Hong Kong Accelerates Housing and SME Support in New Policy Address

Chief Executive John Lee announced a package of measures aimed at speeding up housing supply and strengthening small‑ and medium‑enterprise growth. The government will complete all 30,000 Light Public Housing units by the end of March next year, ahead of the original schedule, and plans to produce more than 35,000 units per year on average from 2027‑28, a 73 % rise over the previous five‑year period. Ten SME support initiatives were unveiled, including expanding the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) to Uzbekistan and Qatar, targeted funding for artificial‑intelligence projects, and a one‑year extension of 20 free‑buyer credit checks by the Hong Kong Export Credit Insurance Corporation. Additional support will come from the Trade Development Council, the Trade & Industry Department, and the Hong Kong Monetary Authority, which will enhance data sharing with Shanghai and ASEAN electronic port systems. Cyberport will provide matching funds for AI and cybersecurity solutions, while subsidies will cover intellectual‑property valuations and logistics technology that interfaces with the Port Community System. A three‑tier mechanism for resolving building‑management disputes—starting with District Council mediation, followed by Home Affairs Department services, and court recourse—will also be introduced.