Deutsche Hongkong Gesellschaft e.V.
Federation of Hong Kong Business Association Worldwide


Die Hongkong-Regierung hat das neue Budget fuer 2023/2024 veroeffentlicht, hier sind die Highlights:

Highlights of the 2023-24 Budget
Financial Secretary announced the 2023 – 24 Budget on 22 February 2023, contents of relevance to the business sectors include:
Economic Situation in 2022 and Prospects for 2023
1. In 2022, Hong Kong's economy contracted by 3.5%. Exports of goods and services decreased by 13.9% and 0.9% respectively in real terms.
2. The Government forecasts economic growth of 3.5% to 5.5% in real terms for 2023.
3. In the medium term, the Government forecasts an average economic growth of 3.7% per annum in real terms from 2024 to 2027.
Public Finances
1. The Government estimated a deficit of HK$54.4 billion for 2023-2024. Fiscal reserves will also decrease to $762.9 billion, equivalent to 12 months of government expenditure.
Counter-cyclical Measures
1. Introduce relief measures to support enterprises, such as:
1. Reduce profits tax for the year of assessment 2022/23 by 100%, subject to a ceiling of HK$6,000.
2. Provide rates concession for non domestic properties for the first two quarters of 2023 24, subject to a ceiling of HK$1,000 per quarter for each rateable property.
3. Enhance the SME Financing Guarantee Scheme (SFGS) to extend the application period of all guarantee products under the SFGS from end June 2023 to end March 2024.
4. Inject $30 million into the Information Technology Development Matching Fund Scheme for Travel Agents to encourage the tourism sector to undergo upgrade and transformation.
2. Introduce measures to ease the financial burden of the public and to support employment, including:
5. Issue electronic consumption vouchers with a total value of HK$5,000 by instalment to each eligible Hong Kong permanent resident and new arrival aged 18 or above.
6. Reduce salaries tax and tax under personal assessment for the year of assessment 2022/23 by 100%, subject to a ceiling of HK$6,000.
7. Propose to increase the basic child allowance and the additional child allowance for each child born during the year of assessment from the current HK$120,000 to HK$130,000 starting from the year of assessment 2023/24.
International Trade
3. Provide additional funding of HK$550 million in total to the HKTDC in the five financial years starting from 2023-24 to facilitate Hong Kong entrepreneurs in seizing opportunities arising from the B&R Initiative and the GBA development and tapping into emerging markets.
4. Further inject HK$500 million into the Branding, Upgrading and Domestic Sales (BUD Fund) and launch "BUD Easy" to expedite the processing of applications.
5. Allocate HK$100 million to the Hong Kong Productivity Council to strengthen assistance for SMEs in applying for government subsidies.
6. Actively seek to join the Regional Comprehensive Economic Partnership (RCEP).
Innovation and Technology
7. Set aside HK$6 billion to provide subsidies for universities and research institutes to set up thematic research centres from 2022/23 Budget.
8. Earmark HK$3 billion to enhance basic research in frontier technology fields such as artificial intelligence and quantum technology.
9. Establish a Microelectronics Research and Development Institute to enhance collaboration among universities, R&D centres and the industry, expediting "1 to N" transformation.
10. Step up investment in technology start-ups, the HKSTPC will inject HK$400 million into its Corporate Venture Fund.
11. Earmark HK$265 million for Cyberport to launch a dedicated incubation programme for smart living start ups, under which a maximum grant of HK$500,000.
12. Conduct a feasibility study on setting up the second Advanced Manufacturing Centre.
Intellectual Property
13. Allocate HK$10 million to the Intellectual Property Department in the next two years for employing and nurturing its patent examiners as well as progressively developing a talent pool.
1. Enhance the IP regime to strengthen copyright protection in the digital environment.
2. Introduce a "patent box" tax incentive to encourage the I&T sector to create more patented inventions.
Financial Services
14. Will continue to explore with the mainland on widen mutual market access and enhancement arrangements, such as enhancing the Cross-boundary Wealth Management Connect Scheme in the GBA, the Bond Connect, as well as further expanding the scope of eligible securities under the Stock Connect.
1. Under the mutual access channels, RMB counter is being explored under the Stock Connect, while HKD and RMB settlement is also offered in the international carbon market launched by the HKEX.
2. Provide profits tax exemption for qualifying transactions of family owned investment holding vehicles managed by single family offices in Hong Kong.
3. Take forward the application testing and preparatory work for various financial technology (Fintech) infrastructure projects, including "e-HKD" and "e-CNY" as cross-boundary payment facilities.
4. Plan to issue no less than HK$50 billion of Silver Bond and HK$15 billion of retail green bonds in the next financial year.
5. Provide HK$100 million to InvestHK to attract more family offices to Hong Kong.
6. Introduce a listing regime for advanced technology companies in the first quarter of 2023.
7. International GreenTech and GreenFi Centre: To set up a Green Technology and Finance Development Committee for promoting the development of Hong Kong into an international green technology and finance centre.
Arts, Culture and Tourism
8. Allocate HK$20 million for hosting GBA Culture and Arts Festival in 2024.
9. Propose to provide a total of HK$135 million over five years, starting from the next financial year, to support performing arts groups and artists in Hong Kong in taking part in performances and productions in the GBA.
10. Allocate HK$42 million for organising the Hong Kong Performing Arts Market designed for the performing arts industry.
11. Inject an additional HK$500 million into the CreateSmart Initiative (CSI) to support the development of creative industries. The CSI will also provide funding support for the Hong Kong Design Centre and the HKTDC to implement flagship events and incubation programmes.
Aviation and Maritime
12. Support the recovery of air traffic, the Airport Authority Hong Kong (AA) is rolling out a series of measures, which include reducing or waiving airport charges, providing incentives to resume suspended flight services or launch new routes etc.
1. Planning to construct a new aviation business park on the Airport Island, and is exploring with Zhuhai authorities the feasibility of building an aviation industrial park in Zhuhai.
2. Earmark HK$20 million to expedite studies on strategies for promoting the high end maritime service industry and enhance exchanges among industries in the international arena and the GBA.
1. Inject HK$200 million into the Maritime and Aviation Training Fund (MATF) to support manpower training of the logistics industry, promote the development of high end, high value added and smart logistics.
Digital Economy
13. Will conduct a feasibility study on the development of an Artificial Intelligence Supercomputing Centre.
3. $500 million earmarked for Cyberport to launch a Digital Transformation Support Pilot Programme, to assist SMEs in applying ready-to-use basic digital solutions.
4. Will earmark $200 million to enhance the operation of the “iAM Smart” platform to improve user experience.
5. Propose to provide tax deduction for the spectrum utilisation fees paid by telecommunications network operators which successfully bid for radio spectrum.
Land Resources
14. Making preparations for the establishment of a Northern Metropolis Co-ordination Office, and commence consultation on the development proposals and land use planning of San Tin Technopole.
Environmental Protection
15. Earmark $200 million under the New Energy Transport Fund for progressively commencing trials of hydrogen fuel cell electric double deck buses and heavy vehicles within this year; and set aside $350 million to provide subsidies to four in harbour ferry operators for the construction and trials of electric ferries and the related charging facilities.
Full text and highlights leaflet of the 2023-24 Budget can be accessed at the site below:

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