Hong Kong talent schemes could add 1.2% to GDP annually: John Lee
Talent attracted to Hong Kong under various admission schemes could add about 1.2 per cent to the city’s gross domestic product (GDP) each year, according to the city leader, who said more than half of those reaching the three-year mark were willing to stay. Chief Executive John Lee Ka-chiu said on Friday the government had attracted more than 300,000 people through its talent measures, with…
Chief Executive John Lee Ka-chiu announced on Friday that Hong Kong's talent schemes could contribute an estimated 1.2% to the city's GDP annually. The government has already attracted over 300,000 individuals through various talent admission schemes, with a significant portion coming from outside mainland China. According to Lee, these well-qualified individuals can secure higher-paying jobs, which positively impacts the economy.
The government regularly reviews the status of admitted talent and found that over 50% of those admitted are willing to stay in the city. In the past year, more than 61,000 extension applications were received, of which around 58,000 were approved. Lee emphasized that the city's population is expected to remain flat, with only minor increases due to the combined effect of talent schemes, imported workers, and one-way permit holders from mainland China.
The city faces a projected shortage of about 130,000 workers by 2028, which could rise to around 300,000 without new talent arrivals. To address this, the government plans to consider adding more artificial intelligence-related professions to the Talent List and relax extension requirements for some technology start-up operators.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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