Page 162 - Are You Future Ready?

Apart from capital and networks, more importantly, Hong

Kong attracts more overseas talent due to its open culture.
According to a survey conducted by Invest Hong Kong at
the end of 2018, 35% of entrepreneurs in Hong Kong came
from overseas, among them over 40% from the United

States, the United Kingdom and Australia. At the same
time, INSEAD, a European business school published the
Global Talent Competitiveness Index 2019 where Hong
Kong ranks 27th out of 114 cities in the world, its talent

competitiveness is significantly ahead of mainland cities
160 (Beijing: 58th, Guangzhou: 87th, Shenzhen: 94th). Hong
Kong's simple and low tax rate, combined with a sound
legal system, free flow of information and the protection of

intellectual property are factors of attraction.

Fierce talent competition

However, since China’s State Administration of Foreign
Experts Affairs launched the Thousand Talents Plan in
2008 by which selected foreign talents can receive a
research grant of up to RMB 5 million, lots of talents

have left for China. Two local university professors have