What's happened
Hong Kong's Chief Executive John Lee Ka-chiu announced a new policy extending multi-entry visas for foreign employees at registered companies from two to five years. This aims to enhance the city's appeal as a business hub and facilitate cross-border travel with mainland China.
Why it matters
What the papers say
According to the South China Morning Post, Chief Executive John Lee Ka-chiu emphasized that the new visa policy aims to attract more foreign talent and facilitate travel for business and tourism. Harley Seyedin, president of the American Chamber of Commerce in South China, noted that this change would enhance Hong Kong's appeal as a destination for global professionals. Meanwhile, the Independent highlighted the challenges Hong Kong faces in maintaining economic competitiveness against regional rivals, suggesting that while the visa extension is a positive step, it must be part of a broader strategy to address local demand and lifestyle changes post-pandemic.
How we got here
The new visa policy is part of Hong Kong's broader strategy to attract foreign talent and businesses, especially following the COVID-19 pandemic, which has seen a decline in local demand and increased competition from regional rivals.
More on these topics
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Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China, is a metropolitan area and special administrative region of the People's Republic of China on the eastern Pearl River Delta of the South China Sea.
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John Lee Ka-chiu, SBS, PMSM, PDSM, JP is a Hong Kong government official and former police officer. He is the current Secretary for Security.