Tag: HONG KONG

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US slaps new visa curbs on Hong Kong officials

The statement did not specify which officials would be targeted by these new restrictions…reports Asian Lite News

The United States announced on Friday its intention to introduce fresh visa restrictions on numerous officials from Hong Kong in response to the ongoing suppression of rights and freedoms in the territory controlled by China.

US Secretary of State Antony Blinken issued a statement noting China’s consistent infringement upon Hong Kong’s guaranteed autonomy, democratic structures, and fundamental liberties over the past year. This includes the recent implementation of a new national security law referred to as Article 23.

“Over the past year, the People’s Republic of China (PRC) has continued to take actions against Hong Kong’s promised high degree of autonomy, democratic institutions, and rights and freedoms. This includes Hong Kong authorities’ recent enactment of legislation under Article 23 of the Basic Law, which has broad and vaguely defined provisions regarding ‘sedition’,” ‘state secrets,’ and interactions with foreign entities,” said Blinken in an official statement.

“These provisions could both be used to eliminate dissent inside Hong Kong and applied outside of its borders as part of the PRC’s ongoing campaign of transnational repression,” the statement added.

“In response, the Department of State is announcing that it is taking steps to impose new visa restrictions on multiple Hong Kong officials responsible for the intensifying crackdown on rights and freedoms, pursuant to Section 212(a)(3)(C) of the Immigration and Nationality Act,” Blinken also said.

The statement did not specify which officials would be targeted by these new restrictions. This announcement follows a previous US bill in November, which called for sanctions against 49 Hong Kong officials, judges, and prosecutors involved in national security cases. Hong Kong officials condemned this bill, accusing US legislators of grandstanding and attempting to intimidate the city.

Among the officials named in the previous Hong Kong Sanctions Act were Secretary for Justice Paul Lam, Police Chief Raymond Siu, and several judges including Andrew Cheung, Andrew Chan, Johnny Chan, Alex Lee, Esther Toh, and Amanda Woodcock.

The United States previously imposed visa restrictions and other sanctions on Hong Kong officials accused of undermining freedoms, and has as announced an end to the special economic treatment that Hong Kong had long enjoyed under US law. (ANI)

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Hong Kong: Jimmy Lai Denies Sedition, National Security Charges

Hong Kong pro-democracy media tycoon Jimmy Lai gets bail. (Photo Courtesy: Twitter)

Beijing imposed the broadly-worded national security law in June 2020, saying it was necessary to restore stability following the mass protests the previous year…reports Asian Lite News

Hong Kong media tycoon Jimmy Lai, known for his support of the pro-democracy movement and criticism of China, has pleaded not guilty to all charges in his trial under the territory’s national security law that could see him jailed for life, Al Jazeera reported.

Lai, 76, has been in prison since December 2020 and faces two counts of “conspiracy to collude with foreign forces” under the China-imposed security law as well as “conspiracy to publish seditious publications” under a colonial-era sedition law.

His trial was delayed by a year – after the Hong Kong government questioned his choice of lawyer – seeking Beijing’s intervention – and finally got underway in December.

The founder of the now-defunct Apple Daily newspaper is one of Beijing’s most vocal critics and has already been convicted on lesser charges related to the management of the media firm and his involvement in a vigil to mark the 1989 Tiananmen Square massacre, according to Al Jazeera.

“Not guilty,” Lai responded in English as each of the three charges was read out.

Other defendants in the case include three Apple Daily companies that have been taken over by the Hong Kong government, six former executives of the newspaper and two young activists related to an advocacy group called Stand With Hong Kong Fight For Freedom (SWHK).

Beijing imposed the broadly-worded national security law in June 2020, saying it was necessary to restore stability following the mass protests the previous year, which began amid popular opposition to a plan for an extradition bill with the mainland, Al Jazeera reported.

Amnesty International has said the law has “decimated” Hong Kong’s freedoms and many pro-democracy politicians and activists have left the territory.

Meanwhile, the US and the UK have called for Lai’s immediate release and raised concerns about whether he will receive a fair trial. Lai is also a UK citizen.

