'Plan to attract foreign capital will boost economy'
Financial services chief Christopher Hui on Wednesday said that a new plan to attract foreign investment and talent would boost the growth of the city's "real economy".  Speaking on RTHK's Overview Policy programme, Hui explained that the Capital Investment Entrant Scheme would create job opportunities for local residents, as the investors participating in the scheme would need to utilise local accounting and financial services. Under this scheme, eligible applicants who invest a minimum of HK$30 million in the city's stocks or other assets, excluding residential property, will have a faster pathway to residency. Applicants will also be required to allocate a minimum of HK$3 million to support innovation and technology industries. The scheme is expected to be implemented in the middle of this year. Looking ahead, Hui said the government would continue to strengthen the competitiveness of Hong Kong's financial market, including the introduction of new measures to improve market liquidity. He added that an integrated fund platform will be launched by the end of this year. The platform will bring more diversity to the markets while offering more choices to overseas asset management firms, he said. "This platform will mainly target retail funds, and if the overseas asset management companies want to offer their products to our retail investors, this will be a very convenient platform for them to access investors," Hui said.