Hong Kong has jumped five places to fourth overall in a global talent ranking – its highest position ever. The news coincided with the SCMP Hong Kong-Asean Summit, where Chief Executive John Lee Ka-chiu called for the city’s ties with partners such as the Association of Southeast Asian Nations to be bolstered.
The coincidence is timely. Talent can spearhead people-to-people exchanges that are the foundation of mutually beneficial ties between economies. With more than 670 million people, a median age of 30 and a growing middle class, Asean is a massive potential talent exchange partner.
Hong Kong also came first in Asia for talent in rankings by the International Institute for Management Development, a result Lee attributed to enhanced efforts in education and talent development. In 2022, the government launched a series of measures to attract talent and counter an emigration wave triggered by the 2019 social unrest and Covid-19 pandemic.
The Post’s summit brought together officials and business leaders from Hong Kong and the 10-member Asean, showcasing emerging opportunities between the city and its second-largest trading partner. The talent ranking prompted a discussion among summit participants over greater opportunities for talent exchange; there was a call for a convergence of talent, resources, funding and innovation to spur growth.
Malaysian Transport Minister Anthony Loke Siew Fook highlighted Asean’s potential to enhance trade through an expanding market, a skilled workforce and a strategic location.
The summit also focused on Hong Kong’s capacity to help Southeast Asian countries raise capital. More than 70 companies headquartered in Southeast Asia have raised funds in Hong Kong. But their capitalisation is less than half a percentage point of the stock market. With such a small base, there is almost unlimited room for it to grow. There are also mechanisms in place for companies listed in their home countries, like Singapore, Malaysia or Indonesia, to launch a secondary listing in Hong Kong. This enables them to tap into capital from China through the Stock Connect schemes and gives them access to a wider and deeper capital pool.
Visited 1 times, 1 visit(s) today