“This case is about a radical political figure…who conspired with others to bring into hatred and stir up opposition to the government of ([Hong Kong] and the central authorities and to collude with foreign countries or external elements to endanger national security,” lead prosecutor Anthony Chau told the court on Tuesday.

Chau labelled Lai “the mastermind” who used his media business “as a platform to pursue his political agenda…and orchestrated a conspiracy with the so-called democracy and freedom advocacy group Stand with Hong Kong Fight for Freedom”, according to Al Jazeera.

The prosecution cited 161 publications of Apple Daily between April 2019 and the newspaper’s last day in June 2021 as “examples of seditious publications… with a view to polluting the minds of the impressionable ones”.

Lai was also accused of providing instructions and financial support for SWHK to lobby foreign countries for sanctions, including the US, UK, Australia, Japan and Portugal.

The trial is being heard by three specially selected security law judges and there is no jury. It is scheduled to continue for 80 days until March next year, Al Jazeera reported. (ANI)

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Hong Kong people lament Chinese control

The results speak for themselves. As Carmen Lau, an exiled former Hong Kong district councilor commented, “The decline of the turnout rate exactly mirrors the deterioration of Hong Kong’s democracy...reports Asian Lite News

Within the span of just four forlorn years, Hong Kong went from its highest-ever voter turnout to its lowest ever in local district elections. In 2019, 71.2 per cent of the population turned out – mostly to vote for pro-democracy candidates and thereby slamming government arguments that only a “noisy minority” was protesting – whereas the participation rate plummeted to 27.54 per cent in elections held on 10 December 2023.

The results speak for themselves. As Carmen Lau, an exiled former Hong Kong district councilor commented, “The decline of the turnout rate exactly mirrors the deterioration of Hong Kong’s democracy.” Voter turnout has typically bounced between 30 per cent and 45 per cent over the past 40 years, but for public involvement to shrink by a factor of more than 2.5 in just four years is simply unprecedented. This year, the Chinese Communist Party (CCP)-controlled government slashed democratic representation to just 20 per cent, and even then candidates were pre-vetted to ensure they were “patriots”. Furthermore, opposition was barred, constituencies were redrawn and most councillors were chosen by the city’s leader or government- appointed committees.

As Nathan Ruser of the Australian Strategic Policy Institute pointed out, “Over 1.2 million Hong Kongers marched on the street against Beijing’s rule multiple times during the 2019 mass protests. [That is] more Hong Kongers than who voted in this ‘patriots-only’ election. Even in a ‘quiet’ Hong Kong, Beijing’s imposed dictatorship is immensely unpopular.” Turnout on 10 December was 1.19 million voters. Remember too that civil servants were “urged” to vote by the likes of Chief Secretary Eric Chan, which amounted to 170,000+ likely participants for starters. Voters received a “thank you” card from the government, leading many to fear they would be forced to show these to employers to prove that they did in fact vote. After going from a vibrant and relatively free society, to essentially a police state where any dissent against the Hong Kong or Chinese government is harshly punished, the populace now has few ways to express itself. Refusing to vote is one of them. Another method is to use extreme sarcasm to parrot empty government promises or slogans. For example, the government described the election as “very successful”. Cynical Hong Kongers concurred online with comments such as: “Yeah, the most successful election in the universe!” They pointed out that the success stemmed from the fact that this election held the record for the lowest participation rate ever. Ironically, the electronic computer system experienced a glitch on election day, causing voting hours to be extended by 1.5 hours till midnight. Despite the extra time, people showed little desire to vote for the 20 per cent of seats actually being contested.

The other 80 per cent were all selected by the authorities or government-appointed committees. In such a one-sided system, one wonders what difference there is from elections in China’s or North Korea’s single-party states. This was the first district council election held under a severely overhauled system that stacked the deck completely in the government’s favor. The system was drastically changed in May after the 2019 election gave the pro-democracy faction a landslide, but ultimately meaningless, victory. It was rendered meaningless because China implemented the National Security Law on 30 June 2020 that suppressed free speech and turned pro-democracy figures and activists into wanted criminals or exiles overseas. Justice David Lok, Chairman of the Electoral Affairs Commission, said it was inappropriate to compare this year’s participation rate with that of 2019. He said the composition, voter base and voting system were all different. True enough, but that is because the government singlehandedly changed all these things to create an absurd, closed-circle electoral system.

