CUNFIDENTIAL
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30.
All the 31 beneficiaries have significant business interests in various sectors of the economy. The retention of these entrepreneurs in Hong Kong is an important element in maintaining a high level of economic activity locally and stabilising the confidence of both residents and foreign investors in Hong Kong.
Successful undertakings"
applicants scoring points for service with "British
31.
Under the point system, employees of "British undertakings" score one point for every 6 months' relevant service up to a maximum of 35 points. Of the 155 successful applicants in the general occupational class, 17 score points for their current service with British undertakings and 2 for their past service.
32.
A special advisory group, chaired by the Senior British Trade Commissioner, was set up to advise me whether certain firms or organisations could be regarded as "British undertakings" for point-scoring purposes. In making the recommendations, the advisory group has taken into consideration factors such as the country of incorporation of the organisation and of any controlling company; the nationality of shareholders, managers or partners; and, the extent to which the organisation carries on trade or has business connections with the United Kingdom. The list of approved "British Undertakings" is available for public information.
CONFIDENTIAL
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