Hong Kong to suspend investor immigration scheme   

(ECNS) -- Hong Kong's Capital Investment Entrant Scheme (CIES), an immigration program for investors, will be suspended effective January 15, 2015.

The objective of the CIES program was to facilitate the entry of persons who conducted capital investments in Hong Kong, but would not be engaged in the running of any business there.

Leung Chun-ying, Chief Executive of the Hong Kong Special Administrative Region, made the annual Policy Address on Wednesday, according to a press communiqué.

During the report, Leung said Hong Kong would make a clear list of investment categories to attract more overseas entrepreneurs to run their businesses in the city.

Hong Kong will also strive to attract a second generation of permanent residents who moved overseas.

Young people with excellent educational backgrounds or international working experience would be further encouraged to stay in Hong Kong.

Working with the high-added-value and diversified nature of its economy, the city would test the feasibility of a talent list to appeal to highly skilled workers at foreign companies.

In terms of cultivating homegrown talent, Leung added that Hong Kong will broaden its employment roles, as well as provide greater learning, training and development opportunities.