Politics is the activities of decision-making in a group, especially for a country. Both economics and politics are about resource allocation and they are interdependent.
Announced in the 2021-22 Budget, the government will enhance the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) to relieve further SMEs’ cash flow pressure. The improvement measures are as follows: Maximum amount of loan: the total amount of employee wages and rents for 18 months, or HK$6 million, whichever is lower … Read more
Announced in the 2021/22 Budget, the government proposed to improve further the BUD Fund, including the following measures: Additional injection of $1.5 billion Expansion of geographical coverage to 37 economies (previously 20 economies) Increase of the funding ceiling for each company to $6 million (previously $4 million) According to sources, the Secretariat of the BUD … Read more
Previously the Chief Executive Carrie Lam announced that the government seeks injection approval to the Anti-epidemic Fund before Christmas. The fourth round of the Anti-epidemic Fund will assist those sectors impacted by the social distancing measures. For instance, restaurants, beauty salons, fitness centres etc. The application is simple and even raised by the government. Nevertheless, … Read more
Under the Anti-epidemic Fund of the HKSAR Government, the Employment Support Scheme (ESS) had two phrases, June to August and September to November this year. Companies accepting the ESS subsidy cannot cut jobs during the period. Therefore some enterprises such as Cathay Pacific didn’t apply for the second phrase. The ESS completed on 30th Nov … Read more
Up to now (8/11/2020), the US presidential election doesn’t have a final projection yet. Democrat candidate Joe Biden won most of the swing states and more than 270 electoral votes. Republican candidate Donald Trump (the present president) doesn’t agree to lose and about to appeal to the Supreme Court. It is likely that another case … Read more
The US President Donald Trump announced in his Twitter account that he and the First Lady Melania test positive for COVID-19 (formerly known as Wuhan Pneumonia). The latest COVID-19 update of BizMagnet. BizMagnet government fund consultant is professionally to help companies to apply for government funds. Our service includes BUD consultation, TVP consultation and other … Read more
George Leung Siu-kay, the CEO of the Hong Kong General Chamber of Commerce (HKGCC), expressed in “Letter to Hong Kong“, a RTHK programme, that Hong Kong is no longer a business-friendly place. The social gathering ban has frozen small businesses. Though subsidy and compensation is helpful, the most important is to control the virus spread. … Read more
The COVID-19 pandemic has tremendously impacted global supply chain and demand while Sino-US relation has declined to the lowest in decades. Thus many manufacturers moved their factories from mainland China to ASEAN region. On the other hand, China is proactively developing domestic market (“Circular economy”). The Free Trade Agreement (FTA) between China and the ASEAN … 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
Yesterday (2020/08/07), the US Treasury announced to impose sanctions on China and Hong Kong 11 officials who harm Hong Kong autonomy and human rights.These major officers include the Chief Executive Carrie Lam, the Secretary of Justice Teresa Cheng, the Commissioner of Police PK Tang etc. All Americans and American companies cannot deal with the sanctioned … Read more