In a recent resolution, the Chinese Communist Party emphasized the importance of leveraging Hong Kong’s ‘one country, two systems’ advantage to solidify its position as an international finance, maritime, and trading hub. The resolution also aims to support Hong Kong and Macau in becoming hubs for international high-end talent and enhancing their contributions to the country’s open-up effort.
The document, endorsed by the 20th Central Committee, underscores the significance of integrating the Greater Bay Area to create an economic powerhouse by linking Hong Kong, Macau, and nine southern mainland cities through connected systems and rules.
Beijing’s move to allow non-Chinese nationals with permanent residency in Hong Kong or Macau to visit the mainland multiple times over up to five years has been hailed as a ‘game-changer.’ Additionally, the Hong Kong government introduced the Top Talent Pass Scheme to attract high-caliber individuals and graduates from top international universities to work in the city, with remarkable success.
Lawmaker Shang Hailong emphasized the need for the government to encourage foreign talent to settle in Hong Kong and contribute to the city’s economic ecosystem by starting their businesses and creating job opportunities.