Hong Kong must retain the talent its world-class universities nurture

Hong Kong's universities have achieved remarkable success in recent rankings, with all 11 of its ranked institutions making it into Asia's top 500 for the first time. The University of Hong Kong topped the list, followed by City University and the Chinese University of Hong Kong. Polytechnic University and the Hong Kong University of Science and Technology shared ninth place.

While government investment, clear policy direction, and the universities' hard work contributed to this achievement, the reduction in funding by 2% per year over three years has impacted their performance. The universities have had to accept more terms attached to government funding, including clawing back already-disbursed funding and suspension or revocation of funding.

Despite these challenges, the universities have shown resilience and adaptability, particularly the younger institutions that lack the prestige of their century-old counterparts. However, to retain top talent, Hong Kong must do more than just nurture its universities. The recent manpower projection report by the Labour and Welfare Bureau shows a significant drop in full-time job vacancies suitable for university graduates due to the rise of artificial intelligence.

The government must create an environment where talented people want to build their careers and stay in the city.