BUD Mainland
BUD Enterprise Support Scheme – "Mainland Scheme"
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BUD "Mainland Plan"
Amount of special fund
More government funding articles about the BUD Special Fund
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"BUD Special Fund - Mainland Project"
In order to encourage Hong Kong enterprises to enter the mainland market, the government has set up a special “BUD Fund” (Dedicated Fund on Branding, Upgrading and Domestic Sales) to provide financial assistance to assist Hong Kong enterprises to explore business opportunities, while the Mainland plan It is one of the plans under the fund; in order to cooperate with the development of the two places, strengthen the economic cooperation between the Mainland and Hong Kong and Macao, and at the same time help Hong Kong enterprises to enhance their own competitiveness and expand the Chinese market.
In order to support enterprises in developing a more diversified market, the Financial Secretary announced in the 2021-2022 Budget that he proposes to inject another $1.5 billion into the “BUD Special Fund” to increase the cumulative funding ceiling for each enterprise. increase from $4 million to $6 million; and further expand the territorial scope of funding to all 37 economies that have signed free trade agreements and/or investment promotion and protection agreements (IPAs) with Hong Kong. Subject to the approval of the Finance Committee of the Legislative Council, the Government plans to expand the geographical coverage of the “BUD Special Fund” in phases as follows:
Phase 1 (July 2021) covers Japan and South Korea
Phase 2 (Q1 2022) covers Austria, Belgium-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Sweden and the United Kingdom
Phase 3 (Q2 2022) covers Kuwait and the United Arab Emirates
Petition form
Registered in accordance with the Hong Kong Business Registration Ordinance (Cap. 310), it must meet the definition of SMEs prescribed by the Hong Kong government and have substantial business operations in Hong Kong. SMEs refer to manufacturing companies with less than 100 employees or non-manufacturing companies with less than 50 employees in Hong Kong.
Required application documents
- Software file of the application form (MS word format, Chinese or English version)
- 1 original copy of the application form signed by the authorized person of the applicant company and stamped by the company
- Other supporting documents:
- A copy of the business registration certificate of the applicant company
- Copies of supporting documents for the information of the major shareholders of the applicant company (eg: Annual Return Form AR1 issued by the Companies Registry)
- Copies of documents proving that the applicant enterprise has a direct investment relationship with a business unit in the Mainland
The maximum number of projects that can be funded by each enterprise
Up to 40 approved projects for Mainland and FTA schemes, each of which must be completed within 24 months.
Maximum funding amount per project
HK$1 million positive
BUD application process
- submit application
- Approval application
- Carry out approved projects
- Submit progress report and annual audited accounts
- Complete the project
- Submit final report and final audited accounts
Scope of application of the BUD special fund
- Set up business units and factories in China
- Sample production
- Brand positioning and image design, such as promotional material design and printing, etc.
- Brand promotion, such as advertising, spokesperson, influencer, public relations service, filming, etc.
- New product design and development
- Management system improvement
- buy or lease equipment
- Promote domestic sales channels, such as Tmall, JD, Alibaba, etc.
- Patent / Trademark / Design / Utility Model Patent Registration
- product or service promotion
- Participate in Mainland exhibitions (Hong Kong will depend on the nature of the exhibition)
Useful Links for BUD Special Fund
More government funding articles about the BUD Special Fund BUD Application Guidelines – Special Fund for Brand Development, Upgrading and Transformation and Expanding the Domestic Market (Corporate Support Program) Application Guidelines (https://fta.bud.hkpc.org/sites/default/files/download/FTA-Guide-to-Application-EN.pdf)
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