Financial services job numbers swell in Hong Kong, China in first quarter of 2017

The available number of jobs in financial services rose in Hong Kong and mainland China rose in the first quarter of 2017, though quite a few layoffs were witnessed and an air of uncertainty hit that sector.

Financial services Jobs Availability in Hong Kong was about 56 percent higher during January-March 2017 when compared to its immediate previous quarter, said a report of the global recruitment consultancy Morgan McKinley. On the other hand, it rose by 105 percent in mainland China during the corresponding period.

Richie Holliday, Morgan McKinley’s COO for Asia Pacific, was quoted by South Morning China Post as saying that all types of financial institutions such as insurers, banks and asset managers have been hiring in areas of technology, particularly artificial intelligence, and compliance.

China Merchants Bank is said to have announced at an investor briefing in the last week of March that it was mulling spending about one percent of its profits it would accrue in future on financial technology and development. It added that as per its own calculations, the cost of a mobile-based transaction was 0.27 Yuan, only 1.8 percent of the cost of a similar counter-based transaction.

According to Holliday, there is also a seasonal issue in the increase in the number of jobs. He added that persons with insights into markets of China or Hong Kong or with language proficiency in Chinese were more likely to be wanted by employers than foreign candidates.

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