The police were on high alert on election day, with 10,000 officers on the streets. They arrested several over alleged calls encouraging people to cast invalid ballots. Three members of the League of Social Democrats were also arrested ahead of a planned protest outside a polling station. Another person, 77-year-old Koo Sze-yiu, was arrested on 8 December for having the intent to protest. He was charged with “attempting to do or making any preparation to do an act or acts with seditious intention”. It is stunning how Hong Kong has developed into a dystopian form of the Minority Report, where people can be summarily arrested before committing a supposed crime. If the police discern the faintest hint of dissent, it jumps into action before anything is actually done.

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BEIJING’S BOUNTY THREAT: Britain Urged to Withdraw Judges From Hong Kong

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attends a meeting celebrating the 25th anniversary of Hong Kong's return to the motherland and the inaugural ceremony of the sixth-term government of the Hong Kong Special Administrative Region and delivers an important speech, at the Hong Kong Convention and Exhibition Center in Hong Kong, south China, July 1, 2022. (Xinhua/Yao Dawei/IANS)

As Beijing’s threat of bounties on exiled pro-democracy activists raises concerns over their safety, the UK government faces mounting pressure to withdraw all British judges from Hong Kong courts

The British government is facing mounting pressure to remove all British judges from Hong Kong courts following Beijing’s recent threat of a $1 million bounty on UK-based pro-democracy activists. The issue was raised in the House of Lords, where peers demanded decisive action against the transnational threat posed by the Chinese Communist Party. With arrest warrants issued for eight exiled pro-democracy activists, including those residing in the UK, US, Canada, and Australia, concerns have escalated over the safety and freedom of these individuals.

Lord Alton of Liverpool raised concerns during a parliamentary session regarding the government’s decision to send a trade minister to Hong Kong, suggesting that it offered a thin veneer of respectability to the local authorities. The move was met with criticism, as it seemed contradictory to the growing concerns over the safety of pro-democracy activists and the need for decisive action.

Baroness Helena Kennedy, who herself is sanctioned by China, emphasised the genuine safety concerns faced by these activists. She urged the government to take concrete action to address the threats posed by Beijing and protect those targeted by the regime.

The arrest warrants issued by Hong Kong’s CEO, John Lee, for eight exiled pro-democracy activists have further intensified fears surrounding their safety. These individuals sought refuge in Western countries, including the UK, US, Canada, and Australia, after the imposition of China’s national security law in Hong Kong. The warrants have raised concerns that they could be extradited and prosecuted if they leave their host countries.

Foreign Office minister Lord Ahmad addressed the concerns raised by the House of Lords, stating that the national security law imposed by China has no jurisdiction in the UK. He affirmed that the extradition agreement with Hong Kong was indefinitely suspended in 2020 and emphasized the government’s commitment to hold China and Hong Kong accountable for targeting pro-democracy advocates.

Regarding trade relationships, Lord Ahmad defended the importance of engagement with China on global issues. However, Conservative peer Lord Howell of Guildford echoed the call for British judges to be withdrawn, stating that if China wants to be treated as a civilized nation, it must exhibit more civilized behaviour.

Opposition MPs and campaigners have criticized the government’s response as inadequate, emphasizing the need for tangible action rather than mere condemnation. Tory MP Jason McCartney expressed concern that HM Revenue and Customs (HMRC) was allegedly sharing bank account details of Chinese and Hong Kong individuals with the Chinese government, potentially putting them at risk.

Foreign Office minister Anne-Marie Trevelyan promised to address the matter urgently. Liberal Democrat foreign affairs spokeswoman Layla Moran called for the prosecution of individuals involved in bounty hunting, emphasizing that such activities are illegal in the UK. She also questioned the foreign secretary’s planned visit to Beijing, urging a reconsideration in light of China’s escalating transnational repression.

