In an effort to lure young talent from Hong Kong to the mainland, several banks have created recruitment initiatives in their Greater Bay Area businesses.
A handful of global banks including HSBC and Standard Chartered have created various programs to attract youth in Hong Kong to enter financial services in the cluster of 11 cities, boasts 72 million residents and an economy with an estimated size of over $1.6 trillion.
The move falls in line with the policies of the current Hong Kong administration under chief executive Carrie Lam, who in her policy address last month encouraged the employment of Hong Kong youth in the Greater Bay Area (GBA) to further develop regional technology and innovation. She also rolled out a scheme that is expected to include 2,000 placements.
GBA Plans
At HSBC, it kicked off the construction of a 16,000 square meter global training center based in Guangzhou which is expected to complete by 2024. Its regional CEO Peter Wong said in a statement earlier this month that «demand for talent will only grow exponentially», citing opportunities from technology and the green economy.
Hong Kong-focused British rival Standard Chartered said it would rotate fresh grads from its international program to GBA and is currently investing in a $40 million Guangzhou-based center that will house more than 1,600 employees by 2023 including young Hong Kongers.
Foreign lenders aside, local banks are also contributing to Hong Kong-GBA talent flows with Bank of East Asia offering opportunities for young Hong Kongers to work in its existing branches in nine GBA cities. Bank of China (Hong Kong) is making a major splash, funding various charitable organizations with projects that are expected to offer a whopping amount of over 110,000 positions, according to an «SCMP» report.
