Snapshot: Employment-related initiatives in the Hong Kong Policy Address 2024

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The Chief Executive of the Hong Kong SAR delivered his 2024 Policy Address today.

Please see the following snapshot of the employment-related initiatives:

1. The validity period of multiple-entry visas for foreign staff of companies registered in Hong Kong, including non-permanent residents, will be extended to a maximum of five years.

2. To attract more talent to Hong Kong:

a. the Talent List will be updated to include talents required for the development of the “eight centres”;
b. the list of universities under the Top Talent Pass Scheme will be expanded to 198 universities;
c. new channels and mechanisms under the General Employment Policy and the Admission Scheme for Mainland Talents and Professionals and the Quality Migrant Admission Scheme will be introduced; and
d. the pilot arrangement of including graduates from the Greater Bay Area campuses of Hong Kong universities under the Immigration Arrangements for Non-local Graduates will be extended for two years.

3. To assist talents in pursuing development in Hong Kong, Hong Kong Talent Edge will step up its promotion efforts and expand its network of collaborative partners and organise online and in-person job fairs with industries and employer organisations, so that employers can directly match jobs with talents.

4. The Mandatory Provident Fund Schemes Authority will work out the details for implementing the “Full Portability” proposal, so that employees will be able to make full use of the eMPF Platform, thereby creating room for reduced fees.

5. The Government will take forward various measures to enhance employee protection, including:

a. launching a 25-year subsidy scheme exceeding HK$33 billion to share out employers’ expenses upon the abolition of the offsetting arrangement which is effective from 1 May 2025,
b. reviewing the coverage of ex-gratia severance payments under the Protection of Wages on Insolvency Fund, and explore an increase in the ceiling of ex-gratia payments to enhance employee protection,
c. implementing the new annual review mechanism of the Statutory Minimum Wage, and
d. amending the continuous contract requirement under the Employment Ordinance by relaxing the threshold from working 18 hours in a week for four consecutive weeks (i.e. 72 hours in total) to an aggregate of 68 hours in four weeks, making it easier for employees to enjoy comprehensive employment rights.

Key Contacts

Cynthia Chung

Partner | Corporate Commercial | Employment and Pensions

Email or call +852 2825 9297

Elsie Chan

Partner | Employment and Pensions

Email or call +852 2825 9604

Helen Liao

Partner | Employment and Pensions

Email or call +852 2825 9779