HONG KONG -- Invest Hong Kong of China's Hong Kong Special Administrative Region (HKSAR) government announced on Monday that as of the end of February, the New Capital Investment Entrant Scheme received nearly 3,200 applications.

The figure represented an anticipated investment value of about 95 billion Hong Kong dollars (about $12.14 billion) for Hong Kong. The scheme has steadily attracted global high-net-worth individuals and capital inflows to Hong Kong since its launch in March 2024, according to Invest Hong Kong.

Alpha Lau, Invest Hong Kong's director-general of investment promotion, said that upon arriving in Hong Kong, investors under the scheme will not only bring substantial capital inflows but also generate ripple effects across real estate, dining, retail, education, and lifestyle services. This will stimulate both high-end and daily consumption, subsequently creating economic benefits for local small and medium-sized enterprises and professional service sectors.

The scheme also bolsters Hong Kong's innovation and technology sector, further positioning Hong Kong as Asia's innovation and technology powerhouse, Lau added.