{"id":24406,"date":"2020-02-27T15:31:25","date_gmt":"2020-02-27T07:31:25","guid":{"rendered":"https:\/\/www.startmeup.hk\/a-supportive-government-key-initiatives-announced-in-the-2020-21-budget\/"},"modified":"2020-02-27T15:31:25","modified_gmt":"2020-02-27T07:31:25","slug":"a-supportive-government-key-initiatives-announced-in-the-2020-21-budget","status":"publish","type":"post","link":"http:\/\/cms.startmeup.hksarg\/zh-hans\/a-supportive-government-key-initiatives-announced-in-the-2020-21-budget\/","title":{"rendered":"A Supportive Government &#8211; Key Initiatives Announced in the 2020-21 Budget"},"content":{"rendered":"<p><img  src=\"https:\/\/www.startmeup.hk\/wp-content\/uploads\/2020\/02\/20200226A_03B-744x491.jpg\" alt=\"\" width=\"744\" height=\"491\" srcset=\"http:\/\/cms.startmeup.hksarg\/wp-content\/uploads\/2020\/02\/20200226A_03B-744x491.jpg 744w, http:\/\/cms.startmeup.hksarg\/wp-content\/uploads\/2020\/02\/20200226A_03B.jpg 960w\" sizes=\"(max-width: 744px) 100vw, 744px\" class=\"alignnone size-medium wp-image-12856 no-lazyload\" \/><\/p>\n<p>The Financial Secretary delivered the third Budget of the current-term Government on February 26.<\/p>\n<p><strong>Key initiatives announced in the 2020-21 Budget include:<\/strong><\/p>\n<p>Support Enterprises<\/p>\n<ul>\n<li>$10,000 cash payout to Hong Kong permanent residents aged 18 or above<\/li>\n<li>Introduce a concessionary low-interest loan with 100% guarantee for enterprises, which will be open for application for six months. Maximum load of $2 million with repayment period up to three years. Moratorium on principle repayment for first six months<\/li>\n<li>Reduce profits tax for 2019-20 assessment year by 100% subject to a $20,000 ceiling<\/li>\n<li>Waive business registration fees for 2020-21<\/li>\n<li>Waive registration fees for company annual returns for two years<\/li>\n<\/ul>\n<p>Financial Services<\/p>\n<ul>\n<li>Launch a $1 billion pilot scheme for fixed-rate mortgages to help reduce risks of interest rate volatility for homebuyers<\/li>\n<li>Issue inflation-linked retail bonds and Silver Bonds totalling not less than $13 billion<\/li>\n<li>Issue green bonds totalling $66 billion in next 5 years<\/li>\n<\/ul>\n<p>Innovation and Technology<\/p>\n<ul>\n<li>Earmark $3 billion to take forward Phase 2 of the Science Park Expansion Programme<\/li>\n<li>Explore the establishment of a third InnoHK research cluster<\/li>\n<li>Increase the grant ceiling under the Technology Voucher Programme to $600,000 and raise the Government\u2019s funding ratio to 75%<\/li>\n<li>Inject $345 million for a pilot subsidy scheme to encourage the logistics industry to enhance productivity through the application of technology<\/li>\n<\/ul>\n<p>Tourism<\/p>\n<ul>\n<li>Additional funding of over $700 million for the Hong Kong Tourism Board to step up external promotion after the epidemic<\/li>\n<\/ul>\n<p>Trade<\/p>\n<ul>\n<li>Additional funding of $150 million for the Hong Kong Trade Development Council to assist Hong Kong enterprises in exploring business opportunities<\/li>\n<\/ul>\n<p>Professional Services<\/p>\n<ul>\n<li>Earmark about $450 million to implement the \u201cVision 2030 for Rule of Law\u201d project to strengthen the Hong Kong community\u2019s understanding of the concept of the rule of law and its implementation<\/li>\n<\/ul>\n<p>Cultural and Creative Industries<\/p>\n<ul>\n<li>Additional $900 million to the Art Development Matching Grants Scheme to further promote sponsorship of culture and arts from all sectors<\/li>\n<\/ul>\n<p>Nurture Talents<\/p>\n<ul>\n<li>Expand the Researcher Programme and Postdoctoral Hub to cover all technology companies conducting R&amp;D activities in Hong Kong<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"entry-summary\">\nThe Financial Secretary delivered the third Budget of the current-term Government on February 26. Key initiatives announced in the 2020-21 Budget incl&hellip;\n<\/div>\n<div class=\"link-more\"><a href=\"http:\/\/cms.startmeup.hksarg\/zh-hans\/a-supportive-government-key-initiatives-announced-in-the-2020-21-budget\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;A Supportive Government &#8211; Key Initiatives Announced in the 2020-21 Budget&rdquo;<\/span>&hellip;<\/a><\/div>\n","protected":false},"author":10,"featured_media":12857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_wp_rev_ctl_limit":""},"categories":[320],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Supportive Government - Key Initiatives Announced in the 2020-21 Budget - StartmeupHK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/cms.startmeup.hksarg\/zh-hans\/a-supportive-government-key-initiatives-announced-in-the-2020-21-budget\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Supportive Government - Key Initiatives Announced in the 2020-21 Budget - StartmeupHK\" \/>\n<meta property=\"og:description\" content=\"The Financial Secretary delivered the third Budget of the current-term Government on February 26. 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