Nurturing and Attracting Talent
57. The importance of talent
to economic development has been thrown into sharp
relief by globalisation.
While containing overall expenditure, we will
continue to invest heavily in education.
The allocation for education in 2005?6 will
still represent the biggest share, or nearly one quarter
of recurrent expenditure.
The Government will also
endeavour to attract more talented people and
professionals from overseas and the Mainland, so as to
upgrade our human resources and meet the needs of
in its transition to a knowledge-based economy.
As I mentioned in last year's Budget, I head a
committee to ensure the smooth operation of the
assessment procedures under the Admission Scheme for
Mainland Talent and Professionals.
Since the introduction of the scheme in July
2003, we have received nearly 7 000 applications,
over 80 per cent of which have been approved.
The applications cover a wide range of sectors
including academic research and education, commerce and
trade, financial services, culture and the arts, and