Buy your talent: China’s subsidies for R&D staff compete with HK
In the newly released Budget, Financial Secretary Paul Chan committed over HK$45 billion to drive the development of innovation and technology (I&T) infrastructure and talent retention in Hong Kong. This includes funds for increasing the monthly allowance for researchers (from $16,000 to $18,000 per month for researchers with a Bachelor’s degree). But can these measures effectively retain and attract talent in the global – or even the regional – marketplace for talent?
The central government has recently issued a master plan for the Guangdong-Hong Kong-Macao Greater Bay Area development to spur growth in Hong Kong, Macao and nine cities in Guangdong province including Guangzhou and Shenzhen — China’s Silicon Valley. The Bay Area is home to some 70 million people and has a combined GDP of about 10 trillion yuan ($1.49 trillion) in 2017, roughly equivalent to that of South Korea. 繼續閱讀