Editorial | Extension of business visas double delight for recovering Hong Kong
- Holders of documents in mainland China will be able to enjoy 14 days from next week, and talent scheme will be expanded to Beijing and Shanghai
Another week goes by, and there has been yet another easing of mainland policy that aims to support Hong Kong’s economic growth.
The latest involves mainland business visa holders, who will be able to spend 14 days in the city or Macau, double the current seven, under a relaxation of rules that will take effect from May 6. Support for the two special administrative regions is to be welcomed.
The move by the National Immigration Administration aims to encourage the growth of cross-border business as well as help support new initiatives in the Greater Bay Area.
In addition, a visa scheme for mainland talent that already covers those living in the bay area will be extended to Beijing and Shanghai.
The change, which could benefit tens of millions of mainland companies, follows measures to facilitate listings in Hong Kong and expand the Stock Connect Scheme recently announced by the China Securities Regulatory Commission.
China’s President Xi Jinping has made it a priority to build up the city as an international financial centre, and Xia Baolong, Beijing’s top official here, has told local officials that policy support is being prepared.