Recently, the Financial Secretary of Hong Kong, Chen Maobo, announced the latest economic situation today. According to the current situation and outlook, the economic situation in Hong Kong remains grim during the rest of the year. The "economic typhoon" has approached Hong Kong. For this reason, the Hong Kong SAR Government announced on the 15th a series of measures with a scale of HK$19.1 billion, aiming at "supporting enterprises", "guaranteeing employment" and reducing the burden on the citizens. At present, Hong Kong company registration still has advantages. .

Since the beginning of this year, Hong Kong's economy's first and second quarter GDP growth rate is only 0.6%, the lowest in the past 10 years. In this regard, Hong Kong's Financial Secretary Chen Maobo warned that if Hong Kong's third-quarter GDP continues to grow negatively, Hong Kong's economy will fall into a technical recession. In the current situation, investment banks and institutions have lowered Hong Kong's economic growth this year. In the current economic situation, Hong Kong has adopted a number of policies to support Hong Kong enterprises.
Hong Kong supports enterprises and stabilizes employment
On the occasion of the "economic typhoon", the Hong Kong government is about to implement seven major measures to support Hong Kong enterprises and stabilize employment: exempt 27 types of government fees (for 12 months), covering maritime, logistics, retail, food, tourism, construction and The Government's fees and charges for the short-term tenancy of government land and the rent of public market stalls (for a period of six months);
To alleviate the financial burden on the public, the Hong Kong Government has also introduced seven relief measures to increase the salaries tax, personal assessment and profits tax concession in the year of assessment 2018/19 from the previously announced 75% to 100%.
Further support the development of SMEs
As a world-famous international financial center, Hong Kong is an ideal financing place for SMEs, including mature markets, sound rule of law, abundant funds and low financing costs. Therefore, many small and medium-sized enterprises in the Mainland are registered as Hong Kong companies, and most of the enterprises that go to Hong Kong are small and medium enterprises. At the same time, SMEs are the most important part of Hong Kong's economy. There are more than 300,000 SMEs in Hong Kong, accounting for more than 90% of the total number of commercial units in Hong Kong. On the occasion of the "economic typhoon" in Hong Kong, Hong Kong policy will take measures to support the development of SMEs.

The Hong Kong SAR Government will further optimize the "Special Fund for Developing Brands, Upgrading and Transforming and Expanding the Domestic Market" and the "SME Marketing Fund", and will make additional capital injections to support enterprises to explore business opportunities and promote sales.
Financial institution loans are one of the most important channels for SME financing in Hong Kong. Therefore, Hong Kong will focus on promoting the financing of SMEs in Hong Kong. Hong Kong will open a new credit guarantee product under the SME Financing Guarantee Scheme. The government will provide 90% credit guarantee and extend the application period of special preferential measures and the effective period of optimization measures.