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Hong Kong economy
Opinion
SCMP Editorial
SCMP Editorial

Editorial | Hong Kong is a beacon of stability for global talent and capital

In an increasingly uncertain world, Hong Kong, backed by the country, continues to be a safe place for investment and opportunities

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A foggy Hong Kong skyline viewed from Victoria Peak on March 3. Photo: Eugene Lee
SCMP Editorial

Investing in the future has become a priority as Hong Kong enters a new critical stage of development. It is encouraging that the government measures seeking to tap more overseas capital and talent have paid off. With the ongoing conflicts in the Middle East and the global environment anything but clear, China and the city continue to provide a haven for investors and professionals seeking good returns.

The HK$95 billion (US$12 billion) drawn from some 1,700 investors under the revamped cash-for-residency scheme is not just the result of a visionary initiative. It is a vote of confidence in Hong Kong’s investment environment and quality of life. Of the 3,166 applications received since the launch of New Capital Investment Entrant Scheme (New CIES) in March 2024, 1,762 investors have completed their commitments and received formal approval from the Immigration Department. The scheme requires a minimum investment of HK$30 million, with no more than HK$15 million allowed in real estate.

As of the end of February, HK$21.4 billion, or 39 per cent, of the total deployed capital of HK$55.6 billion had flowed into professionally managed funds. Equities were the second most popular option, receiving HK$16.1 billion. Debt securities accounted for HK$5.3 billion, while investment-linked assurance schemes and the New CIES investment portfolio together took HK$11 billion. These are genuine benefits that boost the city’s economic vitality and help draw more investment and talent to the city.

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The Global Talent Summit Week later this month is a timely occasion to strengthen promotions on this front. In an era of escalating tensions and uncertainties, the latest including the military flare-up in the Middle East, China stands as a beacon of stability. The strong backing from the country means Hong Kong continues to be a safe place for investment and opportunities.

Under the government’s push to attract overseas talent, more than 270,000 non-locals have settled in Hong Kong as of January 31, with 40 per cent admitted through the Top Talent Pass Scheme. Secretary for Labour and Welfare Chris Sun Yuk-han said the wars in the Middle East highlighted Hong Kong’s attractiveness as a talent hub, one that offered safety and stability. With some 7,000 in-person and 130,000 online participants expected at the summit scheduled for March 18 and 19, the event is a good way to showcase the city’s advantages.
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As China’s annual “two sessions” unfold this week, culminating in the endorsement of the 15th five-year national development plan, the stage is set for sustained and strategic growth. The stability and opportunities offered by the country and the city are everything investors and talent can hope for.

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