Hong Kong Relaunches Investment-for-Residency Program

What’s new: Hong Kong relaunched an investment-for-residency program suspended in 2015 to lure global talent and new capital into the city.

The program, unveiled Wednesday as part of the government’s budget, will allow applicants who invest a certain amount in the local asset market — excluding property — to reside and pursue development in Hong Kong, Financial Secretary Paul Chan Mo-po said in his budget speech.