The government are enhancing policies for youth development and talent cultivation, Chief Executive John Lee Ka-chiu announced in his policy address on Wednesday (Sep 17).
The government will launch a Young Talent Training Programme, allowing youths to participate in the internships of international organizations and attend international conferences, the Hong Kong leader presented.
A new media thematic internship program in the mainland will also be introduced, along with a strengthened Youth Financial Education Programme and new mediation workshops to enrich youth understanding across various industries.
The Home and Youth Affairs Bureau (HYAB) will continue to implement the Funding Scheme for Youth Exchange in the mainland as well as that for International Youth Exchange, facilitating interactions between local and overseas youth.
The eight youth uniformed groups of the Security Bureau will proactively organize international and mainland exchange activities as well.
The Youth Post hostel will officially open this year, providing affordable accommodation for young people from the mainland and overseas. It is also set to organize about 100 youth activities of culture, arts, and sports in its five-year operation period, promoting exchanges between young visitors and Hong Kong youth.
Over 230, 000 people have come to Hong Kong for work since the implementation of talent admission policies. The Top Talent Pass Scheme (TTSP) boasts a renewal approval rate of 55 percent, with professionals primarily working in the I&T and financial sectors, with 95 percent earning above the median income of HK$20,000.
Lee stated that the data reflected a strong demand for TTPS talents and the market's willingness to offer higher salaries to attract them.
TTPS contributes about HK$34 billion a year to the local economy, equivalent to approximately 1.2 percent of Hong Kong’s GDP.
Furthermore, 70 percent of talents admitted to Hong Kong are under the age of 40, helping ease the challenges of an aging population, Lee highlighted.
Hong Kong's ranking in relation to global talents climbed 12 places in two years to the fourth place globally this year, ranking first in the Asia Pacific region. This reflected the effectiveness of the talent policies, the city leader boasted.
The government will also launch the Innovation and Technology Talents Exchange Scheme for Industry and Academic Sectors, encouraging university professors to engage with businesses while inviting industry executives and technical experts to contribute to teaching and curriculum design, strengthening collaborative development.
