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 affirmed that the city's talent admission schemes could contribute approximately 1.2% to Hong Kong's GDP on an annual basis. Over 300,000 individuals had been attracted to the city through these measures, with a significant portion coming from outside mainland China. Lee emphasized that these highly skilled individuals bring higher-paying jobs, thus positively impacting the economy.
He noted that more than half of the talent remaining for at least three years are willing to continue their stay in Hong Kong. The government had received over 61,000 extension applications for these schemes between January and August, out of which around 58,000 were approved. Lee linked this talent drive to Hong Kong's need for manpower, highlighting that the city is experiencing a natural population decline of about 20,000 annually.
He projected that the city's population would remain relatively stable, increasing only slightly due to the aforementioned factors. Lee also mentioned that the government plans to review the talent's stay after three years and has set a target of approving at least 50,000 extensions annually between 2025 and 2027. Moreover, the government is considering adding more AI-related professions to the Talent List and will relax extension requirements for tech start-up operators in the near future.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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