In Depth: The Tide Turns on Hong Kong’s Talent Influx
Listen to the full version
“Fifteen years of free compulsory education, children can enter top-tier universities with lower exam scores, and you can bypass the mainland’s grueling college entrance exams. A Hong Kong passport offers visa-free access to 171 countries — the strongest in the region.” On social media, posts touting the benefits of Hong Kong residency are ubiquitous.
In late 2022, eager to revitalize its post-pandemic economy, the Hong Kong government launched the Top Talent Pass Scheme, or TTPS. It also lifted the annual quota on its Quality Migrant Admission Scheme, or QMAS. “Snatching talent” became the government’s mantra, and Hong Kong was suddenly a low-cost destination for the Chinese mainland’s middle class to relocate.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- DIGEST HUB
Digest Hub
Back
- Between mid-2020 and mid-2022：
- Hong Kong’s labor force shrank by about 140,000 people, with two-thirds of the losses from the high-skilled sector.
- Late 2022：
- Hong Kong government launched the Top Talent Pass Scheme (TTPS) and lifted the annual quota on the Quality Migrant Admission Scheme (QMAS) to attract talent.
- 2023：
- The population aged 35-44 in Hong Kong increased by 20,000, reaching a 20-year high.
- January 2024：
- Liu Mo applied for the QMAS visa.
- 2024：
- Mercer’s Cost of Living City Ranking named Hong Kong as the world’s most expensive city.
- June 2024：
- City University of Hong Kong held a 'talent matchmaking' event.
- From January 2025 to July 2025：
- QMAS applications dropped by 75% from 2023; TTPS application monthly average fell by about 40%.
- By the end of July 2025：
- Around 110,000 of about 140,000 TTPS applications had been approved; over 90,000 people activated their visas in Hong Kong.
- By late July 2025：
- Terms of 13,678 TTPS visa holders ended.
- By July 31, 2025：
- Immigration Department had received 9,699 TTPS renewal applications; 9,044 processed, with a 94% approval rate.
- On Aug. 15, 2025：
- Labour and Welfare Bureau announced that 46% of TTPS visa holders whose terms ended by late July 2025 did not apply to extend.
- August 2025：
- Latest government data disclosed showing about half of roughly 14,000 talent visas expiring were not renewed.
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新