Deep Dive: Hong Kong’s Top Talent Pass Scheme brings top grads to the city, but many can’t find jobs

Hong Kong launched its Top Talent Pass Scheme in December 2022. The goal of the scheme is to attract top graduates from around the globe, as well as professionals and entrepreneurs. Authorities hope it could counter the city’s brain drain following the Covid-19 pandemic.

By September 30 of this year, 81,463 two-year visas had been approved. The Immigration Department received 100,972 applicants, exceeding the original target of 35,000 yearly. A total of 66,109 visa recipients have already arrived in Hong Kong.

However, getting a visa doesn’t guarantee a job. A government source said the employment rate for top talent from the list of recognised universities was around 50 per cent.

Kira Xiong is a 23-year-old finance graduate from Shenzhen. She has degrees from universities in Melbourne and Sydney. She arrived in Hong Kong in July and hoped to find a job in finance.

Xiong spent nearly three months sending out more than 100 resumes. She also lowered her salary expectations and considered work not related to her majors. Finally, she settled for an administrative job in a local company.

Cambridge economics graduate Peter Zhang, 24, secured a junior financial analyst position in March. It took him around six months to find a job. He sent more than a dozen resumes.

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At one job interview, he competed with over 100 candidates for three available junior positions. Nearly half of them were also top talent visa holders.

Mainland entrepreneur Liang Jin, 52, came to Hong Kong to expand his new energy battery business.

But he quickly encountered a big problem. There are strict mainland capital controls and no designated remittance channels for those in the top talent scheme.

Under mainland rules, individuals can transfer a maximum of US$50,000 yearly. They can carry 20,000 yuan (US$2,810) in cash each time they cross the border and withdraw up to 100,000 yuan a year from mainland accounts in Hong Kong.

Desperate to fund his business, Liang maxed out the annual bank transfer limit. He made weekly trips between Shenzhen and Hong Kong for several months, personally carrying the maximum 20,000 yuan on every trip.

He also applied for local entrepreneurship funds. He arranged for his mainland employees to work in Hong Kong on business visas instead of hiring locally to keep costs down.

“The government wants entrepreneurs to create businesses and jobs here, but without easy access to our own money, we’re forced to seek local funds and hire no local people,” he said.

Staff writer

1. Which of the following is true based on News?
(1) Hong Kong exceeded its target for scheme applicants by more than 20,000.
(2) Many top talent visa holders are forced to lower their salary and work expectations to find a job.
(3) Mainland individuals in Hong Kong can transfer a maximum of US$50,000 a year.
(4) The employment rate for those in the top talent scheme is around 30 per cent.

A. (1), (3) only
B. (2), (3) only
C. (2), (4) only
D. (1), (4) only

2. Based on the information in News and your own knowledge, why are top talent visa recipients struggling to find work?

3. What obstacles did Liang face in his career path as a Top Talent Pass Scheme recipient?

1. What does this cartoon imply about the Top Talent Pass Scheme?

2. Based on News and your knowledge, how might top talent visa holders feel about these employment struggles?

• Government should add stricter background checks and consider which sectors have labour shortages when approving visas, some say

• Concerns have been raised about the scheme’s lack of diversity, as most visa recipients come from mainland China

As the Top Talent Pass Scheme approaches its second anniversary, some have called for a comprehensive review of the programme, including adding stricter background checks.

Many have also raised concerns about the scheme’s lack of diversity, as nearly 95 per cent of those approved for the visa come from mainland China.

The Hong Kong Top Talent Services Association, set up by lawmaker Jesse Shang Hailong to help new arrivals adapt to the city, now has more than 1,000 members.

A survey conducted by the association last year found that a quarter of newcomers were keen to set up businesses in Hong Kong. That could mean creating 1,000 new companies by mid-2025, it said.

But Fang Ruzhi, 38, a member of the association, said this would not be easy to achieve as the talent scheme’s “pain point” was that it did not have a way for entrepreneurs to remit their capital from the mainland.

A government spokesman said the administration had been discussing the issue with mainland financial regulatory authorities.

“For cross-boundary remittance arrangements for mainland talent entering Hong Kong under the Top Talent Pass Scheme, we will, taking account of their practical needs, explore facilitation arrangements with mainland authorities concerned as appropriate,” he said.

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With the first batch of top talent completing two years in Hong Kong soon, authorities have adjusted their focus from attracting workers to keeping them.

In his third policy address, Chief Executive John Lee Ka-chiu said retention measures would include extending the first visa granted to high-income talent from two to three years. Between 2025 and 2027, the government aims to approve at least 50,000 visa extensions annually from those admitted under various talent schemes.

He also expanded the list of top global universities to a total of 198. The latest 13 additions were four British and American universities specialising in arts and design, and nine mainland institutions.