Conservative MP Alicia Kearns highlighted the violation of international law posed by Beijing’s bounties and called for stronger measures to protect British nationals and refugees seeking shelter in the UK.

As Beijing’s threat of bounties on exiled pro-democracy activists raises concerns over their safety, the UK government faces mounting pressure to withdraw all British judges from Hong Kong courts. Calls for action have intensified in response to the Chinese Communist Party’s transnational repression. While the government has condemned the intimidation attempts by China, critics argue that more substantial measures are required. The issue also brings attention to potential vulnerabilities, such as the alleged sharing of personal information with the Chinese government.

As the situation unfolds, the government faces the challenge of finding an effective response to protect the rights and safety of those involved. As the situation unfolds, the government must carefully consider its response and take effective steps to ensure the safety and freedom of the targeted activists. The call for the withdrawal of British judges from Hong Kong courts serves as a symbolic gesture of solidarity, but further action is required to address the broader transnational threat and protect the rights of those involved.

The bounties have also been condemned by the United States and Australia, which have called on China to respect the rights of the exiled activists. The issue of the bounties has highlighted the growing tension between China and the West, and it is likely to continue to be a source of controversy in the coming months.

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UK govt’s funding of groups with alleged links to CCP raises concerns

The controversy has raised concerns within the charity, as they fear some families may retreat from the community centres…reports Asian Lite News

A consortium of Hong Kong community groups has raised apprehensions regarding the UK government’s flagship programme aimed at welcoming Hongkongers, alleging that it has provided funding to an organisation purportedly connected to the Chinese Communist Party (CCP). The concerns emerged following the announcement of grants exceeding £3 million to support east and southeast Asian communities, including individuals who have recently arrived in the UK via the British National (Overseas) (BNO) immigration route.

According to a report by the Guardian, one of the grant recipients, the Wai Yin Society, a Manchester-based charity operating three community centres, received £39,990. In an open letter published on Monday, 28 groups supporting Hongkongers accused senior members of the Wai Yin Society’s leadership team of maintaining an “unusually close relationship” with the CCP and its UK apparatus.

The focus of these concerns centres around Juanita Yau, the chair of Wai Yin Society, and Karen Wang, the vice-chair. In 2021, Yau participated in a virtual celebration organised by the Chinese consulate in Manchester to commemorate the CCP’s 100th anniversary. The signatories of the letter argue that Yau’s attendance amounted to a public display of political support for the CCP.

Similarly, Wang has held the position of deputy director at the University of Manchester’s Confucius Institute since 2010. She was involved in a visit by Chinese President Xi Jinping to the University of Manchester in 2015. Confucius Institutes, which offer Mandarin language and Chinese cultural lessons through British universities, have faced criticism due to perceived ties to the Chinese state.

Responding to the allegations, a spokesperson for Wai Yin Society emphasised their commitment to attending various community events as a gesture of courtesy and promoting community cohesion. The charity talked about participating in events representing diverse communities, including Muslim, Jewish, Buddhist, and even royal occasions such as the king’s birthday.

The controversy has raised concerns within the charity, as they fear some families may retreat from the community centres. The spokesperson claimed that the news could deter individuals who may require support in the future from approaching the organisation. Rishi Sunak had previously pledged to close Confucius Institutes. However, since assuming the role of Prime Minister, he has voiced concerns that such action would be disproportionate.

The allegations against the Wai Yin Society have ignited a significant debate about potential affiliations between organisations supporting Hongkongers in the UK and the CCP. It remains to be seen how the UK government will address these concerns and ensure transparency within its flagship programme designed to welcome Hongkongers.

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Here are the most expensive cities for expats

New York edged past Hong Kong, in particular, due to significant rise in rental costs as demand soared post the Covid pandemic….reports Asian Lite News

New York has been ranked the most expensive city for expatriates, overtaking Hong Kong, which held the top spot for four years but was pushed to second place in a 2023 global cost-of-living study.

