He said applicants of the scheme shall make investments at a certain amount in the local asset market, excluding property. Upon approval, they may reside and pursue development in Hong Kong. Details of the Scheme will be announced later.

Meanwhile, a mechanism will also be in place to provide facilitation for companies domiciled overseas, particularly enterprises with a business focus in the Asia-Pacific region, for re-domiciliation to Hong Kong, said Chan.

He said the move would help Hong Kong further explore market opportunities, while the companies may utilize the city’s favorable business environment and professional services.

Chan also mentioned that the Office for Attracting Strategic Enterprises established last year has already contacted quite a number of strategic enterprises and is actively following up on these cases, assisting these enterprises in establishing or expanding their business in Hong Kong.