Financial Secretary Paul Chan Mo-po delivers a speech at the third Hong Kong International Talents Summit on Oct 9, 2023. (PHOTO PROVIDED TO CHINA DAILY)

Financial Secretary Paul Chan Mo-po said Hong Kong is willing to strengthen collaboration in talent development with cities within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as a way of contributing to the development of the GBA and the country.

The finance chief was speaking at the third Hong Kong International Talents Summit, held in Hong Kong on Monday.

Secretary for Labor and Welfare Chris Sun Yuk-han said that one-third of the approved TTPS talents are under 30 years old, about 70 percent are under 40 years old, and more than 90 percent are under 50 years old

He said that, as many nations are striving to attract and retain high-quality talent and professionals, Hong Kong and other cities in the GBA must both compete in the international race to attract talent and make breakthroughs in the development of the area’s talent, in order to achieve high-quality development.

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 “As of September, the Top Talent Pass Scheme had received a total of more than 50,000 applications, and more than 39,000 had been approved. So far, 60,000 talents have come to Hong Kong, exceeding the government's annual target of 35,000 set at the beginning of the year,” Chan noted.

Unveiled in the 2022 Policy Address, the TTPS is an initiative of the Hong Kong Special Administrative Region government to attract high-end professionals with impressive work experience and academic qualifications from all over the world to Hong Kong to solve the current labor shortage, resulting in part from Hong Kong's aging population and its recent emigration wave. The scheme opened to applicants in December last year.

The finance chief also said that, as of last month, under various talent admission schemes, the government had received a total of 160,000 applications, of which more than 100,000 had been approved.

Chan added: “Hong Kong Talent Engage, which is responsible for formulating recruitment strategies and promotion and publicity work for different target talent groups, will build a more comprehensive talent support network with the support of partners, provide talents with life and employment information, help them expand their social network, and enable them to adapt easily when moving to Hong Kong.”

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At the summit, Secretary for Labor and Welfare Chris Sun Yuk-han said that one-third of the approved TTPS talents are under 30 years old, about 70 percent are under 40 years old, and more than 90 percent are under 50 years old. 

“The approved TTPS talents have attained academic achievements or have earned a high salary. They are also very young which is particularly important for Hong Kong, when the city is facing (an) aging population challenge,” Sun said.

The labor affairs chief added that the government has pledged to respond to TTPS applicants within a period of four weeks, thereby ensuring the certainty, transparency and effectiveness of the scheme.