Hong Kong talent schemes could add 1.2% to GDP annually, John Lee says

Talent attracted to Hong Kong under various admission schemes could add about 1.2 per cent to the city’s gross domestic product (GDP) each year, according to the city leader, who said more than half of those reaching the three-year mark were willing to stay.

Chief Executive John Lee Ka-chiu said on Friday the government had attracted more than 300,000 people through its talent measures, with around 20 per cent from places outside mainland China.

“These talent will create an extra GDP of probably 1.2 per cent every year because they are very well qualified,” Lee told a phone-in programme, days after delivering his policy address and unveiling the city’s first five-year plan.

“They can do jobs which will receive higher pay and that will reflect the contribution they can make to the economy.”