As Hong Kong talents join the “go north” movement to explore new opportunities on the Chinese mainland, concerns arise that the city may eventually suffer a serious brain drain. These concerns are aggravated by the fact that many that have joined the northern migration are better educated — some highly educated - elite talents.
Mo Pak-hung acknowledges the trend is developing even now, but he believes Hong Kong is well positioned to stave off a hemorrhaging of the city’s talent pool.
“Now is the time for the government to address the issue,” Mo said.
He notes that the GDP of both Shanghai and Beijing already surpassed Hong Kong in 2011, according to official reports from the three cities. Chinese Academy of Social Sciences’ statistics show that by 2015, four more mainland cities — Guangzhou, Shenzhen, Suzhou and Tianjin will also surpass Hong Kong in terms of economic scale.
“Hong Kong should strengthen its role as a cultural center that links China and the West by expanding its education industry,” Mo proposed, explaining that this change can benefit the city from various aspects.
They may stay here to work or start businesses, Mo said, adding that if the government can offer favorable policies, it may help to add greater diversity to the city’s industrial landscape and create more opportunities.
A booming education industry in Hong Kong will also give the city a perfect chance to elevate its publishing industry.
“China is embracing the world, and the world also wants to learn more about China. Hong Kong is now the best place to join the two needs, due to its historic uniqueness and geographical proximity to the mainland. We can publish various publications and sell them in both markets, and such a shift will generate huge sums of money and attract the world’s top publishers to work in Hong Kong.
“I think the series of measures can strengthen Hong Kong’s competitiveness, enlarge Hong Kong’s economic scale, and keep more talents in the city,” Mo said.