Following the recent introduction of new multi-entry, five-year travel permits for non-Chinese permanent residents from Hong Kong and Macau, Hong Kong leader John Lee expressed his optimism about the future of international travel. He assured that more steps in visa measures will continue, opening up new opportunities for non-Chinese permanent residents.
Lee also said he looks forward to finalizing the text for the new agreement between Hong Kong and China as soon as possible and formally signing and implementing the agreement after completing respective internal approval procedures, VisaGuide.World reports.
VisaGuide.World recently reported that non-Chinese permanent Hong Kong and Macau residents can apply for a multiple-entry visa to visit China starting July 10, 2024. As a result, long-term residents who are not Chinese nationals can enter the Mainland multiple times for up to 90 days per visit.
Lee said the “first step” launched last October was a fast-track application process for multiple-entry visas for travelling to the mainland that is available to foreign employees of locally registered companies. The initiative was introduced in his second Policy Address.
New Opportunities Expected To Attract Companies & Talent Worldwide to Hong Kong’s Economy
During his opening speech at a conference, Lee highlighted the significant potential of the Mainland-Hong Kong Closest Economic Partnership Agreement (CEPA). Under this agreement, the Mainland will further open its market in most service sectors for suppliers in Hong Kong, a move that is expected to attract companies and talent worldwide and foster a sense of hope for the economic future.
From Monday this week, central Hong Kong authorities scrapped duty-free payments for mainlanders shopping in the semi-autonomous territory in a move expected to boost spending by Chinese tourists. Thus, Lee urged residents to renew their commitment to take advantage of the latest measures but warned them of challenges ahead, citing unspecified changes in economic circumstances.
Hong Kong is now in a transition stage. The different sectors of our economy will have to face new challenges due to the fast-changing economic situation around us.
The Hong Kong Government to Focus on Developing Economy With China
Another policy announced by Chinese authorities will give Hong Kong companies more preferential treatment to tap the mainland market under the Closer Economic Partnership Agreement, with details to be announced later.
These measures, including the new visa permits and the Mainland-Hong Kong CEPA, are crucial in better integrating Hong Kong into the Greater China Bay Area economic group. This integration, including Macau and nine mainland cities, will ensure that Hong Kong remains a key player in the regional economy, fostering a sense of inclusion among the audience.
Increased transport links have helped record numbers of Hong Kong residents travel to neighboring cities on holiday, leaving local shops empty on holidays and weekends. Retail sales fell 14.7 percent in April 2024 compared to last year’s, the biggest drop since 2020.