Hong Kong Quality Migrant Admission Scheme | Which industries have the biggest talent gaps, and which are most favoured?

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The author of this article Soso FUNG
Hello everyone, I am Soso FUNG, an migration consultant. I graduated from Auckland University of Technology in 2010. After returning to China in 2019, I started working on the Hong Kong, China Excellent Talents Programmeme. So far, I have assisted more than 100 groups of families to successfully obtain Hong Kong, China status through the Hong Kong, China Talents Programmeme. Sincerity is my basic work attitude, professionalism is my basic professional ethics, and intention is my professional reputation in the industry. I will live up to your trust and use my most attentive and professional services to help you and your family successfully apply for Hong Kong, China identity.

The population of Hong Kong has declined for three consecutive years, with a cumulative loss of 187,300 people, falling to 7.3332 million at the end of last year, a new low since 2016. The vast majority of the population lost last year was caused by net emigration, reaching 60,000, a record high in 31 years. Among them, the labour force fell even more, falling by 1.5% year-on-year. Demographers predict that the net emigration of Hong Kong people may have peaked, but due to the declining birth rate, the population decline is likely to continue; the decline in the working population will weaken the tax revenue and competitiveness of Hong Kong, China, and drag down economic development.They all believe that in addition to “grabbing talents”, the Hong Kong government must also improve the social environment to retain talents.

The loss of population has caused a large number of vacancies in many industries.
Which industries in Hong Kong are in urgent need of talents?

01. Financial and accounting services:
Asset Management Expertise
·Investment analysis and investment consulting
·Fund managers, financial technology, securities and bonds (securities analysis, bond project management, securities investment)
·Insurance related (insurance product research and development, actuary)
·Finance (finance/accounting/auditing/tax management of multinational enterprises/listed companies), etc.;
02. Consulting technology and telecommunications:
Big data analysis, algorithms, artificial intelligence, financial technology, communication network technology, network and information security, cloud technology, game development, Internet of Things, technology research and development, etc.
03. Others:
Senior waste treatment experts or engineers, smart city/urban planning, dispute resolution experts, business transaction lawyers, new energy vehicles/smart cars, new material research and development, medical technology/smart medical/biomedical research, etc.
The approval of talented people mainly depends on the applicant’s academic qualifications and work experience. Today I will share with you a successful case where the academic qualifications are only a bachelor’s degree and the applicant was over 38 years old at the time of application. Ms. L works long hours, but only has a bachelor’s degree and is already older than the best age to apply. Fortunately, her major and job are consistent, and she was eventually approved.
For Hong Kong talents, low scores can be made up by academic qualifications and majors. The opposite is also true. If academic qualifications are low, work experience can be used to make up for the low scores.
Ms. L’s background:
Age: 39 years old
Education: Bachelor degree
Work experience:Applicants with more than 10 years of senior management experience but more than 3 years of working experience in a large factory can receive an additional 20 points.
Time to submit information: December 19, 2022
Time for in-principle approval: September 21, 2023
Advantages:
Long working hours + famous company background, major related to finance
Disadvantages:
Only a bachelor’s degree, no management experience and over 38 years old

Selection mechanism of Hong Kong Talent Scheme:
Applicants who meet the basic qualification requirements can choose to be assessed using the ‘comprehensive points system’ or the ‘achievement points system’ and compete with other applicants for quotas.

‘Comprehensive scoring system’Applicants are scored based on their age, academic or professional qualifications, work experience, language proficiency and family background, with a maximum score of 245. The ‘Comprehensive Points System’ has a minimum score of 80 points, and applicants should first assess whether their personal qualifications have reached the minimum passing score.

‘Achievement Points System’This scheme also provides an alternative points system for individuals with extraordinary talents or skills and outstanding achievements to apply to come to Hong Kong. Applicants in this category may choose to be assessed based on the ‘achievement points system’. The requirements of this scoring system are very high, such as the applicant has won outstanding achievement awards (such as Olympic medals, Nobel Prizes, national/international awards) or the applicant can prove that his work has been recognized by his peers or has made a significant contribution to the development of his industry.

Why is the Hong Kong Talent Programmeme in 2023 and 2024 so popular?
1. Flexible renewal: you can continue to work and live in the mainland. Renewal can be to study abroad or stay in Hong Kong for employment and entrepreneurship.
2. No need to hire in advance: You do not need to be employed by a Hong Kong company before applying or after obtaining Hong Kong status.
3. Low processing fees: agency fees are generally around 30,000
4. Favorable policies: In 2023 and 2024, a series of favorable policies such as the cancellation of quota restrictions, online application, cancellation of interviews, bonus points for new famous companies, and expansion of talent recruitment will be implemented.

