Page 162 - Are You Future Ready?
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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