Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc
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- Examination of Estimates of Expenditure 2012-13
Question : How much resources will be allocated by the Government in the 2012-13 financial year to support the Consumer Legal Action Fund? Asked by : Hon. LEE Wai-king, Starry Reply : Upon the establishment of the Consumer Legal Action Fund (CLAF) in 1994, the Government injected $10 million into the Fund. Subsequently, in May 2010, an additional $10 million was injected. As at 31 December 2011, the balance of the CLAF stood at $19.83 million. To ensure that sufficient resources are available under the CLAF to assist consumers with meritorious claims, the Government will closely liaise with its trustee, i.e. the Consumer Council, and monitor its financial position.
Question : The Financial Secretary states in paragraph 120 of the Budget Speech that it is proposed to set up a dedicated fund of $1 billion. The fund aims to help Hong Kong enterprises tap the Mainland market by restructuring and upgrading their operations, developing their brands and expanding domestic sales in the Mainland. Please provide details on the dedicated fund, its various items and the funding required for each item. Asked by : Hon. LEUNG Kwan-yuen, Andrew Reply : To support Hong Kong enterprises, in particular small and medium enterprises, to capture the opportunities arising from the National 12th Five-Year Plan, the Chief Executive announced in the 2011-12 Policy Address a proposal to set up a dedicated fund of $1 billion to encourage them to move up the value chain and explore and develop the Mainland market through developing brands, restructuring and upgrading their operations and promoting domestic sales in the Mainland. The fund would comprise two parts: (i) to provide funding support to individual Hong Kong companies to assist them in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland market, so as to enhance their competitiveness and facilitate their business development in the Mainland market; and (ii) to provide funding support to non-profit-distributing organisations for them to undertake large-scale projects which aim to assist Hong Kong enterprises in general or in specific sectors to develop brands, upgrade and restructure business operations and promote sales in the Mainland market, so as to enhance their competitiveness in the Mainland market. We have consulted the trade earlier and are finalising the operation details of the fund. We plan to seek funding approval from the Finance Committee of the Legislative Council in April with a view to launching the fund by mid 2012.
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