London held its position at number four in the annual study conducted by ECA International, which compared costs faced by expatriates in 207 cities around the world.

In North America, rankings for all US cities have risen this year, primarily driven by the strength of the US dollar, the study said.

New York edged past Hong Kong, in particular, due to significant rise in rental costs as demand soared post the Covid pandemic.

Barring London, all UK cities dropped in global rankings despite the ongoing cost of living crisis felt locally.

“The cost of living crisis in the UK persists, with rising costs driven primarily by food, utilities, and housing prices. Despite these challenges, all UK cities barring London have experienced a decline in the global rankings,” said Steven Kilfedder, Head of Production at ECA International.

“This can largely be attributed to the weakness of the pound, which has made the country cheaper for people coming to the UK from other countries.”

Geneva in Switzerland remained the most expensive location in Europe and the third most expensive in the world for expatriates.

In Asia, Hong Kong’s fall in the rankings was matched by nearly all major locations in the region. Singapore, Seoul and Yangon were among the exceptions, with Singapore having leapt up into the top five most expensive cities in the world, up from 13th position in 2022.

Singapore’s ascent was primarily driven by rapidly rising accommodation costs.

“Singapore’s rise is notable. Increased demand for rental accommodation in the Lion City, driven by factors such as the early relaxation of Covid restrictions compared to other key locations in the region, was not matched by corresponding increases in the supply of suitable accommodation,” said Lee Quane, Regional Director, Asia, at ECA International.

Contrary to last year, Chinese cities dropped further down in the rankings due to weaker Chinese yuan against other currencies and a lower rate of inflation compared to other countries.

Shanghai and Guangzhou remain the most expensive cities in China, but have fallen out of the global top 10, as the 13th and 14th most expensive cities in the world for expatriates, respectively.

Dubai rents rose by almost one-third on an influx of Russian expatriates, pushing the city up to 12th place, the study found.

ECA International’s cost of living rankings combine ECA’s cost of living and accommodation research to enable a comparison of costs faced by expatriates in 207 cities in 120 countries and territories around the world.

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Here’s why wealthy people leave Hong Kong

The number of millionaires living in Hong Kong fell by 27 per cent between 2012 and 2023 to 129,000…reports Asian Lite News

The number of high-net-worth individuals in Hong Kong has fallen by nearly 30 per cent in recent years, as the city’s ranking as a destination for the wealthy dropped several places amid an ongoing erosion of the city’s promised freedoms under Chinese rule, according to a media report.

The number of millionaires living in Hong Kong fell by 27 per cent between 2012 and 2023 to 129,000, as the city fell from fourth place globally to seventh place, immigration consultants Henley & Partners said in its World’s Wealthiest Cities Report 2023, Radio Free Asia reported.

HOng KONG

Meanwhile, the number of rich people living in Singapore rose by 40 per cent over the same period, as the city-state overtook Hong Kong to rise to fifth place in the global survey, it said, RFA reported.

Net departures of permanent residents from Hong Kong totaled 113,000 for the whole of 2022, while the city’s population fell by 1.2 per cent in the 12 months to August 2021, prompting calls from media backed by the Communist Party for the government to act to stem the brain drain.

Middle-class families have also been selling off property and voting with their feet, citing the curbs on freedom of speech and growing political interference in schools as driving factors in their decision to leave.

Veteran Hong Kong journalist and former Cable TV finance channel editor Joseph Ngan said there is now little to set Hong Kong apart from other cities in mainland China, with many fleeing the city for Singapore during the three years of lockdowns and port closures that marked the ruling Communist Party’s zero-Covid policy, RFA reported.

An ongoing crackdown on peaceful political opposition and public criticism of the government under a draconian national security law had also taken its toll on the city’s reputation among wealthy individuals, he said.

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China’s new Hong Kong visa scheme to woo professionals

The move comes after media backed by the ruling party called for schemes to balance out the exodus of highly-trained professionals…reports Asian Lite News

China has unveiled a new visa scheme that could draw a large influx of highly qualified people to live and work in Hong Kong, which has seen a mass exodus of people since the ruling Chinese Communist Party launched a crackdown on dissent in the wake of the 2019 protests, according to a media report.

