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In a rapidly evolving financial market environment, cooperation between Hong Kong and the Chinese Mainland continues to advance. On 3 August 2026, the China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) jointly announced a series of new measures covering a wide range of areas, including listing and fundraising, index cooperation, futures products, exchange‑traded funds (ETFs), the internationalisation of financial institutions, green finance and professional qualification facilitation. These measures aim to further strengthen the connectivity between the two markets, enhance operational efficiency and open up additional possibilities for future financial development.Overview of the New Development Measures:1. Continuing to support eligible Mainland enterprises in raising funds through listings in Hong Kong, eligible Hong Kong-listed companies in seeking listings in the Mainland, and eligible Hong Kong enterprises in issuing bonds in the Mainland, so as to enable them to better leverage the markets and resources of both places for financing and development;2. Supporting index providers in both places to strengthen cooperation and launch more indices based on Chinese assets, thereby enhancing the international profile of Chinese indices and Chinese assets;3. Deepening cooperation between the futures markets of both places to support the launch of a wider range of RMB-denominated and settled futures products in Hong Kong;4. Supporting institutions in both places to launch more ETF products based on the two markets and oriented toward China’s modern industrial system, and implementing a fast-track registration mechanism for conventional equity ETF products;5. Supporting securities firms and fund companies with solid capabilities, sound operations and high management standards in expanding overseas in accordance with the law and using Hong Kong as a base to develop their international business in an orderly manner, with a view to advancing the development of first-class investment banks and investment institutions;6. Promoting pilot programmes for listed companies in both places to disclose climate-related transition plans, with a view to jointly advancing the development of green finance; and7. Exploring ways to encourage and support securities and futures professionals working at Hong Kong banks in applying for relevant Mainland professional qualifications through a streamlined process.Building on the above initiatives, the two markets will further strengthen regulatory coordination and deepen their participation in global financial governance, providing a solid foundation for the stable and healthy development of both markets.The new regulatory measures include:1. Continuing to strengthen regulatory cooperation on issuance and listing across the two markets, and advancing cross-boundary two-way direct financing for eligible enterprises in an orderly manner, with a view to fostering complementary strengths and coordinated development between the two markets;2. Continuing to strengthen regulatory cooperation between the two markets on the supervision of intermediaries, enhancing risk monitoring and information-sharing mechanisms, and promoting the sound and compliant operation of industry institutions; and3. Deepening engagement in global financial governance and regional regulatory cooperation, and jointly promoting the stable and healthy development of regional capital markets.For more details, please visit the SFC’s website and stay updated on the latest policy development!

In today’s rapidly evolving business environment, small and medium-sized enterprises (SMEs) have to continuously seek new avenues for breakthrough and growth. To help enterprises capture emerging market opportunities, the BUD Fund has recently introduced a series of enhancement measures to further strengthen support for SMEs.The Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) provides funding support to non-listed Hong Kong enterprises in developing their businesses in the Chinese Mainland and other target markets, including those with which Hong Kong has signed Free Trade Agreements (FTAs) and/or Investment Promotion and Protection Agreements (IPPAs), through developing brands, upgrading and restructuring operations, and promoting sales. The cumulative funding ceiling per enterprise under the BUD Fund is HK$7 million.There are 3 types of applications under the BUD Fund:General application: the major type of application which covers an array of fundable measures with a funding ceiling of HK$800,000 per application;“Easy BUD”: involves designated measures with a funding ceiling of HK$150,000 per application. Its processing time is 30 working days as compared to the 60-working-day performance pledge for other BUD Fund applications;“E-commerce Easy”: assists enterprises in developing the Chinese Mainland and 10 member states of the Association of Southeast Asian Nations (ASEAN) markets through electronic commerce (e-commerce) business. The funding ceiling per application is $800,000 and the cumulative funding ceiling per enterprise is $1 million (counted towards the $7 million funding ceiling under the BUD Fund).To support SMEs in enhancing their competitiveness, the Government rolled out a host of enhancement measures with effect from 15 June 2026, including:expansion of the geographical scope of the BUD Fund by 20% to cover Saudi Arabia, Bangladesh, Egypt, Hungary, Pakistan, Kazakhstan, Mongolia and Brazil for general BUD and Easy BUD applications;increasing the funding ceiling per “Easy BUD” application by 50% from $100,000 to $150,000; and(c) providing more targeted funding support for enterprises to implement BUD Fund projects which involve artificial intelligence (AI) elements.Furthermore, in anticipation of the consolidation of the SME Export Marketing Fund into the BUD Fund on 1 July 2026, Trade and Industry Department has updated the guidelines to provide more detailed explanations regarding exhibitions and a reference list of past approved exhibitions.For details, please visit the BUD Fund website.Note:The geographical coverage of the BUD Fund includes 48 economies, namely, the Chinese Mainland, 10 member states of the Association of Southeast Asian Nations (ASEAN) (comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Australia, Chile, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Georgia, Macao, New Zealand, Japan, Korea, Austria, Belgo-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Mexico, the Netherlands, Sweden, the United Kingdom, Kuwait, the United Arab Emirates, Türkiye, Bahrain, Peru, Saudi Arabia, Bangladesh, Egypt, Hungary, Pakistan, Kazakhstan, Mongolia and Brazil.