With steady economic recovery in the US, and the debt crisis in Europe stabilising, we expect to see a more positive outlook in the Hong Kong financial services market.
The banking sector has maintained healthy growth, characterised by steady credit expansion and more favourable liquidity conditions. Hong Kong’s stock market was the sixth-largest in the world, and the second-largest in Asia in terms of market capitalisation at the end of July 2013, and it was the most active market for initial public offerings.
One of the largest asset management centres in Asia, Hong Kong continues to attract international investors. Chinese institutions are pushing into the private banking market and competition for private bankers has intensified.
We have also seen higher recruitment activity across a number of rating agencies looking to expand their Asia operations. All these factors contribute to an ever-changing banking and financial services environment, and the industry continues to create opportunities for highly qualified young professionals in Hong Kong. These opportunities remain highly competitive, so relevant academic backgrounds, qualifications and internships are crucial.
Christopher Aukland, HK and Southern China regional director, Michael Page
As told to Chiu Po-sze