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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city

Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)

To help Hong Kong enterprises capture the opportunities arising from the National 12th Five-Year Plan, the Hong Kong Special Administrative Region Government (the Government) set up a "Dedicated Fund on Branding, Upgrading and Domestic Sales" (the BUD Fund) of HK$1 billion in June 2012 to assist Hong Kong enterprises in exploring and developing the Mainland market through developing brands, upgrading and restructuring their operations and promoting domestic sales in the Mainland.

Since 2018, the Government has injected a total of HK$5 billion into the BUD Fund, and launched rounds of enhancement measures to better support local enterprises, including among others -

  1. extending the geographical coverage of the funding support from the Mainland (the Mainland Programme) to the member states of the Association of Southeast Asian Nations (ASEAN)1 (the ASEAN Programme), and then further to all economies with which Hong Kong has signed Free Trade Agreements (FTAs)2 (the FTA Programme);
  2. increasing the cumulative funding ceiling per enterprise successively, from HK$500,000 to HK$2,000,000, and then further to HK$4,000,000; and
  3. increasing the ratio of initial payment from 25% to up to 75% of the approved government ceiling.

To further support Hong Kong enterprises in exploring more diversified markets and capturing the opportunities brought by the Mainland's National 14th Five-Year Plan, the Government further increased the cumulative funding ceiling per enterprise from HK$4,000,000 to HK$6,000,000 in July 2021.  Besides, the government is extending the geographical coverage of the BUD Fund in phases to include all economies with which Hong Kong has signed FTAs and/or Investment Promotion and Protection Agreements (IPPAs) (the FTA and IPPA Programme).  Effective from 14 February 2022, the geographical coverage has been extended to 13 economies including Austria, Belgo-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Mexico, the Netherlands, Sweden and the United Kingdom.  Currently, the geographical scope of the BUD Fund covers a total of 35 economies3.  The geographical scope will be further extended to Kuwait and the United Arab Emirates in the second quarter of 2022.

For details of the BUD Fund, please visit its website (https://www.bud.hkpc.org/en).

1 ASEAN comprises Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

2 These economies, as at January 2022, include the Mainland, ASEAN, Australia, Chile, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Georgia, Macao and New Zealand.

3 The 35 economies currently covered under the BUD Fund include the Mainland, New Zealand, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the ten member states of the ASEAN (comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Georgia, Australia, Japan, Korea, Austria, Belgo-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Mexico, the Netherlands, Sweden and the United Kingdom.