Ayra Wang

The government could build designated residences for high-end talent, as the city's high rents may deter some from moving to the SAR, suggested political heavyweight Tam Yiu-chung.

Tam, the vice-president of the semi-official think tank Chinese Association of Hong Kong and Macao Studies, said Hong Kong has the potential to become a hub for top-tier talent.

"Hong Kong has eight universities with strong global connections, which can help attract talent suitable for promoting the city's development as well as that of the nation," Tam said yesterday.

He added Hong Kong's high salaries and low tax rates could help draw top talent, but the government should not focus solely on attracting talent from the mainland.

But Tam acknowledged the city's exorbitant rents could discourage elites from settling in the city.

He suggested the government provide designated buildings for these talent to rent, alongside other incentives.

"If they move to Hong Kong with their families, the government can also offer tax benefits to their non-working family members and allow their children to receive education in the city," Tam said.

His comments came after the SAR government held seminars to learn the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China on Monday, with government officials, lawmakers and local political heavyweights in attendance.

Tam agreed with the session's conclusion that Hong Kong should reform instead of "living off past gains."

He added: "Although Hong Kong has done a good job in the financial, maritime and trading sectors, it still needs improvement and consolidation, as the city will retreat if we cannot advance."

Tam also said there is no need to worry that the nation's reform will affect the one country, two systems principle. Instead, Hong Kong should make use of its advantages under this principle and innovate during the reform, rather than "completely copying" from the mainland.

He suggested the city enhance cooperation with mainland cities in the Greater Bay Area to launch policy pilot schemes.

Meanwhile, Hong Kong Association for Promotion of Peaceful Reunification of China chairman Yiu Chi-shing suggested Hong Kong should play a role in assisting national development by accelerating the development of new quality productive forces, strengthening the city's status in opening up to the world, and actively being involved in the national and GBA blueprint.

Tam Yiu-chung Sing Tao

Political heavyweight suggests designated housing to lure talent