Hong Kong Chief Executive John Lee announced on Friday that the city’s various talent admission schemes are projected to add approximately 1.2% to the local gross domestic product (GDP) annually. The government’s initiative, designed to bolster the workforce and stimulate economic growth, has successfully attracted over 300,000 people to the city since its inception.

According to Lee, the retention rate for these new arrivals is promising, with more than half of those who have reached the three-year mark expressing a willingness to stay in Hong Kong. The demographic breakdown of these arrivals shows that approximately 20% of the participants originated from regions outside of mainland China, while the remainder arrived from the mainland.

These figures are part of a broader government strategy to counteract labor shortages and aging population trends by importing skilled workers. While the Chief Executive emphasized the positive economic impact, the report focuses on the government's internal projections regarding the long-term integration of these workers into the local economy. The government views these schemes as a primary driver for future economic stability and growth, aiming to solidify Hong Kong’s position as a regional hub for professional talent.