Chief Executive John Lee Ka-chiu said on Tuesday that the central authorities’ revised rules on business travel to Hong Kong will draw more talents to the city and generate substantial economic benefits.
He also revealed that over 110,000 professionals have arrived under the Hong Kong SAR government’s various talent attraction policies as of March, which is well ahead of the government’s target of attracting at least 35,000 talents a year.
The National Immigration Administration on Sunday announced a series of updates to the entry and exit regulations to facilitate residents’ trips outside the Chinese mainland.
Starting from Monday, mainland residents who hold business endorsements for Hong Kong will be able to extend their stay in the city to 14 days, double the existing period
Starting from Monday, mainland residents who hold business endorsements for Hong Kong will be able to extend their stay in the city to 14 days, double the existing period. The move is expected to benefit over 100 million companies in the mainland, the administration said.
The talent endorsement, which grants multi-entry permits ranging from one to five years to professionals in six categories, will accept applicants residing in Beijing and Shanghai, effective Monday.
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On Tuesday, Lee, who spoke at the regular press conference ahead of the weekly Executive Council meeting, said the new arrangements will help attract a substantial number of professionals to Hong Kong for business and exchanges, adding that longer stays for business travelers will increase their economic contribution to the city.
He expressed his gratitude to the central government and stated that he will strive for more supportive measures for Hong Kong.
For the Top Talent Pass program launched in December 2022, the government received over 77,000 applications and about 62,000 of them, or 80.5 percent, had been approved, Lee noted. The program is projected to contribute around HK$34 billion ($4.3 billion) to Hong Kong’s economy on a yearly basis, representing 1.2 percent of gross domestic product, Lee underscored.
Hong Kong will host the inaugural Global Talent Summit on May 7 and 8, which will bring together over 7,000 leaders from across the globe to exchange experiences in talent development. A career expo will also be organized concurrently, as part of the summit, to provide positions and settle-in solutions for those who are seeking opportunities in Hong Kong.
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Lee believes the event will better present the city’s advantages and competitiveness as a talent hub, pledging that Hong Kong will continue to play its role as a superconnector and super value-adder.
Welcoming the immigration-rule updates, Tan Yueheng, the chairman of BOCOM International Holdings and a Hong Kong member of the National Committee of the Chinese People’s Political Consultative Conference, said the measures will greatly facilitate mainland business professionals’ travel to Hong Kong for work and exchanges, enabling the city to better play its unique role as an international talent hub and a gateway for the Guangdong-Hong Kong-Macao Greater Bay Area.
Tan suggested that the Hong Kong government should upgrade the city’s business facilities, and consider providing travel, accommodation and transportation concessions to large business groups.
The city’s largest political party, the Democratic Alliance of the Betterment and Progress of Hong Kong, said the new measures have simplified procedures for mainland businesspeople coming to Hong Kong and would further strengthen economic and trade relations between Hong Kong and the mainland.