China’s Exit-Entry Administration will launch a pilot scheme from February 20 that will allow senior scientists, healthcare professionals and investment arbitrators to enter and leave Hong Kong and Macau more freely, in a move commentators said could hamper social mobility for Hong Kongers who remain in the city, RFA reported.

The move comes after media backed by the ruling party called for schemes to balance out the exodus of highly-trained professionals, who have been leaving Hong Kong in droves in recent years, prompting concerns of a brain drain affecting major companies, education and healthcare, the report said.

According to the notice, the scheme is being administered entirely by Chinese immigration officials, despite promises that Hong Kong would police its own borders following the 1997 handover to China.

The new visas were announced unilaterally by Beijing, with Hong Kong having no say in the matter, current affairs commentator Sang Pu said, RFA reported.

“The people of Hong Kong have no right to say �no’ or to approve any of this,” Sang said. “The Hong Kong government isn’t representative of public opinion, and [Beijing] wouldn’t trust it to do anything [any more] anyway.”

“If the Chinese government issues a directive, Hong Kong will accept it,” he said. “There used to be room for discussion before, back in the era of [former chief executives] Donald Tsang and Leung Chun-ying.”

Hong Kong is no longer the place it used to be, Sang said, adding that China has been moving to erase the internal border between Hong Kong and neighboring Chinese cities of what Beijing terms the “Greater Bay Area” in the Pearl River Delta region, RFA reported.

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Mohammed meets HK chief executive

The meeting highlighted the strong relationship between the UAE and Hong Kong and discussed the prospects of enhancing cooperation across various fields…reports Asian Lite News

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today met with John Lee, Chief Executive of Hong Kong, at the Za’abeel Palace in Dubai.

The meeting highlighted the strong relationship between the UAE and Hong Kong and discussed the prospects of enhancing cooperation across various fields including investment, economy, trade and other vital sectors.

In his discussions with the Chief Executive of Hong Kong, His Highness emphasised the UAE’s keenness to enhance strategic partnerships with various nations to facilitate increased global trade.

The meeting also explored ways in which the UAE and Hong Kong can further strengthen their trade partnership, which has witnessed growth over the years. The value of non-oil foreign trade between the UAE and Hong Kong increased from $8.2 billion in 2014 to around $12 billion in 2021.

John Lee praised the deep partnership between Hong Kong and the UAE. He also expressed the hope that they can widen the horizons of their cooperation in various spheres, including economy, trade and investment.

The meeting was also attended by Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group; Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Media Council; and Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council.

Dubai Chambers opens new HK office

Dubai Chambers announced the establishment of its new international office in Hong Kong which marks a significant step in strengthening economic and business ties between Dubai and Hong Kong.

The announcement was made on the sidelines of the UAE-Hong Kong Business Forum, which took place yesterday in Dubai with attendance of a high-level delegation from Hong Kong, led by John Lee, the city’s Chief Executive, and several UAE government and business leaders.

The office aims to promote trade from Hong Kong to Dubai and attract more Hong Kong businesses to the emirate while expanding Dubai’s presence in the Asia Pacific region.

The office will collaborate with the Hong Kong Trade Development Council and other government and private sector entities to take advantage of the growth opportunities in both economies.

The new office aligns with the “Dubai Global” initiative launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, which aims to establish 50 representative offices for Dubai in five continents by 2030. The initiative is aimed at attracting foreign MNCs, SMEs, investors, and international talent to Dubai by showcasing the emirate’s competitive advantages and engaging with overseas stakeholders.

The MoU signed between Dubai Chambers and the Hong Kong Trade Development Council demonstrates the commitment of both organisations to support and advance mutual goals, including the development of trade relationships and business opportunities between Dubai and Hong Kong.

Overall, the new international office in Hong Kong and the MoU signed with the Hong Kong Trade Development Council are significant steps in furthering the economic and business ties between Dubai and Hong Kong, and promoting growth and development in both economies.

