Hong Kong trade hub plan targets 1,200 firms, patent valuation support
Hong Kong's commerce chief outlined plans to boost trade, attract 1,200 firms by 2027, launch patent valuation support, and set up a textile task force. The moves aim to strengthen the city's role as a global trade and intellectual property hub amid geopolitical challenges.
Hong Kong's Secretary for Commerce and Economic Development on Wednesday detailed plans to bolster the city's status as an international trade centre and regional intellectual property hub, as part of the first five-year development plan and the 2026 policy address.
Citing World Trade Organization figures, the secretary said Hong Kong's total merchandise trade exceeded HK$12 trillion in 2025, making it the world's fifth-largest goods trading economy. August exports rose 53 per cent year-on-year, marking the 19th consecutive month of double-digit growth, with shipments to nearly all major markets surging despite geopolitical and protectionist challenges.
The government will pursue high-quality trade development through digitalisation and diversification, encouraging manufacturing, technology and logistics firms to conduct high-value activities such as international orders, foreign exchange, trade finance and supply-chain management from Hong Kong. Invest Hong Kong will step up efforts to attract at least 1,200 enterprises in the 2026-2027 period, as pledged in last year's policy address, and target an average annual growth of 4 to 5 per cent in the number of companies headquartered in the city.
A dedicated task force on high-quality development of the textile and fashion industry will be set up, led by the secretary, to coordinate innovation, design, supply-chain management, sustainability, branding and talent training. The government has also earmarked HK$100 million to attract large-scale international exhibitions with novel elements, with the first flagship event scheduled for November. The Wan Chai North redevelopment project will proceed to provide more venue space for the convention sector.
On intellectual property, the Hong Kong Monetary Authority, the commerce bureau and the Intellectual Property Department launched a financing sandbox in December, completing seven pilot cases. A two-year patent valuation pilot support scheme, launched via the Hong Kong Technology and Innovation Support Centre, offers matching grants of up to HK$80,000 per approved firm. The Hong Kong Intellectual Property Academy will start operations in the fourth quarter, and an intellectual property trade development strategy committee will be formed.
Ten measures were announced to support small and medium enterprises amid global economic uncertainty. The "BUD Special Fund" now offers a maximum subsidy of HK$150,000 under its fast-track application, extends coverage to Uzbekistan and Qatar, and provides targeted support for artificial-intelligence projects. The Hong Kong Export Credit Insurance Corporation has extended free buyer credit assessment services to September 2027 and launched a pilot scheme for SMEs facing higher-risk buyers. The government will also consult the legislature on granting the Competition Commission powers to compel information gathering for market studies.