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Opinion | Mainland travel permits a boon to Hong Kong business community

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5 months ago

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Opinion | Mainland travel permits a boon to Hong Kong business community

As someone who was born in Hong Kong and has lived abroad, I have benefited from our city’s international openness, dynamic multinationalism and flourishing business community.

Many of my friends hail from non-Chinese families who settled here several generations ago and built their bases here, and they passionately identify with this city as their home. One area that is often highlighted to boost cross-border travel is clearance at immigration checkpoints.

With our unique East-meets-West cultural ambience, recreation and dining scene in Hong Kong, we are well-placed to help non-Chinese residents acclimatise to and cultivate deeper contextual expertise on China. Our institutional distinctiveness, common law jurisdiction and quality of life for expatriate workers are all conducive to attracting talented people, capital and firms to Hong Kong.

03:15

What to know: new mainland travel permits for non-Chinese nationals in Hong Kong and Macau

What to know: new mainland travel permits for non-Chinese nationals in Hong Kong and Macau

All these strengths exist on top of the city’s Top Talent Pass Scheme, introduced in late 2022, which has received more than 72,000 applications, among which some 60,000 have been approved. The relaxation of cross-border travel adds to a highly competitive offer for global talent, forming a pathway for these people to capitalise on their expertise and contribute to the development of Hong Kong and beyond.
For leading international firms looking to deepen their trade and knowledge exchange with mainland China, they can tap into Hong Kong as a premier hub for their management and regional executives. The international business community, which includes the American Chamber of Commerce, the European Chamber of Commerce and many others, has voiced its support for Hong Kong’s new business-friendly scheme.
The more interconnectivity there is between Hong Kong and the rest of the Greater Bay Area, the better. Creating easier cross-border travel and greater intensity and volume of people-to-people exchanges is conducive to the deepening of mutual understanding and appreciation between the Chinese people and their friends. Hong Kong can capitalise on this opportunity to attract talented people from Southeast Asia and beyond.
Many friends from Southeast Asia who have lived here in Hong Kong for decades shared their delight with me after reading the news of the visa-free scheme. They see it as a recognition of their contributions towards China’s growth trajectory for years to come. With the new scheme, these overseas friends can now enjoy the international lifestyle in Hong Kong while carrying out their business seamlessly in mainland China.

It is not only the added convenience that they cherish but also the sense of togetherness. In playing their role in serving and building up the resilience of Hong Kong, they are also collectively leaving a positive mark on China’s opening-up to the world at large.

01:58

Hong Kong leader John Lee vows deeper ties with Asean as gateway to mainland China

Hong Kong leader John Lee vows deeper ties with Asean as gateway to mainland China

Hong Kong must capitalise on this opportunity and formulate more measures to attract talented people from Southeast Asia to Hong Kong, an ideal gateway into the mainland.
Businesses across a wide range of industries can engage and collaborate with their counterparts in the region to devise exchanges and programmes to tap into the talent pool. Together, they can form ecosystems covering talent development, in collaboration with overseas and regional partners.

The government could also consider opening the door wider, for instance, by adding top-tier universities in Southeast Asian countries and their graduates to the eligibility list for the Top Talent Pass Scheme.

In the current geopolitical climate of competition and friendshoring, enacting the visa-free mainland travel scheme is a wise move by the central government and Hong Kong’s administration. It adds value to both Hong Kong’s attractiveness as an international hub and shows the world that China knows how to use the one country, two systems framework to secure added value for both Hong Kong and the mainland.

Daryl Ng is chairman of the Hong Kong-Asean Foundation

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