Chief Executive John Lee Ka-chiu (center) attends Radio Television Hong Kong's English program "Backchat" on Oct 21, 2022 morning to answer questions from the public on "The Chief Executive's 2022 Policy Address". (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

HONG KONG – The leader of the Hong Kong Special Administrative Region said on Friday that the city has the right ingredients and qualities to attract talent and enterprises to the city.

John Lee Ka-chiu made the remarks during a radio talk show in the morning to highlight the measures to recruit talent as outlined in his 2022 Policy Address.

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We have an East-meets-West culture and also we are the freest economy. We are rated as number one for being a business-friendly environment.

John Lee, Chief Executive, HKSAR

The government will be trying to fight for talent and enterprises which it believes in the long run are very significant in the development of Hong Kong, he said.

“We have lost a figure of around 140,000 people in the local workforce in the last two years. And about two-thirds of them are in the managerial or upper-end grades,” said the Hong Kong leader.

“That is why we have rolled out very ambitious plans such as we will be welcoming people who graduated from the top 100 universities from around the world to come to work in Hong Kong. Particularly if they have working experience, we will have no quota.”

New arrangements to allow eligible talent from outside Hong Kong to, upon becoming permanent residents, apply for a rebate from paying extra stamp duties on their first residential properties should also help make the city more attractive to talent and overseas investors, the CE said.

He emphasized that Hong Kong remains attractive due to its unique advantages such as its simple tax regime and low tax rate.

“And it is a very vibrant city (and) very free. We have an East‑meets‑West culture and also we are the freest economy. We are rated as number one for being a business-friendly environment.”

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Lee also explained that his Light Public Housing plan is the fastest way to ease housing concerns as 30,000 units will be built in the coming five years.