TNAG-2631-FCO40-3822-Future-of-Hong-Kong-nationality-British-Nationality-(Hong-K-1992 — Page 90

10-DEC-1991

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HONT (UK)

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30.

All the 31 beneficiaries are well-known entrepreneurs in

sectors.

The

Hong Kong who have businesses in various sectors including the industrial, financial, construction, services and communications retention of these entrepreneurs in Hong Kong is essential to maintaining the high level of economic activity locally and stabilising the confidence of both residents and foreign investors in Hong Kong.

31.

The investments of these entrepreneurs in Hong Kong are worth billions of Hong Kong dollars, creating a lot of job opportunities in the territory. The majority of them employ over 1,000 people and some have more than 10,000 people in their employment.

applicants.______scoring___points

for service with "British

Successful undertakings"

32.

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.

33.

A special advisory group, chaired by the Senior British Trade Commissioner, was set up to advise the Governor on whether certain firms or organisations could be regarded as "British undertakings" for point-scoring purpose. In making the recommendations, the advisory committee has taken into consideration factors such as the country of incorporation of the undertaking and of any controlling company; the nationality of shareholders, managers or partners; and, the extent to which the undertaking carries on trade or has business connections with the United Kingdom.

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