Editorial | Cast net more widely to lure global talent to Hong Kong

Global competition for talent is so intense, and the sources of it so diverse, that arbitrary elitist pathways can be counterproductive. Take the concept of graduation from one of 100 nominated “top universities”, a benchmark of Hong Kong’s top talent pass scheme for candidates who do not already meet a high-income achievement test.

That excludes top graduates of institutions ranked highly in particular fields, but not “top 100” on wider criteria, who could be the kind of talent the city needs to help reinvigorate an ageing population. It is good therefore that the government is considering widening its top talent pass scheme to include graduates of institutions outside the present top 100 universities list.

People are eligible for the scheme when they have an annual income of at least HK$2.5 million (US$320,800), or if they have a bachelor’s degree from a university listed in the top 100 in four designated world rankings gained in the previous five years.

Chief Secretary Eric Chan Kwok-ki says institutions might have prestige in some subjects without being considered among the top 100 universities. Officials are looking at whether such schools, including some on the mainland, should be included on the list.

Chan says the city received more than 340,000 applications for the scheme up to July and 210,000 visas had been granted, with 140,000 of the people already in Hong Kong. There is a significant gap between the number of successful applicants and the number who actually move to Hong Kong.