Intern in the Financial services industry in Hong Kong

Intern in the Financial services industry in Hong Kong

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Thriving on excellent communications with the globe market, the rule of law, free capital inflows and outflows, strong investor protection, as well as a well-educated labour force, Hong Kong is a city where financial services sector is one of the most vital economic pillars, accounting for

18.9% of its GDP and providing more than 258,000 jobs in 2017. It is the right time for someone who wants to start their financial career in Asia here. There are a lot of great possibilities to intern in this sector and after your internship get hired. Furthermore, China has just launched two major projects: the “Guangdong-Hong Kong-Macao Bay Area” (Greater Bay Area) and the “Belt and Road Initiative”. Both projects will surely propel the development of financial sector in Hong Kong and the regions nearby.  

 

Hong Kong as International Financial Centre

 

The unique position of Hong Kong as a leading international financial centre not only comes from its location (at the heart of Asia), but also the extensive geographical, cultural and linguistic links with the Mainland as well as the unique advantage of ‘one country, two systems’. Moreover, the trading system in Hong Kong is trading 24-hour continuously with other major global financial centers, including New York and London. 

 

In fact, Hong Kong’s international financial centre status and reputation is well known and well recognized. According to the Z/Yen Group and China Development Institute in March 2019, Hong Kong was ranked 3rd in the Global Financial Centers Index (GFCI) and Hong Kong has been consistently ranked as one of the top international financial centers in Asia; The city also commented by the International Monetary Fund Staff Mission, saying this city has bountiful fiscal reserves and robust financial regulatory and supervisory frameworks to navigate challenges.  

 

  Hong Kong as international hub                                                                                                                                                      

 

 With so many foreigners working in Hong Kong this bustling metropolis has a truly international vibe and can be a thrill to live in. All the skyscrapers will make you feel like you are in a futuristic   place but also there is plenty of nature just outside the city to relax and enjoy the quiet. Interning in this city will be a tremendous experience and a huge boost to your international career. You   can  meet people from all over the world and share in everyone’s culture and opinions, learning new things every day.

 

Legal system

 

Hong Kong’s financial services sector is highly liberalized with effective and transparent regulations that are in line with international standards. Hong Kong has its own legal system, which is based on the rule of law and the independence of the judiciary. Hong Kong legal system is based on the combination of English common law and local legislation codified in the Laws of Hong Kong, and such system is different from the Mainland China civil law system. 

 

Regulations

 

The Hong Kong government facilitates initiatives to ensure the regulatory framework will protect investors and promote market development for both local and global needs. Hong Kong is a member of the Basel Committee on Banking Supervision and the Financial Stability Board, and the city continuously refining the Banking Ordinance and regulatory guidance in order to meet the international standards on banking regulation. On the other hand, different local authorities also safeguard and maintain the stable operations of Hong Kong financial

sectors. For example, the Hong Kong Monetary Authority maintains currency stability within the framework of the Linked Exchange Rate System through sound management of the Exchange Fund, monetary policy operations; The Insurance Authority assumes statutory functions on the regulation of insurance companies. 

 

Hong Kong as China’s Global Financial Centre

 

The infrastructure of Hong Kong’s financial sector is well established and in sustainable growth. This is the inspiring modern city where you can give full play to your financial expertise. Financial job opportunities are exploding here, because the city is profoundly benefited from the rapid economic growth in China. As aforementioned, there are already two strategic national projects ongoing. Moreover, serval key financial areas of Hong Kong are, indeed, deepening its connections with China’s, implying, your career path and potentials will not be limited in this 7-million-people metropolitan, but can be extended to the 1.4-billion-people country!  

 

Capital Formation Centre and Global Investment Platform for Mainland                                                                                          

Mainland enterprises can raise capital in Hong Kong through the issuance of bonds, project financing and loan syndication. In fact, more and more Mainland companies are listing on the

Stock Exchange of Hong Kong Limited (SEHK) to raise international capital, because of Hong Kong’s unique position as an international business centre and its world-class investment banking services. 

 

Financial Connections

Hong Kong’s financial services sector is increasing the breadth and depth connection with China, meaning abundant opportunities are coming in future. Some examples have already accomplished in last serval years. Hong Kong remained the leading and most important offshore RMB hub in 2017; The Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect have continued to enhance cross-border market accessibility since they were launched in 2014 and 2016 respectively; The Closer Economic Partnership Arrangement (CEPA) gives Hong Kong’s financial service providers and professionals greater market access and flexibility in their Mainland operations.

Apart from all the advantages the working in the financial sector in Hong Kong has, living in Hong Kong is also a great experience on personal level. Where you will be busy during the day with work, in the night this booming city has plenty of options to enjoy a vibrant night out and meet international people from all over the globe. Life in the city is convenient with a well developed infrastructure, transport system. English levels are high which decreases the language and cultural barrier.

 

 If you’re interested in finding out more about internships in the financial services industry, we advise visiting AIP their website and exploring their program offerings in   more detail. If you’re ready to apply, then head to their application form and a member of their team will soon be in touch to help guide you to the right   internship position in the right company.

 Once you’ve submitted your application, they will be in touch to schedule an interview to find out more about you. Following this, you’ll be enrolled onto their program and the internship matching   process will begin. In order to ensure you have enough time to interview, secure a position and get your visa, we advise applying 2-3 months ahead of your intended start date.

 What are you waiting for? Take the first step towards your dream internship in Hong Kong!

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