Hong Kong Chief Executive Donald Tsang said on Thursday a new admission scheme will be launched in the first half of next year to allow specifically qualified elites from the Chinese mainland and overseas to reside in Hong Kong, without first having to secure a local employment offer.

Tsang said the elites can then decide whether to settle here long-term, adding the government is considering the introduction of an objective points system to assess applicants.

Speaking at the Economic Summit 2006, Tsang said the government will be proactive in exploring ways to protect the local workforce.

He said the Labor Advisory Board is now studying the question of a minimum wage and standard working hours. While he hopes the board can make some concrete progress on this issue in the coming months, if it does not he will put it to the Commission on Strategic Development for further deliberation.

Hundreds of personnel from Hong Kong's industry, commerce, and stock exchanges gathered at the summit to probe the tendency of economic development next year.

(Xinhua News Agency December 2, 2005)