With effect from August 1, 2001, Mainland students who have graduated from UGC-funded institutions since 1990 have been allowed to enter Hong Kong for employment. They should also possess skills or knowledge of value to, but not readily available in, Hong Kong. The objective of this arrangement is to attract outstanding Mainland students who have completed full-time studies at bachelor or above level to re-enter Hong Kong for employment after graduation, so as to increase Hong Kong's competitiveness in the knowledge-based global economy. During the year, 97 Mainland students received approval to enter through this channel.