Hong Kong unveils foreign 'talent trawl' to halt brain drain

Tax breaks, easy visas among moves to reboot city as global business hub

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Hong Kong Chief Executive John Lee delivers his first annual policy address at the city's Legislative Council on Oct. 19, vowing to restore the city's luster as a financial center.  © Reuters

PAK YIU, Nikkei staff writer

HONG KONG -- Hong Kong will open an office dedicated to "trawling talent" from overseas in an effort to revive the city's battered reputation as a global business hub, even as it moves to strengthen links with mainland China.

In his inaugural policy address Wednesday, Chief Executive John Lee unveiled a raft of measures, including tax breaks and looser visa rules, aimed at reversing a brain drain fueled by strict COVID-19 measures and a national security law imposed by Beijing after 2019 anti-government protests.

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