People targeted by the Talented Talents Programmeme in Hong Kong, China:
1. Talents with highly professional skills and experience, such as scientists, engineers, doctors, educators, financial professionals, etc.
2. Talents who have obtained degrees from internationally renowned universities, such as overseas students who graduated from the top 100 universities in the world
3. Talents working in internationally renowned companies or institutions, such as multinational corporate executives, investment bank analysts, etc.
4. Talents with innovative spirit and entrepreneurial ability, such as entrepreneurs, investors, etc.
As of July 31 this year, the SAR government had received a total of about 120,000 applications, and more than 75,000 applications had been approved. This shows that Hong Kong, China, is full of opportunities and is still very attractive to global talents.In addition, more than 38,000 applicants have arrived in Hong Kong through various talent entry schemes, exceeding the annual target of at least 35,000 talents who are expected to stay in Hong Kong for more than 12 months in just 7 months.

According to the Hong Kong Migration Department’s approval data for Hong Kong’s outstanding talents in the first half of 2023. A total of 7,022 applicants were approved in the first half of the year, almost three times the number of approved applicants for the whole of last year, which was 2,845.
From January to June this year, a total of 7,022 applicants were approved. Referring to the approval data of 2,073 applicants in the first quarter, the number of approved applicants for the Talent Programmeme in the second quarter of this year was 4,949, which was a seven-fold increase from the 707 applicants in the second quarter of last year. A record high!

Applicants are classified according to their approved industries/sectors.Financial and accounting services have the highest number of approved people, reaching 2,310; followed by consulting technology and telecommunications industries, with 1,592 people; combined, the number of approved people is 3,902;If you are a friend in these industries, you must seize the opportunity.

Many of the purposes of applying for Hong Kong identity are to plan early for their children’s education. Children with Hong Kong identity can enjoy various educational resources and further education pathways.
1. Enjoy 15 years of education in Hong Kong, China for free
Since 2017, Hong Kong, China’s free compulsory education system covers 15 years, including early childhood education (3 years), primary education (6 years), junior high school education (3 years), and high school education (3 years). In addition, starting from the 2020/2021 year, Hong Kong, China, will implement a ‘regular student allowance’, providing a one-time student allowance of NT$2,500 for secondary day school, primary school and kindergarten students to reduce parents’ financial burden in education expenditures.
2. High-quality international education resources
The selection of international courses in Hong Kong, China, is diversified. Students come to study in Hong Kong from all over the world. Students can exchange cultures from different regions with teachers and students from various countries on campus and in extracurricular activities, learn to respect the cultures of various countries, and then cultivate an international perspective.
3. DSE studies in Hong Kong, China
DSE scores can be applied not only to universities in Hong Kong, China, but also to 300 universities around the world such as the United Kingdom, the United States, Canada, Australia, and Singapore.
DSE scores can also apply for admission to 129 universities in the mainland (including Qingbei Jiaofu and other universities). The DSE exam has the advantages of competitiveness, high admission rate, low subject difficulty, and wide scope of recognition.
4. Joint entrance examination for overseas Chinese students from Hong Kong, Macao and Taiwan
According to statistics released by the Ministry of Education, a total of 7,238 overseas Chinese students registered for the joint examination, an increase of 43% from last year. There are 5,097 candidates from Hong Kong, China, 555 candidates from Macao, China, 1,333 candidates from Taiwan, China, and 253 overseas Chinese students.
The admission quota of Hong Kong, Macao and Taiwan Joint Entrance Examination does not occupy the domestic college entrance examination quota. The admission score of the Joint Entrance Examination is much lower than the admission score of ordinary domestic college entrance examination students. There are 5 subjects with a full score of 750 points. Under normal circumstances, a score of 400 points in the Joint Entrance Examination can be admitted to a university.
5. Entering into a prestigious local school in Hong Kong, China
Speaking of local universities in Hong Kong, China, the eight most commonly heard in Hong Kong are the University of Hong Kong, China, Hong Kong University of Science and Technology, China University of Hong Kong, Hong Kong Polytechnic University, China, and Hong Kong Baptist University. The eight major universities have 15,000 places each year, of which about 13,000 are allocated through the Joint University Admissions Programmeme (JUPAS). For Hong Kong students who want to enter a Hong Kong school, it will become easier and the pressure for further studies will be reduced.

How to apply for the Talents Scheme in Hong Kong, China
First of all, you need to meet the basic requirements for outstanding talents in Hong Kong, China to apply:
·Age: 18 years and above
·Economy: Proof of deposit is required, individual application requires 200,000+, family application requires 300,000+
·Character: No criminal record, no bad migration record
·Education: Bachelor degree or above (needs to be issued by a recognized university or institution)
On the premise of meeting the basic application qualifications, you also need to choose one of two points-based systems and conduct a self-evaluation of talents. Only when you meet the score requirements can you apply. The two scoring systems are the ‘comprehensive scoring system’ and the ‘achievement scoring system’. Since the [Achievement Points System] only has two options: 0 points or full points, most people will still apply through the [Comprehensive Points System] channel where 80 points means passing.
The application for outstanding talents in Hong Kong, China, has changed a lot since August. If you want to successfully obtain the identity of Hong Kong, China, it is recommended to first understand the talents strategy and talk to professionals about professional matters. Application materials and documents for the Talented Talents Programmeme in Hong Kong, China are very important, and no aspect should be missed. If you intend to apply to Hong Kong, China but are unsure about your own assessment score, you can scan and follow

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