Title: New Round of Enhancements to BUD Fund
Date: 2020-01-14

New Round of Enhancements to BUD Fund A new round of enhancement measures to the BUD fund will be implemented on 20 January 2020. 

  1. The enhancement measures included: Extending the geographical coverage of the BUD Fund to all economies with which Hong Kong has signed Free Trade Agreements. 
  2. Increasing the cumulative funding ceiling per enterprise to $4 million, including $2 million for projects in the Mainland and $2 million for projects in ASEAN and other FTA markets. 
  3. Increasing the ratio of initial payment from 25% to up to 75% of the total approved government funding. 
  4. Removing the requirements for the grantee to open and maintain a separate interest-bearing bank account and to deposit into the account the required amount of matching funds before receiving the initial payment. 
  5. All projects, including those opting for initial payment, can commence upon submission of applications. 
  6. Relaxing the budget cap of individual expenditure items (including procuring/leasing of additional machinery/equipment, producing samples/prototype, patent/trademark/design/utility model registration). 
  7. Allowing more fundable items (including costs for setting up new business entity in the Mainland, procuring/leasing additional machinery/equipment for increasing production capacity under the Mainland Programme, etc.). 

For the details of BUD fund, please refer to official web site: www.bud.hkpc.org