Hong Kong Chief Executive John Lee Ka-chiu delivers his maiden Policy Address at the Legislative Council on Oct 19, 2022. (CALVIN NG / CHINA DAILY)

The Hong Kong Special Administrative Region government plans to woo about 35,000 professionals annually by casting a wider net to scour for recruits, including a brand-new Top Talent Pass Scheme for those from the world’s top 100 universities and loosen restraints on current talent schemes.

“Over the past two years, the local workforce shrank by about 140,000. Apart from actively nurturing and retaining local talent, the government will proactively trawl the world for talent,” Chief Executive John Lee Ka-chiu said during his maiden Policy Address.

Speaking to the media afterward, Lee said he is confident that the measures will be effective. While Hong Kong’s existing policies attract a certain amount of talent, the new initiatives will certainly do the trick with the new development opportunities the city offers and the new policy tools to cast a wider net and draw talent in, Lee said.

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According to the 2022 Policy Address, a two-year Top Talent Pass Scheme aimed at high earners will be launched to curb the brain drain and encourage overseas professionals to settle in Hong Kong

The scale of the efforts to attract talent across the board is unprecedented, the government said.

According to the 2022 Policy Address, a two-year Top Talent Pass Scheme aimed at high earners will be launched to curb the brain drain and encourage overseas professionals to settle in Hong Kong. An unlimited quota of two-year visas will be provided under the scheme for professionals earning HK$2.5 million ($318,500) or more a year or those who have graduated from the world’s top 100 universities with at least three years of work experience over the past five years.

Graduates of top universities who fall short on work experience will be subject to a ceiling of 10,000 places.

A total of 165 top universities will be included under the scheme as the government will take the four widely-recognized rankings of the world’s top-100 universities.

The government will not request those who are approved under the scheme to work in the city for the first two years.

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In addition, hiring restraints for employing professionals from outside the city will be relaxed. Employers will no longer need to prove a difficulty in hiring locals in 13 professions facing a manpower shortage or for vacancies with an annual salary of HK$2 million or more.

As part of a bold two-year pilot scheme, the Immigration Arrangements for Non-local Graduates permit will also be expanded to cover those graduating from Hong Kong university campuses located in the Guangdong-Hong Kong-Macao Greater Bay Area. Meanwhile, the one-year unconditional stay for non-local graduates will be extended to two years.

The annual 4,000 quota under the Quality Migrant Admission Scheme will also be suspended for two years while the government improves the approval process.

Limits on stays for those with employment visas for all schemes, including the new ones, will also be extended to a maximum period of three years.

Also, the government plans to refund the extra stamp duty that talented professionals pay when purchasing residential flats in the city. Refunds will be made upon application when the talent becomes a permanent resident.

As part of wider efforts to spread the word on talent recruitment, the government will have its 17 mainland offices and overseas economic and trade offices set up a dedicated team for reaching out to target enterprises and professionals, liaising with the world’s top 100 universities, and promoting related schemes.

They will also strengthen links with Hong Kong residents studying or working outside the city, encouraging them to return to the city.