Hong Kong’s scheme aimed at luring overseas talent has brought tens of thousands of professionals and their dependents to the city, most of whom are from the mainland, with the government banking on them to bolster a shrinking labor force and mitigate the effects of a low birthrate, reports Caixin.
By the end of February, around 44,000 people had arrived in Hong Kong under the Top Talent Pass Scheme since its launch in December 2022, according to the city’s Immigration Department. Along with them came more than 46,000 dependents, including 27,000 children under 18. Of the nearly 59,000 total applications approved through February, 95% were from the Chinese mainland, according to the department.
Applicants approved under the talent scheme were generally young, with a median age of 35, which is lower than the city’s median age of 48.5, Chief Secretary for Administration Chan Kwok-ki said at an economic forum last week.