A new round of applications for the Professional Services Development Assistance Scheme opened today, and non-profit-distributing professional, trade or industrial organisations and research institutes are encouraged to apply.

Launched in 2002 with $100 million, the scheme finances projects that aim to increase the competitiveness of Hong Kong's professional services on the Mainland and other markets, and enhance local professional services' standards.

Grants are given on a dollar-for-dollar matching basis, with a maximum amount of $2 million for each project.

The scheme has approved 232 projects, ranging from conferences and training programmes to exchange visits and promotional activities, with a total funding of $80.38 million. Of them, 90 projects are related to enhancing the competitiveness of Hong Kong's professional services in the Mainland.

The Commerce & Economic Development Bureau will organise a briefing session on November 24, while helpdesk services will also be available from that day until applications close on December 31.