New Govt Urged To Set Out Concrete Youth Policies
The Society for Community Organisation (SoCO) on Sunday urged the incoming government to provide more support for underprivileged young people so they can climb up the social ladder.
The group conducted an online survey with 100 people from grassroots families aged between 15 and 25 earlier this year.
Almost 60 percent of the respondents said they chose not to "lie flat" – a term used to describe young people rejecting the rat race and doing the bare minimum to get by.
Still, some youths from grassroots families said the circumstances they were in had forced them to aim lower.
Kacey, a second year university student who is also working part-time, said she's no longer working towards her goal of purchasing her own flat.
"Sadly, when property prices were soaring, [young people's] pay was not increasing much, and it's a reality that we were forced to accept. When I saw the sky-high housing prices, my goal of buying or renting a flat that I am satisfied with, while not having too much financial burden, slowing faded away, so I started to lower my expectations," she said.
"Even if I apply for a public housing unit alone, it would still take years, and I might end up only getting a bed space. Whenever I think about the future, I feel helpless."
Another university student, Vicky, who's studying Chinese medicine on the mainland, said she was caught between improving her financial situation and having a better career prospect.
"I would come back to Hong Kong every summer break to work, because if I don't come back and work, it would be very difficult for me to pay for the tuition," she said.
"There would be summer internships available at clinics, but those do not pay at all. So I have to decide – if I don't work during the summer, I will not have money for the next academic year and for daily expenses; but if I do not choose to take an internship, when I want to get a master's degree or find a job in the future, I would be less competitive because I have less experience."
SoCO's deputy director, Sze Lai-shan, said the government should roll out policies for those who do want to work hard to improve their lives.
"We think the government should set up [key performance indicators], so they can assess the goal, the outcome, the output, and the impact of their policies to help youths. This is more basic for the government to do that,” she said.
Sze added the government should make an effort to include grassroots young people in consultation committees on issues such as education, housing, employment
She also hoped incoming authorities would interact more with the younger generation, especially through the proposed Home and Youth Affairs Bureau under the government restructuring plan.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more