Hong Kong Business News

Chief Executive John Lee today revealed that the Government will set up a Committee on Education, Technology & Talents to promote Hong Kong as an international hub for high-calibre talent.

Unveiling a raft of measures aimed at building the city’s capacity in terms of knowledge, talent and opportunities, Mr Lee said in his 2024 Policy Address that “education nurtures our future, technology denotes our strength, and talents lead our development.” Initiatives aimed at promoting Hong Kong’s development as an international centre for post-secondary education and strengthening youth development were also announced.

The Committee on Education, Technology & Talents will be led by the Chief Secretary and will co-ordinate and drive the integrated development of education, technology and talents, expand connections, formulate policies to attract and cultivate talents, and foster the development of technologies.

Highlighting that around 160,000 individuals have come to Hong Kong under the talent admission regime, out of more than 380,000 applicants, Mr Lee stressed that various aspects of it needed to be reformed to cover a projected shortfall of around 180,000 workers across different sectors over the next five years.

Specifically, the Talent List will be updated to cover personnel required for the development of Hong Kong in eight key areas. In addition, the list of universities under the Top Talent Pass Scheme will be expanded to 198 by adding 13 top Mainland and overseas universities. The validity period of the first visas awarded to successful high-income applicants under the scheme will be extended from two to three years.

The General Employment Policy and the Admission Scheme for Mainland Talents and Professionals will be enhanced to attract experienced specialists in specific skilled trades that face acute manpower shortages. A new mechanism will also be introduced under the Quality Migrant Admission Scheme, allowing high-calibre talent to be proactively invited to come to Hong Kong. Moreover, a pilot arrangement that includes graduates from Greater Bay Area (GBA) campuses of Hong Kong universities under Immigration Arrangements for Non-local Graduates will be extended for two years.

Meanwhile, Hong Kong Talent Engage (HKTE) will step up promotion of its online platforms to offer comprehensive information on salaries, taxation, education, visas and more. It will also expand its network of collaborative partners, hold online and in-person job fairs, organise another international talent forum, and conduct overseas promotion.

With regard to promoting Hong Kong’s development as an international hub for post-secondary education, Mr Lee said the Government will set up a Hong Kong Future Talents Scholarship Scheme for Advanced Studies, beginning in the next academic year. The scheme will offer scholarships each year to up to 1,200 local students enrolling in designated postgraduate programmes.

The Chief Executive also announced the creation of the “Study in Hong Kong” brand, explaining that this will involve hosting international education conferences and exhibitions, enhanced collaboration and exchanges between local post-secondary institutions and their counterparts around the world, and increased emphasis on attracting overseas students through scholarships and other incentives.

He added that efforts will be made to improve accommodation for students through a pilot scheme aimed at streamlining the processing of applications to convert hotels and other commercial buildings into student hostels. The Government will also make available suitable sites for the private sector to build new hostels, having regard to market demand.

Also in the educational realm, Mr Lee said a bill will be introduced next year to improve the regulatory and quality assurance mechanisms of self-financing post-secondary institutions. He added that the Government has earmarked over 80 hectares of land in the Northern Metropolis for a Northern Metropolis University Town, and will encourage local post-secondary institutions to develop branded programmes, research collaboration and exchange projects with renowned Mainland and overseas institutions.

The Chief Executive highlighted that following recognition of the Hong Kong Metropolitan University as the city’s first university of applied sciences (UAS), a UAS alliance will be established this year. It will embark on joint promotion and strengthen collaboration with UAS institutions around the world. The Government has allocated a startup fund of $100 million for the alliance.

Mr Lee added that the Government will build a campus for the Vocational Training Council’s newly established Hong Kong Institute of Information Technology.

Meanwhile, the Education Bureau will establish a Steering Committee on Strategic Development of Digital Education to promote digital education, renew the Junior Secondary Science Curriculum and provide support for teachers in using AI in teaching.

In terms of broader support for teachers, the Government will allocate $2 billion to set up a Teacher Professional Development Fund to support the long-term development of the profession. About $470 million will be allocated to enhance the learning and teaching of English, Putonghua and other languages.

Turning to the housing needs of young people, Mr Lee said the Hong Kong Housing Authority will allocate an extra ballot number to young family applicants and one-person applicants under 40 with White Form status for the purchase of Home Ownership Scheme (HOS) flats from the next HOS sale exercise onwards. Starting from the next White Form Secondary Market Scheme (WSM) exercise, the WSM quota will increase by 1,500, with all of the additional places going to young family applicants and one-person applicants under 40.

Moreover, a “Youth Post” hostel and spaces for cultural and arts exchanges will be created for young people at the Kai Tak Community Isolation Facility, and a physical platform for interaction will be set up for “Youth Link” members at the Nam Cheong District Community Centre.

The Government will establish a new interactive space and set up a video studio at the Youth Square in Chai Wan, and launch a new round of the Funding Scheme for Youth Life Planning Activities, which invites NGOs to provide enhanced services and national affairs content. The Hong Kong Jockey Club will contribute $300 million to support these initiatives.

Mr Lee said the GBA Youth Employment Scheme will be enhanced through a relaxation of eligibility requirements, meaning young people aged 29 or under with sub-degrees or higher qualifications will be able to join the scheme. The Youth Employment and Training Programme will also be refined, with the upper age limit for participants rising to 29. Additional workplace attachment opportunities will be provided in the GBA under the programme.

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