Hong Kong braces for a 'long period of manpower decline'

Manpower supply to reach its peak in 2018.

In a report, Chief Executive CY Leung said Hong Kong will enter into a long period of decline in manpower resources after reaching a peak in 2018, adding the way in which the problem is addressed has implications for Hong Kong’s economic development.

Mr Leung was speaking to the media with Financial Secretary John Tsang and Secretary for Commerce & Economic Development Gregory So after the Economic Development Commission’s second meeting today.

Working group convenors had briefed commission members on their work progress, and government department representatives provided details about the forecast manpower situation.

Hong Kong’s labour force will increase gradually, reaching a peak in 2018, and then face a long period of decline, Mr Leung said, adding not tackling the problem in good time could hamper economic development.

On the burgeoning tourism front, Mr Leung noted it provides job opportunities for the grassroots, driving Hong Kong’s economic development. Still, the Government must strike a balance between tourism advancement and the city’s capacity to accommodate visitors, as pressure on resources could inconvenience city residents.

Financial Secretary John Tsang said Hong Kong’s economic development will be hindered if there is a lack of flexibility in manpower resources, adding the Government will study how to handle the problem.

Secretary for Commerce & Economic Development Gregory So said the Government will help the four working groups under the commission to study ways to enhance infrastructure construction, and bolster business opportunities and manpower training in Hong Kong.

The working group convenors also attended the media briefing, including Chow Chung-kong (transportation), Jack So (convention and exhibition industries and tourism), Victor Lo (manufacturing industries, innovative technology, and cultural and creative industries), and Lau Ping-cheung (professional services).