Latest news about business, commerce and government policy. Government business grants such as BUD Fund, TVP Fund etc change rapidly in recent years.
Today is the 15th day of the 8th month of the Chinese calendar, known as the Mid-Autumn Festival. BizMagnet wish you a happy holiday. BizMagnet government funding consultant is professionally to help companies to apply for government funding. Our scope includes BUD fund consultation, TVP consultation, and other funding such as Export Marketing Fund, ReTAAS … Read more
The Hong Kong Trade Development Council (HKTDC) ‘s mechanizing platform “HKTDC Sourcing” will launch new interface and function next month. There are more than 2 million registered buyers and 100 thousand suppliers on the platform, connecting more than 20 million businesses annually. You can apply for government fund subsidy to use the HKTDC sourcing platform. … Read more
The Hong Kong Productivity Council (HKPC) released the latest figures of “Dedicated Fund on Branding, Upgrading and Domestic Sales” (BUD Fund) in a press release. Due to the US-China conflict, the Chief Innovation Officer Dr Lawrence Cheung reflected that a lot of manufacturers moved their factories from mainland China to Southeast Asia (ASEAN members) and … Read more
The Trade and Industry Department (TID) announced that the Export Marketing Fund for SMEs (EMF) has granted more than HK$ 3.9 billion since establishment in 2001. Application: 289,698 Approved: 242,658 Rejected: 41,437 Withdrawn: 2,258 Grant: $3,923,573,000 (From 2001 to 11th Sep 2020) Dedicated to SMEs to expand markets outside HK Export Marketing Fund is dedicated … Read more
Yesterday (2nd Sep) the Hong Kong Police Force arrested 15 persons, on suspicion of anti-epidemic fund fraud, seeking around HK$ 3.87 million. Suspects accused of submitting false proof, such as MPF records, transaction records, or altered retail photos downloaded from the Internet, to seek more government funding grant. This is another commercial crime case about … Read more
Due to the US national security and the worry of American user information theft by China, the US Department of Justice advised the Federal Communications Commission (FCC) to abandon a plan of building trans-Pacific undersea cable to Hong Kong by Google and Facebook. The advice was on 17th June this year, and it also advised … Read more
Last week, the Statistics and Census Service of Government of Macao SAR announced that the GDP of Macau in 2020 Q2 reduced by 67.8% year-on-year. Though Macau has exercised effective precaution to stop COVID-19 spread, the extreme measures also halted casinos running which highly rely on Chinese tourists. As we know, the gambling industry is … Read more
According to the official TVP website announcement, the “related entities” restriction is relaxed from 2020/08/14. Now, different companies with the same ultimate natural person holding more than 30% shares will NOT be considered as ONE single entity. These companies have independent cumulative subsidy pool. In other words, suppose you own more than 30% of Alpha … Read more
Mr Mohamed D. Butt, the executive director of Hong Kong Productivity Council, mentioned in an event that the BUD Fund grant increased by 12% in the first half of 2020, compared to the same period in 2019. It showed that Hong Kong companies know more how to use government fund in markets outside Hong Kong. … Read more
In the 21st meeting, the Standing Committee of the 13th National People’s Congress decided to authorize the State Council to execute a pilot programme in the nine Greater Bay Area (GBA) mainland cities (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou, and Zhaoqing). The programme allows Hong Kong and Macau lawyers to practice in specific … Read more
