Policy Statement & Submission

18 February 2022

The Honourable Mrs Carrie Lam Cheng Yuet-ngor, GBM, GBS

Chief Executive

Hong Kong Special Administrative Region

Tamar

Hong Kong

Dear Chief Executive,

HKGCC’s Survey on Talent Exodus

I am writing on behalf of members of the Hong Kong General Chamber of Commerce to convey our concerns over the recurring issue of the drain on Hong Kong’s human capital, which appears to have taken a serious turn for the worse in recent months.

According to the findings of a survey that we conducted a few weeks ago, 38% of our members have been affected by talent flight from Hong Kong and they say they are struggling to fill vacancies.  The situation has been aggravated by the stringent safety measures to combat Covid-19, which has significantly weakened interest among overseas workers to seek employment opportunities in Hong Kong. 

In addition to the high number of companies affected, it is also extremely concerning to note that we are losing qualified workers across a broad spectrum of professions that include information technology, engineering, and finance, and the majority of these are middle managers.  Although businesses are doing their best to cope, SMEs seem to have been disproportionately affected.

We believe it is critical that the Government provide policy support to help turn this tide.  As such, would suggest that consideration be given to the following :-

• Expedite technology adoption in businesses, especially SMEs, through funding programmes and conducting regular reviews to ensure their accessibility;
• Relax immigration policies and enhance existing talent schemes;
• Introduce a rent assistance scheme;
• Review the salaries tax to enhance Hong Kong’s attractiveness as a place to work; and
• Expand childcare support and facilities to raise the female labour force participation rate.

Please find attached the survey report, which details findings from members’ responses.

We urge quick and decisive Government action to prevent a manpower challenge from deteriorating further, which would undermine confidence in Hong Kong among residents and international businesses and damage our ability to stay at the cutting edge of the industries that will ensure our future prosperity.

Yours sincerely,

Peter Wong

Chairman

Att.