Talent schemes moving way ahead of target

Stacy Shi

Hong Kong has seen a strong response to its talent schemes, receiving more than 320,000 applications by the end of last month and approving 200,000 of them.

Of those getting the green light, 130,000 have moved here, exceeding the target of attracting 105,000 people of talent in the three years leading up to 2025.

Factoring in family members, a total of around 250,000 people have arrived.

According to the Labor and Welfare Bureau, the influx is expected to have a "positive impact on Hong Kong's labor force and inject momentum into the development of the local economy."

A survey conducted last year among people with the top skill levels who have been here more than six months found that 54 percent of them have secured jobs, mainly in financial services, innovation and IT and business/trade sectors - Hong Kong's core industries.

Their median monthly income was around HK$50,000, with a quarter earning HK$100,000 or more, and 10 percent receiving HK$200,000 or more.

Based on the poll, the bureau projects that these people who arrived last year will bring about HK$34 billion per annum in direct economic contribution, or around 1.2 percent of gross domestic product.

The Hong Kong Talent Engage platform has also processed over 22,000 inquiries since its launch in December, covering topics like employment, talent admission schemes and visa applications.

The bureau said HKTE will visit key mainland cities with eligible universities such as Beijing, Shanghai and Wuhan, as well as southeast Asian, European and north America countries in this financial year to recruit people of talents and promote Hong Kong's unique strengths as an international talent hub.

It will also augment the information presented on its online platform with the aim of increasing the number of page views from 2.23 million last year to six million this year.

It will also attract more social media post impressions and followers and expand its talent support network by increasing the number of working partners from the existing 50 to 80.