In addition, the scheme’s online platforms will be revamped to include comprehensive information on salaries, taxation, education and visas. They will also provide personalised help to newcomers.

Lawmaker Wendy Hong Wen said it was ironic that skilled individuals were struggling to find jobs in a city that often complained about a shortage of manpower.

She said that the government could look more closely at the type of talent needed and introduce restrictions on those applying to come.

“Simply adding more recognised universities won’t help much in matching talent with what the city needs, but only leads to more talent redundancy,” she said.

Staff writer

1. Based on Issue, which of the following statements is true?
(1) Eighty per cent of those approved under the Top Talent Pass Scheme so far are from the mainland.
(2) Hong Kong authorities are now focusing on retaining top talent rather than attracting it.
(3) There could be 1,000 new companies by mid-2028 because of the scheme.
(4) As the scheme nears its second anniversary, some have suggested adding more restrictions to the programme.

A. (1), (2) only
B. (2), (3) only
C. (2), (4) only
D. (3), (4) only

2. Using Issue, name TWO measures Hong Kong authorities have implemented to curb unemployment among top talent visa recipients.

3. What concerns does lawmaker Wendy Hong Wen express about the Top Talent Pass Scheme? To what extent do you agree with her? Explain using News, Issue and your own knowledge.

1. Using Graph, make TWO observations about Top Talent Pass Scheme recipients.

2. Using the information in News and Issue, what point was overlooked for applicants from mainland China, and what problem did it create?

Top Talent Pass Scheme: an initiative designed to attract highly skilled individuals worldwide to live and work in Hong Kong. Launched in December 2022, the scheme aims to address labour shortages and enhance the city’s competitiveness. Graduates from the world’s top universities and individuals with specific professional skills or work experience can apply for a two-year visa to live and work in Hong Kong.

brain drain: when many educated and highly skilled people leave their homes to live and work somewhere else, often because the pay and conditions are better

capital controls: policies put in place by the government or another regulatory body to limit how much foreign money goes in and out of the local economy.

remittance: the transfer of money, usually across borders and to a different country.

third policy address: the policy address is a yearly speech given by Hong Kong’s chief executive. It outlines the government’s plans for the year. In his third policy address, Chief Executive John Lee Ka-chiu explained initiatives focused on economic recovery, housing, and improving public services.

retention: to keep or hold on to

talent redundancy: when a business no longer needs an employee’s role to be done by anyone

1. B

2. Hong Kong aimed to bring in 35,000 top talent visa holders each year for the past two years, yet that number has exceeded 80,000. There are simply too many qualified candidates applying for a limited number of jobs. Few of them will actually be able to get the jobs they want and are qualified for.

Both Zhang and Xiong are examples of this. Xiong sent out more than 100 resumes to settle for a job below her expectations, while Zhang found that he was competing with around 100 other candidates for three available positions.

3. Liang, who was looking to expand his business, struggled because of strict mainland capital controls and no designated remittance channels. There are limitations to how much money he can transfer and withdraw. This is a huge setback for someone running a business, and Liang was forced to travel to and from Shenzhen weekly to get past these restrictions. This left him feeling burnt out.

1. The cartoon implies that the talent scheme looks desirable from the outside, as portrayed by the man standing with open arms in front of the Top Talent Pass Scheme sign. The man has a glowing halo, indicating the supernatural nature of the scheme. In reality, visa holders may struggle to succeed, as portrayed by the money bags hidden within the Top Talent Pass Scheme maze.

2. The top talent visa holders likely feel frustrated, burnt out, and misled. The scheme promised great opportunities in Hong Kong, yet most of the visa holders are either unemployed or settled for a job below their salary and status expectations.

1. C

2. Hong Kong authorities will implement stricter background checks on applicants and focus on retention versus attracting new applicants to the scheme.

3. Hong felt that the government’s suggested measures were insufficient for mitigating the job hunt struggles for overseas skilled talent. She thought the government could be more intentional with the visas and look at what sectors were short of manpower. This would require more specific restrictions when reviewing the applications. She also scoffed at John Lee’s solution of adding more universities to the talent scheme, saying it would lead to “talent redundancy”.

1. The graph shows that the number of people whose applications were approved under the talent scheme is drastically skewed toward mainland Chinese. These applicants number over 24,000. The total number of approved applicants from other nationalities is less than 1,000. Canada has the second-highest number of approved applicants, at 290.

2. The scheme does not account for the withdrawal and transfer restrictions for mainland Chinese in Hong Kong. Therefore, mainland entrepreneurs cannot remit their capital from the mainland. A quarter of top talent visa scheme holders say they want to start a business, but since a majority of them are from the mainland, these restrictions make it difficult to do so.