Don’t wait for clearance. BUD Fund for e-Commerce.

The Chief Execute-elect John Lee said, the re-opening of mainland border is the first priority job of his term.¹ However, it is clearly not pragmatic to wait for the re-opening at this moment. “Zero-COVID policy” are only in several countries and regions in the world. Even isolated North Korea reported thousands of cases recently. Scientists and political leaders generally agree that COVID-19 will co-exist with mankind in a long run. ²

Zero tolerance vs Coexistence

Hong Kong now faces a dilemma: in general the world agree with coexistence policy, and there is already herd immunity in Hong Kong. It should be alright for Hong Kong to go with the world. However, on the other hand, as a special administrative region of the People’s Republic of China, we must follow the zero tolerance policy of the Central Government.³ Zero tolerance and coexistence are mutually exclusive and we can only choose either one, which is a big bet in public health (as well as politics and economics). If we adopt zero COVID policy to re-open with mainland China, hardly we can connect with the international. (And vice versa) Hong Kong cannot neither be opposite to the Central Government, nor disconnect with the global economy. Therefore, the administration can only choose to not choose.

Don’t wait for clearance, go e-Commerce

Unless the Chinese government changes its zero-COVID policy, Hong Kong can remain unchanged and connect nobody. People cannot travel but logistic goes well. That’s why e-Commerce has booted rapidly during the pandemic.⁴ From 2004 “Individual Visit Scheme” to 2019 Social movement, the Hong Kong economy has benefited with mainland travelers for about 15 years. The old story has probably ended. From now on, you should consider a new model: branding, marketing and sales directly in Mainland China online platform. You can be successful by managing logistic and finance.

BUD Fund help you to brand

No matter Mainland China or other new markets (such as Southeast Asia), the BUD Fund supports Hong Kong companies to brand, promote and do e-Commerce. Each application can grant at most HK$ 1 million and the total cumulative grant is HK$ 6 million for each company. Many Hong Kong businesses (such as pharmaceutical) already start e-Commerce in China. BizMagnet BUD Consultant helps Hong Kong companies to apply for the BUD Fund Mainland Programme and FTA and IPPA Programme. (All economies signed Free Trade agreement and IPPA with Hong Kong, please refer to “BUD country list“

1. SCMP, https://www.scmp.com/news/hong-kong/politics/article/3175917/hong-kong-chief-executive-election-candidate-john-lee-says
2. General Director, WHO, https://www.who.int/director-general/speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on-covid-19—12-january-2022
3. Press release, HKSAR Government, https://www.info.gov.hk/gia/general/202201/30/P2022013000492.htm
4. McKinsey, “it might be the ten years forward we just jumped in 90 days’ time” https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/five-fifty-the-quickening