Attracting Talents and Investment from Outside Hong Kong

84. With the development of a knowledge-based economy, the competition for talents has become worldwide. Hong Kong needs not to only invest in local human resources, but also attract talents from other parts of the world. This will be of significant value to our economic restructuring and future development. Over the past few years, the Government has, on a progressive basis, reduced the time it takes to process the admission of professionals from abroad to work in Hong Kong, and we have launched new schemes to admit skilled people and talents from the Mainland. Depending on demand, we will look at accelerating the admission of qualified people from the Mainland to work in Hong Kong, and encourage more foreign talents as well.

85. Our immigration policy recognises that overseas workers can greatly benefit our economy, including investors who set up businesses. They are welcome to work and stay in Hong Kong. The drawback of the existing system is that it prevents people who only invest capital and do not participate in the operation of any business from living in Hong Kong. As globalisation gains momentum, various countries are adjusting their policies to facilitate the free movement of both talents and capital. The Government is actively reviewing its immigration policy with a view to relaxing restrictions on the entry of overseas investors to Hong Kong and eliminate all unnecessary restrictions and barriers.

86. Hong Kong is a cosmopolitan city. Our community is made up of many ethnic groups who have lived here in peace and harmony over many years. With more people here from the Mainland and other countries, Hong Kong people must continue to embrace a high degree of social tolerance, be courteous to our visitors and treat them as equals. There is no room here for racial or regional discrimination. I have asked the Home Affairs Bureau, the Education and Manpower Bureau and other organisations such as the Committee on the Promotion of Civic Education to examine how we can reinforce the ideals of harmony and equality through publicity and education.