Hong Kong Business News

The Government launched E-commerce Easy under the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) today, with the goal of helping enterprises to develop the Mainland market through e-commerce.

The Trade & Industry Department made the announcement and in addition to explaining that the cumulative funding ceiling of E-commerce Easy is $1 million, it pointed out that items under E-commerce Easy projects are not subject to individual funding caps.

Applicants can make use of the funding for the establishment of online stores and placement of advertisements on third-party online sales platforms. The subsidy may also be used on the development or enhancement of mobile applications, and incorporation of online payment options on the enterprises’ websites.

                                                                                         

Funding under E-commerce Easy will be provided to enterprises on a matching basis. While enterprises can opt for an initial payment of up to 75% of the approved government funding, all projects must be completed within 24 months.

Speaking at the E-commerce Easy launch ceremony, Secretary for Commerce & Economic Development Algernon Yau said that the scheme can help companies to explore the enormous potential of the Mainland domestic sales market. He encouraged the trade to make good use of the measure to proactively seize the opportunities in the Mainland e-commerce market to expand their business coverage.

Additionally, the Government will hold the Hong Kong Shopping Festivals on Mainland e-commerce platforms in August through the Trade Development Council.

The event is organised to help small and medium-sized enterprises promote Hong Kong brands, with a view to enhancing awareness of Hong Kong products and brands on the Mainland and tapping the Mainland domestic market, he explained.

Apart from E-commerce Easy, companies may continue to apply for the BUD Fund. The cumulative funding cap per enterprise under the BUD Fund will remain at $7 million, the department added.

---

PREVIOUSNEXT