Fostering talent crucial, says Tang

Hong Kong has attracted more than 200,000 professionals from across the world to live and work in the city since the handover, according to Chief Secretary Henry Tang Ying-yen.

Mr Tang, speaking yesterday at a human-resources conference organised by the South China Morning Post, said the city faced cutthroat competition for talented people.

'Increasing competition from other cities in the region for high-quality professionals means we have to work harder than ever to remain the location of choice for businesspeople in Asia,' he told the Human Capital in Greater China conference.

The 200,000 professionals who arrived in the past 10 years did not include those who arrived from the mainland on one-way permits, he said. Since 2003, the Admission Scheme for Mainland Talents and Professionals has seen more than 20,000 successful applicants, including 6,000 last year.

'High-quality education is arguably the most important piece of the puzzle, especially when everyone is talking about sustainability and long-term economic prosperity,' Mr Tang said.

The quota for non-local students was being raised in phases from 10 per cent to 20 per cent.