In his third policy address, Chief Executive John Lee Ka-chiu unveiled new measures to attract talent to Hong Kong. These include setting up a committee on education, technology, and talent, updating the Talent List, and expanding the Top Talent Pass Scheme. Lee also mentioned the introduction of “new channels” under Hong Kong’s General Employment Policy and the admission scheme for talent from the mainland.
While the city has seen success in attracting talent, the focus now shifts to retaining them. Hong Kong Talent Engage aims to provide support and resources for incoming professionals, such as visa information, taxes, and salary details. However, challenges like high housing prices and living costs need to be addressed.
Recent government actions, like increasing the maximum loan-to-value ratio for home mortgage loans, have fueled a warming housing market, adding pressure on newcomers seeking accommodation. This highlights the need for a more holistic approach to support the talent that Hong Kong attracts.