Plan aims to help HK youth’s in­volve­ment in the Bay Area

China Daily (Hong Kong) - - HONG KONG - By KATHY ZHANG in Hong Kong kathyzhang@chi­nadai­lyhk.com

The govern­ment will in­tro­duce a new scheme to pro­vide a more com­pre­hen­sive plat­form for lo­cal young peo­ple to es­tab­lish busi­nesses in the Guang­dong-Hong Kong-Ma­cao Greater Bay Area, the city’s No 2 of­fi­cial said on Fri­day.

The re­marks came as Chief Sec­re­tary for Ad­min­is­tra­tion Matthew Cheung Kin-chung dis­cussed youth de­vel­op­ment at a press con­fer­ence two days af­ter the new Pol­icy Ad­dress on Wed­nes­day.

Cheung said that while it was up to young peo­ple to de­cide on their ca­reers, the govern­ment wanted to pro­vide them with an ad­di­tional choice: work­ing and run­ning busi­nesses in the Bay Area.

The Pol­icy Ad­dress stated that the rel­e­vant au­thor­i­ties plan to col­lab­o­rate with lo­cal non-gov­ern­men­tal or­ga­ni­za­tions to pro­vide young en­trepreneurs from Hong Kong in the Bay Area with startup sup­port and other as­sis­tance.

Cheung said the scheme would be like a “data­base” or “plat­form” for Hong Kong young en­trepreneurs. Some of them may not be knowl­edge­able about main­land laws and the tax sys­tem or have any re­la­tion­ships with es­tab­lished lo­cal net­works.

Some HK$300 mil­lion will be in­jected into a Youth De­vel­op­ment Fund to sup­port the scheme, ex­plained Cheung.

Sec­re­tary for Home Af­fairs Lau Kong-wah said el­i­gi­ble NGOs would be sub­si­dized so they could help pro­vide in­for­ma­tion and ser­vices to young SAR busi­ness­peo­ple keen to op­er­ate in the Bay Area.

Other rel­e­vant or­ga­ni­za­tions will also be brought to­gether un­der the scheme to act as part­ners — in­clud­ing uni­ver­si­ties and re­search in­sti­tu­tions.

Ac­cord­ing to the home af­fairs sec­re­tary, the spe­cial ad­min­is­tra­tive re­gion govern­ment will play the role of a “fa­cil­i­ta­tor” un­der the scheme. This is in or­der to strengthen co­op­er­a­tion with main­land au­thor­i­ties and look for suit­able “en­trepreneurial bases” and ini­tia­tives.

The new scheme is ex­pected to be launched next year, Lau re­vealed. He added that the govern­ment is work­ing with the Hong Kong United Youth As­so­ci­a­tion to launch a pilot scheme at the end of the year. The pilot scheme will be self­fi­nanc­ing.

The govern­ment es­tab­lished the Youth De­vel­op­ment Fund in 2016. Un­til now, about 190 young en­trepreneurs re­ceived a sub­sidy in the first round of ap­pli­ca­tions to help start busi­nesses.

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