Leopold Chen

Legislative Council members called on the government to provide more favorable and practical packages to attract talents to develop their careers in Hong Kong.

However, Secretary for Labour and Welfare Chris Sun Yuk-han said the government will not offer housing or financial incentives.

On possible strategies to attract talent, Hoey Simon Lee asked if the SAR would follow the practice of Shenzhen and Singapore in providing "huge amounts of funding, generous accommodation subsidies, assurance of autonomy and other complementary services."

"It is learned that some universities in Hong Kong made an effort to invite a structural biologist to join them, but ultimately failed," said Lee, referring to world-renowned biologist Yan Ning, who left her academic post in the United States to work in Shenzhen, an attractive city for international talents.

But Sun said financial incentives would not be provided for all incoming talents, in view of the large demand for workers. "Measures will be implemented for strategic industries, some of which would include financial incentives," he added.

Sun said the government actively cooperates with universities and research institutions to enhance the competitiveness of Hong Kong's innovation and technology industry to attract and retain talents.

He pointed to the Global STEM Professorship scheme launched last year, where local universities are rewarded for hiring internationally renowned innovation and technology scholars.

He said that the number of government-funded research postgraduate places would "increase by more than 50 percent" from 5,595 to 7,200 starting 2024/25.

Lee criticized the government for simply opening the door and providing information to talents, but not actively competing for them.

Jeffrey Lam Kin-fung said the SAR needs to be more proactive - and provide better incentives - to attract talents. He said the government should roll out more measures besides just a stamp tax exemption.

Hoey Simon Lee

'Money talks' in talent race