

(iv) providing the Airport Authority Hong Kong and airlines with the latest information regarding the case in Russia, and urging airlines to remind their flight crews to strictly enforce established prevention and control measures if they identify suspected cases on their flights.

Through existing mechanisms, Hong Kong has the capacity to detect cases of unexplained infections and emerging infectious diseases at boundary control points and in hospitals.

In addition, the CHP will send letters to all doctors and hospitals in Hong Kong, reminding them to remain highly vigilant and to strengthen surveillance. Any patient who has visited Irkutsk Oblast of Siberia, Russia, within 14 days prior to the onset of symptoms and has developed pneumonia of undetermined etiology must immediately report to the CHP so that further testing can be arranged.

The CHP reminds travellers that if they develop respiratory symptoms after returning to Hong Kong, they should wear a face mask, seek medical attention and report their travel history to a doctor. The CHP will continue to maintain close liaison with the WHO and other relevant health authorities, closely monitor developments, and adjust disease prevention strategies as necessary to safeguard public health.

Source: AI-found images