[Hong Kong's "New Capital Investor Entry Scheme" has approved more than 40 applications in principle]

Hong Kong Special Administrative Region Government Financial Services and the Treasury Bureau Secretary Paul Chan said in response to a question from a member of the Legislative Council meeting on the 12th that the Immigration Department has approved more than 40 applications for the "New Capital Investor Entry Scheme" in principle. Paul Chan said that from the launch of the "New Capital Investor Entry Scheme" (New Scheme) on March 1 to the end of May, Invest Hong Kong received more than 3,000 inquiries, mainly from potential applicants and service providers. More than 250 applications were received, and net asset reviews for more than 100 applications have been approved, including in Europe, the United States and Singapore. The Immigration Department has made "in principle approval" for more than 40 applications, allowing applicants to make the promised investment in Hong Kong as visitors. If all the applications received are approved, it is expected to bring more than HK$7.5 billion in funds to Hong Kong, enhancing the development advantages of Hong Kong's asset and wealth management industry.