Facing brain drain, Hong Kong plans $3.8 billion 'trawl' for global talent | CNN Business

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Hong Kong wants international firms to know it means business

The city’s leader, Chief Executive John Lee, announced Wednesday that the government would earmark 30 billion Hong Kong dollars for a new fund aimed at bringing more businesses in. The fund will seek to attract companies to set up operations in Hong Kong, as well as invest in their businesses, he said in a wide-ranging policy address. The move comes after the city witnessed a massive exodus amid some of the world’s strictest pandemic controls, which were recently eased after more than two years.

That should come as welcome relief for businesses in Hong Kong, which had long warned of a brain drain. Before the recent removal of quarantine measures, many workers had expressed frustration over the city’s onerous travel restrictions, which at one point required up to 21 days of hotel quarantine. The measures damaged the city’s economy, and led many multinational companies and expatriates to shift — or consider moving — elsewhere.

 

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Hong Kong is just too cool.

First of all, why people are leaving? He can’t even openly address the root problem. Anyway these new policies targets mainland Chinese as they’re “patriots” - it’s not necessary to have talents to fill the vacancies, let alone overseas talents who imply “foreign interference”.

😂 Naaah 😂🤡

TigrayUnderAttack TigrayGenocede

Ma .va ,non lo sappiamo

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