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Hong Kong launches $3.8bn fund to attract foreign businesses back
Chief executive says territory will ‘trawl world for talent’ after lockdowns and political unrest cause brain drain
Hong Kong has unveiled a HK$30bn ($3.8bn) co-investment fund to attract overseas businesses back to the city after an exodus of talent prompted by strict lockdowns and a tumultuous political climate.
A raft of measures to address the brain drain were announced by Hong Kong’s chief executive, John Lee, in his first policy address on Wednesday – although his plans have largely failed to reassure investors.
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