One of the most encouraging measures announced by the Chief Executive in her Policy Address in November was the Greater Bay Area Youth Employment Scheme, which will help Hong Kong graduates gain valuable work experience in the GBA.
HKGCC welcomes this initiative and we encourage our member companies that qualify to take part in the scheme, which will subsidise the salaries of 2,000 graduates. Businesses will be able to hire some of the best talent from Hong Kong’s excellent universities and give our next generation of business leaders access to the tremendous career opportunities emerging in the GBA.
Of the subsidised jobs, 400 are earmarked for the IT sector. Participating companies must pay these graduates a salary of at least $26,000 per month, $18,000 of which will be subsidised. For jobs outside the new economy, the subsidy is $10,000 for salaries of at least $18,000.
Besides the Youth Employment Scheme, the Chief Executive also announced that funding has been provided to help entrepreneurs and start-ups expand into the GBA.
Supporting Hong Kong’s young people is one of the most important ways businesses can ensure our city’s future prosperity. Enabling more of our youngsters to develop their careers in the GBA will open a world of opportunities for them to live and work in this dynamic region.
We have all witnessed the extraordinary development of the GBA. The business community has been calling for barriers to the flow of people between Hong Kong and the Mainland to be removed so that the GBA and elsewhere can benefit from Hong Kong’s expertise and Hong Kong can benefit from expanded opportunities, and these youth support schemes are a great step in that direction.
While we encourage local youngsters to seize the GBA opportunities, that’s not to say that Hong Kong is short of options. Our status as a global city and our East-meets-West culture makes us an excellent launch pad for careers in professional and other service industries.
Hong Kong’s technology and arts industries have both benefitted from government investment in recent years, creating a more dynamic ecosystem for innovative and creative careers than in the past. And our vocational training institutions ensure that we are producing the professionals needed to staff our world-class hospitality and services sectors.
The Chamber has long supported high-school students through our Business-School Partnership Programme. In addition, we will host the finals of the second edition of our Business Case Competition for tertiary students later this month. Last year’s participants set a very high bar, so we are looking forward to seeing the solutions that this year’s finalists have come up with.
Hong Kong’s students have had to contend with huge disruptions over the past 18 months, and they are to be commended for their patience and hard work, but we are now gearing up for a brighter post-Covid future. HKGCC is committed to supporting our city’s young people grasp the huge array of opportunities in Hong Kong, the GBA and beyond.