Commenting on the new Hong Kong Office and the MoU, Al Ghurair said,” This MoU strengthens the existing relationship and will boost trade and investment between our two economies. I look forward to seeing continued collaboration with our Hong Kong counterparts, especially with the presence of our new international office in Hong Kong. I am sure the relationship between our countries will continue to thrive and prosper in the years to come.”

As the largest trading partner for Hong Kong in the Middle East, the UAE has seen significant growth in non-oil trade with Hong Kong. The non-oil trade between the UAE and Hong Kong reached AED 22.2 billion in the first half of 2022, a 16.2% increase compared to the same period in 2021. Similarly, non-oil trade between Dubai and Hong Kong reached AED 37.2 billion in 2021.

The main products traded between Dubai and Hong Kong include precious stones and electronics, with other areas of potential trade including apparel and clothing accessories, fresh fruits, pharmaceuticals, nickel, rubber, and aircraft parts.

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Advantage India as Hong Kong announces new visa scheme

There are more than 42,000 Indians in Hong Kong, and nearly 33,000 of them hold Indian passports, says a July 2022 update on the website of Consulate General of India in Hong Kong…reports Asian Lite News

The vast Indian talent pool in fintech, logistics and banking sectors is set to benefit from Hong Kong’s new visa scheme, which was announced recently to stem a brain drain that has risked the city’s status as an international financial centre.

With the city’s workforce shrinking by about 140,000 people over the last two years, Chief Executive John Lee announced the “Top Talent Pass Scheme” this month, which includes incentives for high earners and top university graduates.

The scheme grants a two-year visa to individuals who earn no less than HK$2.5 million (US$318,000) annually, and graduates of the world’s top 100 universities with at least three years’ working experience over the past five years.

There are more than 42,000 Indians in Hong Kong, and nearly 33,000 of them hold Indian passports, says a July 2022 update on the website of Consulate General of India in Hong Kong.

“Increasingly, a large number of Indian professionals are coming to Hong Kong, working in the service industry, banking and finance, information technology, shipping, among others,” it said.

As per the government data, Hong Kong approved 1,034 visa applications from Indians under its general employment policy in 2021, and 560 applications in the first six months of 2022.

Prior to the pandemic, 2,684 visas were issued to Indian nationals in 2019 under the same general employment policy.

As far as the Indian talent pool in Hong Kong is concerned, the city has largely been able to retain it, as a result of which it remains a popular destination for prospective Indian workers who wish to move, industry insiders told South China Morning Post.

Hong Kong has been home to a large Indian community for more than 150 years, and its contribution to the city’s emergence as a hub of global finance and trade is well known.

Six public sector banks and two private sector banks from India are currently operating in Hong Kong.

According to the Consulate General of India in Hong Kong, numerous global financial majors, investment institutions and fund managers operating in India have their regional headquarters in Hong Kong.

Apart from a major sourcing centre for Indian companies, Hong Kong has also emerged as a major re-exporter of items it imports from India to Mainland China.

Due to their long presence, Indians have been able to integrate themselves into the mainstream Hong Kong society.

People from Sindh, Gujarat and Punjab form the largest component of the community, and there are more than 40 Indian associations present in Hong Kong that are run by diaspora/ people of Indian origin.

Gautam Bardoloi, president of the Forum of Indian Professionals in Hong Kong, told South China Morning Post that the “exodus from the city over the past two years had not been reflected in the Indian professional community”.

Also, with Lee announcing a slew of proposals including tax rebates, relaxed procedure for employers who recruit foreigners, as well as loosening immigration measures for overseas students by extending the limit of stay from one year to two — Hong Kong seems to be the right destination for skilled Indian workers as well as students.

Hong Kong was a former British colony handed to Chinese control in 1997. Many of its residents left in droves after a tough national security law was imposed, leading to crackdown on political dissent.

The city’s population in mid-2022 dropped 1.6 per cent from a year earlier, falling by 113,200 residents as of August, according to government statistics.

Last month, Singapore overtook Hong Kong in a ranking of global financial centres.

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