There is a wave of immigration in Hong Kong. The Secretary for Labour and Welfare, Law Chi-kwong, was asked whether the emergence of immigration will affect the labor force on the Hong Kong Radio Television Millenium program today (14). He quoted last year’s data and replied: “There were more Hong Kong residents who returned last year (2020) than those who left Hong Kong,” but admitted that the current working population is declining.
Luo Zhiguang said that in the first half of last year, “Hong Kong has become more than 200,000 people for no reason. I don’t know what to do, Hong Kong residents.” He pointed out that in the past 12 months, people in Hong Kong had left, “walking, coming in and out, the difference is about 110,000 to 120,000, but according to the year of last year, Zhong Duo has people.” He pointed out that it is not clear whether the residents returning to Hong Kong will return to Hong Kong to retire. He pointed out that in terms of labor force, the manpower of the 60 to 64-year-old age group in Hong Kong is currently declining.
Hong Kong has a population of 87,000 less this year
Luo Zhiguang said that more Hong Kong residents returned to Hong Kong last year. However, the “Stance News” checked the latest statistics from the Census and Statistics Department and found that the population of Hong Kong this year has dropped from last year. The population of Hong Kong in mid-2021 was 7,394,700, a decrease of 87,100 or 1.2% from the 7,481,800 in mid-2020.
In addition, Luo Zhiguang also mentioned the MPF conversion method. He pointed out that the Chief Executive has clarified that it will not be enforced. “People who know Hong Kong know that it is a fantasy to compulsorily convert an MPF into an annuity.” He said that the public annuity plan started in 2018 and can be discussed again after it has been implemented for about three years.
He pointed out that the public annuity plan guarantees a return of five percent every year. “I don’t know what to do.” He believes that two types of people will be attracted by this plan. It’s almost certain that I will buy it after retirement as one of my investment portfolios until I get old in a hundred years.”
The other category is for the elderly with low MPF income. He pointed out that there are currently about 3,000 people who receive the elderly living allowance who have bought an annuity. He explained that a public annuity of 50,000 yuan can be “entry”, while the elderly living allowance The upper limit of assets is 365,000, “If you have 500,000, put 150,000 into the public annuity, and then take the elderly living allowance, and add the elderly living allowance to the annuity, the living standard will be much better.”
