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More HZMB private car quotas set

The governments of Hong Kong and Macau have agreed to increase the regular quotas for Hong Kong cross-boundary non-commercial private cars using the Hong Kong-Zhuhai-Macao Bridge to Macau, the Transport Department announced today.   The decision was made to enhance traffic flow between Hong Kong and Macau, better utilising the bridge, the department said.   It will increase the Hong Kong quota by 1,000, following the earlier quota allocation of 1,800 for Hong Kong.   The additional quota will be distributed in two phases from the second quarter.   Half of the additional 1,000 quota allocations is for company applicants and the other half is for individual applicants. The quotas are valid for no more than three years. The eligibility criteria of quota applications remains the same.   Private cars allocated with Hong Kong quotas will be permitted to access the city of Macau multiple times using the bridge.   The Hong Kong quota allotments will be re-allocated upon expiry thro

Policy Address measures highlighted

Secretary for Commerce & Economic Development Edward Yau today briefed members of the Trade & Industry Advisory Board on initiatives related to commerce and trade in the 2021 Policy Address.   Mr Yau said the Policy Address focuses on integration into national development and states that the developments of Hong Kong and the nation are closely related.   While the nation is the major growth engine and driving force for the global economy, the 14th Five-Year Plan, the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the Qianhai plan, the economic development pattern of not only greater domestic circulation but also domestic and international dual circulation, as well as the Belt & Road Initiative have brought unlimited opportunities for enterprises and professional services providers in Hong Kong.   The city must seize these opportunities and leverage its advantages, Mr Yau noted.   During the meeting, the commerce chief stressed that Hong Kong would continue to be a staunch supporter of free trade and strive to explore more trade opportunities for businesses.   It aims to achieve the goal by participating actively in the affairs of the World Trade Organization and the Asia-Pacific Economic Cooperation, seeking early accession to the Regional Comprehensive Economic Partnership, setting up more overseas economic and trade offices and seeking more liberalisation measures for Hong Kong enterprises under the framework of the Mainland & Hong Kong Closer Economic Partnership Arrangement.   He added that Hong Kong would also work with Mainland organisations to attract foreign investment, promote multilateral co-operation along the Belt & Road and open overseas markets under the national strategy of dual circulation.   Mr Yau also highlighted the support measures for small and medium-sized enterprises (SMEs) in the Policy Address.   The Hong Kong Export Credit Insurance Corporation will launch the Export Credit Guarantee Scheme on a pilot basis early next year and offer a more flexible indemnity ratio to enhance insurance coverage and expedite credit limit approvals, so that SMEs will be in a better position to secure orders and market share.   Moreover, an additional $35 billion of financial commitment for the SME Financing Guarantee Scheme has been approved to extend the application period of the Special 100% Guarantee Product from the end of this year to June 30 next year.   This will help enterprises affected by the epidemic to obtain commercial financing and resolve the liquidity problem, Mr Yau said.   On the convention and exhibition industry, the Government has extended the validity period of the Convention & Exhibition Industry Subsidy Scheme for six months to the end of 2022 and will expand relevant facilities in the long run.   Funds have also been allocated under the scheme to provide a one-off immediate relief to eligible private exhibition organisers, he added.
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