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2024 December
Nurturing Young Talents: Overcome Challenges and Embrace Opportunities

The Chamber’s Young Executives’ Committee, together with 16 other young business executive organizations, recently co-hosted the 2024 Luncheon for Hong Kong Young Business Executives. The event was graced by Cheuk Wing-hing, Deputy Chief Secretary for Administration, who detailed the HKSAR Government’s key policy initiatives in three main areas: enhancing human resources, supporting the industrial and commercial sectors to develop new quality productive forces, and integrating into national development. He also interacted with the more than 200 young talents present.
 
Cheuk expressed his gratitude to the major chambers of commerce for setting up committees aimed at young executives, which encourage the younger generation to join the business community. He said that the Government has actively recruited young people into advisory committees in recent years, especially encouraging newcomers in the business community to increase their engagement with the Government, thereby bettering governance.
 

Strengthen Hong Kong business community’s talent pool

Cheuk noted that this year’s Policy Address focused on reform, embracing changes, and exploring new growth areas. The HKSAR Government put forward five initiatives: to solidify and elevate Hong Kong’s status as an international center for finance, shipping and trade; to develop new quality productive forces tailored to local conditions; to establish Hong Kong as an international hub for high-caliber talents; to promote the integrated development of culture, sports and tourism, and foster economic diversification; and to take forward the Northern Metropolis as a growth engine and deepen Greater Bay Area collaboration.

The HKSAR Government stressed the need to continually bolster the talent pool in Hong Kong’s business community. He revealed that the HKSAR Government will implement several measures, including the establishment of the Committee on Education, Technology and Talents to co‑ordinate and promote the integrated development of these areas. It also stated to set up an international education hub and transform Hong Kong into an international hub for high-caliber talents. In addition, the HKSAR Government will strive to host more international education conferences and exhibitions, launch the Hong Kong Future Talents Scholarship Scheme for Advanced Studies, and develop the Northern Metropolis University Town.

 

Develop into a high-quality talent hub

Cheuk noted that at the Second Guangdong-Hong Kong-Macao Greater Bay Area High-quality Talent Development Conference in early May this year, the “9+2” cities of the Greater Bay Area collectively signed a memorandum of cooperation. This agreement aims to implement the national strategic policy of developing the Greater Bay Area into a high-level talent hub. On this basis, the Government will deepen talent services co-operation and foster co-operation on talent cultivation, recruitment, and exchange in the Greater Bay Area.

 

At the same time, to support the industrial and commercial sectors in developing new quality productive forces, the Government has introduced various measures to explore economic growth areas. For instance, Cheuk said that the Government formed the Working Group on Promoting Silver Economy, aiming to encourage young entrepreneurs to participate in promoting the silver economy. It also set up the Working Group on Developing Low‑altitude Economy to unlock the low‑altitude airspace as a new production factor for the economy. Moreover, the Government is focusing on nurturing emerging sectors such as liquor trade, aerospace science and technology R&D, and new energy.

 

Cheuk stressed that, under the “one country, two systems” framework, Hong Kong will persist in integrating into national development and assist Mainland companies in “going global.” He added that the present Government has formed the Steering Group on Integration into National Development, which aims to strengthen top‑level planning and steering, align with key national strategies, and engage in all-round cooperation with the Mainland.
 

Government offers support for young executives to showcase their capabilities

During the Q&A session, attendees keenly inquired about issues like the involvement of young people in market development in the Mainland and the “Belt and Road”  Initiative, along with deepening the promotion of “multi-destination” tourism in the Greater Bay Area. Cheuk pointed out that the HKSAR Government is set to strengthen cooperation with corporations to fund relevant organizations to organize more youth internship exchange schemes, and assist young business executives in seeking new opportunities for regional collaboration and growth through diverse activities.

Jennifer Yeung, Office Bearer In Charge of the Chamber’s Young Executives’ Committee, said in her speech on behalf of the co-hosts that the Third Plenary Session of the Central Committee of the Communist Party of China stressed the need to solidify and elevate Hong Kong’s status and support its efforts in developing into an international hub for high-caliber talents, setting the course for all sectors in Hong Kong to pursue sustainable economic and social growth. This year’s Policy Address also echoes the Third Plenary Session of the CPC Central Committee in putting forward several key recommendations, and covers numerous initiatives to deepen youth development. She expressed her belief that the young executives in Hong Kong’s business community will actively apply their creativity and talents across various roles to further economic and social development. (8/11)