Transcript of remarks of press conference on Government&#39;s measures on &quot;Competing for Talents and Enterprises&quot; (23.12.2022)
23.12.2022

The Chief Secretary for Administration, Mr Chan Kwok-ki and the Financial Secretary, Mr Paul Chan, held a press conference on Government's measures on "Competing for Talents and Enterprises" this afternoon (December 23). Also joining were the Secretary for Financial Services and the Treasury, Mr Christopher Hui; the Secretary for Commerce and Economic Development, Mr Algernon Yau; the Secretary for Innovation, Technology and Industry, Professor Sun Dong; and the Secretary for Labour and Welfare, Mr Chris Sun. Following is the transcript of remarks of the press conference: Reporter: Regarding the list that we just talked about, where are these enterprises usually from so far? Are there companies from the West? And is Hong Kong Government worried about its effort to attract companies from the West being curtailed by the present geopolitical challenges? Second question, given the strong emphasis to attract foreign talents, how did the Government also make sure that home-grown talents would be able to get all the opportunities that they so want and need, and what are some of the policies and financial initiatives to ensure home-grown talents would also stay put? Thanks. Financial Secretary: Those companies include both Mainland companies and companies from the international community. Your question about whether these companies are concerned about sanctions-related issues given the current geopolitical situation - you know, under the "one country, two systems" arrangement, Hong Kong is in a unique position in terms of acting as a bridge between the Mainland and the world. And it is not just a bridge, but also an entry point to the Mainland market, particularly the Greater Bay Area market. And here, the legal system is different, for example, the common law system and the intellectual property protection law. Our attractiveness is also in terms of lifestyle, in terms of liquidity (of our financial markets). So for many of those international companies, Hong Kong remains a very attractive place. So I'm confident that we'll be able to attract those companies to come. Chief Secretary for Administration: Regarding the talents and professionals coming to Hong Kong, I think the main attraction is the economy of Hong Kong – whether there are many big companies or international companies (that) would like to settle and expand their business in Hong Kong. This is the main source of attraction for foreign professionals and talents, coupled with the relaxation of immigration policies, such as to extend the (limit of stay of employment visas) to three years and also allow the foreigners to bring in their dependents, their wives and kids. I think these are additional attractions and these are good points. I think they will be eager to or willing to stay in Hong Kong to develop their own career. I think, once again, the economy in Hong Kong is the biggest attraction. Reporter: How to make sure home-grown talents also get the opportunities? Chief Secretary for Administration: You can see that we have just released the Youth Development Blueprint. We have a single chapter (in The Chief Executive's 2022 Policy Address) for youth development in Hong Kong. So the Hong Kong Government is very concerned about the development of young people in Hong Kong. Under (the blueprint), we have many initiatives helping young people in Hong Kong to develop themselves, including their academic studies, purchase of properties and how to create their own business. We have all these kinds of assistance to them. With all the assistance, I'm sure the young people in Hong Kong have a very bright future, coupled with the fact that Hong Kong will integrate into our country's national strategies, such as the Belt and Road Initiative. I think this is a big engine to boost our economy. I think for our young people, we have a very good future in Hong Kong. (Please also refer to the Chinese portion of the transcript.) Ends/Friday, December 23, 2022 Issued at HKT 20:25 NNNN