Hong Kong policy address 2024: John Lee to consider more SME help amid rising closures
Chief executive meets SMEs before next week’s policy address to gauge views of businesses under pressure from ‘economic transitions’
Hong Kong’s leader will consider rolling out more measures to help small and medium-sized enterprises cope with major changes in the economy amid a rising trend of firms closing down in the past two years.
Chief Executive John Lee Ka-chiu, who will deliver his annual policy address next week, said on Thursday his administration had been supporting SMEs, including through an interdepartmental e-commerce task force set up in January to enhance the recognition of local brands and help them expand in the mainland China market.
“During discussions with representatives from SMEs, I have gained a deep understanding of the various challenges that different industries face during economic transitions, transformation periods and restructuring phases, as well as their needs for transformation,” he said on his social media account.
“I appreciate the valuable insights they have provided, and my team and I will carefully consider them.”
His post included a video of him meeting representatives from SMEs to understand their views on the current business environment as part of consultations for the policy address he will deliver on Wednesday.
A manufacturer of milk bottles told Lee he found dealing in person with a number of maternity and baby stores on the mainland to be very time-consuming and costly.