The government on Wednesday said a renewed capital investment migrant scheme could bring investments worth HK$27 billion to Hong Kong.

The New Capital Investment Entrant Scheme was launched in March last year, with the minimum amount of investment for applicants tripled to HK$30 million.

In a written reply to Legco, financial services minister Christopher Hui said more than 900 applications have been received for the scheme.

He said about 750 applications have been approved in principle, and some 340 cases have been officially greenlit.

The minister said HK$27 billion of investments will be brought into the SAR if all cases are approved.

Hui said none of the applicants have invested in residential flats so far, and that among the more than HK$10 billion of approved investments, some HK$5.1 billion have been made in collective investment schemes, HK$3.6 billion were put into equities, and HK$1.8 billion were made in debt securities.