Hong Kong's Lee delivers maiden policy address

Hong Kong's leader on Wednesday unveiled a new visa scheme to seek global talent.

Chief Executive John Lee said the new Top Talent Pass Scheme will allow those graduates from the world's top universities to work or pursue opportunities in the city for two years.

Over the last two years, the city's workforce has shrunk by about 140,000 people. Lee also announced a raft of proposals — including tax rebates and relaxed measures for hiring foreigners — to boost the city's competitiveness. Processes will also be streamlined for companies to employ foreigners in designated professions, with plans to set up a new task force to formulate recruitment strategies and provide support for newcomers.

The city's population in mid-2022 dropped 1.6% from a year earlier, falling by 113,200 residents, according to government statistics in August.