To stay or go? Hong Kong remains the best choice, but it can do more to retain its home-grown talent

Every Hongkonger who moves away is a loss for family and friends, and for the city. While fewer may leave under the BN(O) visa scheme than Britain predicts, we need to create a better city for new talent and existing residents alike

Published: 6:45am, 12 Feb 2021

Kung hei fat choi! Today is the first day of the Lunar New Year, and the official start of spring. In the Chinese tradition, it’s a day for a family reunion. Unfortunately, in this pandemic year, many of us – myself included – will not be able to gather all our family members around the banquet table as usual.

Although we may be separated by distances or quarantines, or simply by an abundance of caution to protect fragile elders, I know we are united in the hope that the Year of the Ox marks the beginning of better days ahead.

For some families, there is a double shadow over this festive season. Hong Kong families separated by pandemic restrictions are also dealing with the possibility of longer-term or even permanent separation, as they consider moving away from the city.

On January 31, the British government opened up an expanded migration scheme through the British National (Overseas) passport that potentially allows up to 5 million Hongkongers a path to eventual British citizenship. The British government expects that around 300,000 may take up this offer over the next five years.

I certainly don’t want to see large numbers of Hongkongers leave. A recent survey by the Hong Kong Federation of Youth Groups suggests that 30 per cent of our young people are contemplating migration. It would be very unfortunate if this happened. Every person who moves away is a loss for family and friends who remain at home, and for our city.

06:15

BN(O) passport holders flee Hong Kong for new life in the UK, fearing Beijing’s tightening control

But I don’t think we will see as many Hongkongers taking up the BN(O) offer as the British government expects. Migration is a highly personal decision. Politics and social issues may play a part in the calculation but, ultimately, the choice comes down to individual advantage: people will seek the best opportunities for themselves. And if you lay out the case – to stay or to go – Hong Kong remains the strongest contender.

We enjoy one of the most open economies in the world: the taxes are low, it is easy to start a business here and there are superb communication and transport links. That’s not changing any time soon – and is going to get even better as the economic and professional opportunities of the Greater Bay Area take hold.

We also have a solid public health infrastructure that has kept us safe during the Covid-19 pandemic, with far lower rates of infection and death than in Britain.

Britain’s visa scheme, described as a “lifeline” to Hongkongers, isn’t exactly generous. You could even say it’s self-serving. If the BN(O) scheme ends up attracting the numbers of applicants expected, these Hongkongers will bring into Britain a potential net gain of up to £2.9 billion (US$4 billion) over five years – a big boost for a country weakened economically by Brexit.

Hong Kong, on the other hand, can afford that US$4 billion loss. And frankly, if you look at the situation with the hard pragmatic eye of an economist or business executive, Hong Kong won’t suffer from the loss of outgoing migrants either. Just like with the other two global financial centres, London and New York, the best talent will continue to come here from all over the world.

04:03

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But as Hongkongers, we see – and feel – the human side of this issue, which affects our community and our society. I know we would all prefer to see our friends and families working and thriving in Hong Kong, rather than struggling in a foreign country where their skills and professional qualifications might not be marketable, and their mother tongue isn’t spoken.

A great world city should attract migrants – but it also needs to do its best to retain home-grown talent.

Hong Kong has experienced waves of migration in the 1960s, 1980s and 1990s – including people who left and then returned home. The positive side of the opportunity to migrate is that it gives our private sector and the government a chance to demonstrate the solid advantages this city offers.

Although that case is already very strong, we can boost it by creating expanded economic and educational opportunities, especially for young people. There are already initiatives under way, but we need to do more to help the next generation meet the changing role that Hong Kong plays within the Greater Bay Area.

And we need to redouble our efforts to create a more liveable and affordable city with a higher quality of life for all. This approach will make sure that we not only draw new talent to our shores – but that we also retain the strengths built over generations in Hong Kong.

Bernard Chan is convenor of Hong Kong’s Executive Council

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