HK the best place for talent: CE

October 21, 2022

Voiceover:

Chief Executive John Lee said Hong Kong has the right ingredients and qualities to attract talent and enterprises to the city.

He made the remarks during a radio talk show this morning to highlight the measures to recruit talent as outlined in his 2022 Policy Address.

Chief Executive John Lee: 

We will be trying to fight for talent and enterprises which we believe in the long run are very significant in the development of Hong Kong.

We have lost a figure of around 140,000 people (in the local workforce) in the last two years. And about two-thirds of them are in the managerial or upper-end grades.

That is why we have rolled out very ambitious plans such as we will be welcoming people who graduated from the top 100 universities from around the world to come to work in Hong Kong. Particularly if they have working experience, we will have no quota.

And I have introduced a new arrangement for people to seek an exemption - a rebate as you have described - (on) the extra stamp duties (paid for purchasing their first residential property) that they paid because they have not yet (become) a permanent Hong Kong resident. So once they have achieved that status, then they can claim (this) back.

Voiceover:

Mr Lee emphasised that Hong Kong remains attractive due to its unique advantages.

Chief Executive John Lee: 

Hong Kong is an attractive place. What (is) Hong Kong's DNA? Hong Kong's DNA is, a simple tax regime, tax rate is low. And it is a very vibrant city (and) very free.  And (we) have an East‑meets‑West culture and also we are the freest economy. We are rated as number one for being a business-friendly environment.

Voiceover:

Mr Lee also explained that his Light Public Housing plan is the fastest way to ease housing concerns as 30,000 units will be built in the coming five years.

Chief Executive John Lee: 

What we can do now is within two years, we will be building the first block of Light Public Housing, and that will probably be about 1,000 (units).

Chief Executive John Lee today said Hong Kong has the right ingredients and qualities to attract talent and enterprises to the city.

Mr Lee made the remarks during a radio talk show this morning to highlight the measures to recruit talent as outlined in his 2022 Policy Address.

“We will be trying to fight for talent and enterprises which we believe in the long run are very significant in the development of Hong Kong.

“We have lost a figure of around 140,000 people in the local workforce in the last two years. And about two-thirds of them are in the managerial or upper-end grades.

“That is why we have rolled out very ambitious plans such as we will be welcoming people who graduated from the top 100 universities from around the world to come to work in Hong Kong. Particularly if they have working experience, we will have no quota.”

Mr Lee also said new arrangements to allow eligible talent from outside Hong Kong to, upon becoming permanent residents, apply for a rebate from paying extra stamp duties on their first residential properties should also help make the city more attractive to talent and overseas investors.

He emphasised that Hong Kong remains attractive due to its unique advantages such as its simple tax regime and low tax rate.

“And it is a very vibrant city (and) very free. We have an East‑meets‑West culture and also we are the freest economy. We are rated as number one for being a business-friendly environment.”

The Chief Executive also explained that his Light Public Housing plan is the fastest way to ease housing concerns as 30,000 units will be built in the coming five years.