Legislators from the Business and Professionals Alliance (BPA) are calling on the government to introduce urgent relief measures for small and medium enterprises (SMEs) as the ongoing global trade war continues to weigh heavily on Hong Kong's business sector.
During a media briefing on Wednesday, BPA lawmakers urged authorities to take concrete steps to help companies manage cashflow and maintain operations.
Among their proposals: allowing SMEs to defer loan repayments and improving access to financing through local banks.
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"The situation is tough," said BPA lawmaker Jeffrey Lam. "Some businesses are already considering relocating production facilities to ASEAN countries.
But moving operations isn't as simple as packing up and leaving it involves securing land, installing equipment, training staff. That takes months, and during that time, they're still paying a premium for goods."
Lam emphasized the critical role SMEs play in Hong Kong's economy, calling them the "lifeline" of local commerce and a central force behind economic growth in the Special Administrative Region (SAR).
The group also urged the government to intensify efforts to attract foreign companies by establishing a fund that offers grants to leading enterprises willing to set up or expand in Hong Kong.
With businesses facing uncertain timelines and tight margins, the lawmakers argue that proactive, targeted support is now essential not just for survival, but for sustaining Hong Kong's competitive edge in a shifting global economy.
