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Hong Kong Top Talent Pass Scheme received 3,800 applications in two weeks, 60% approved

The Hong Kong SAR Government launched the "Top Talent Pass Scheme" (known as TTPS) earlier, which has aroused extensive discussions in the Hong Kong society. Mr Chris Sun, JP, Secretary for Labour and Welfare, told in an interview that the response to the scheme has exceeded expectations since its launch on December 28th, 2022, with nearly 3,800 applications received so far, of which about 60% have been approved. Compared with similar talent hunting programs in Singapore, Hong Kong aims to recruit talents in eight major areas, including innovation and technology fields. In an interview with the local media, Mr. Sun, who has just completed his visit to Singapore, said that Hong Kong hopes to recruit talents mainly in the eight areas supported by the Central Government in the 14th Five-Year Plan, including international financial center, international innovation and technology center, Chinese and foreign cultural and art exchange center, international trade center, international shipping center, international aviation hub, international legal and dispute resolution service center in the Asia-Pacific region, and regional intellectual property trade center and the Regional Intellectual Property Trade Center. Among them, the development of innovation and technology centers is particularly important. He believes that international talents should value the opportunities. With the relaxation of epidemic control between Hong Kong and the Mainland, Hong Kong's advantage of being "backed by the motherland and connected to the world" will become clearer, and the economic growth trend of Mainland China will become a huge driving force.

Mr. Sun also pointed out that, Hong Kong and Singapore are actually complementing each other rather than competing with each other. Some companies that have been very successful in Hong Kong have entered the Singapore market, and some Singaporean entrepreneurs have also come to Hong Kong to expand their business, reflecting that the two cities are making use of their respective strengths to create greater returns. In order to apply for TTPS, persons with annual income reaching HK$2.5 million or de