Hong Kong talent and opportunities – the momentum is building
Earlier in the year, the first Global Online Career Fair organised by Hong Kong Talent Engage (HKTE) took place, in an environment of steadily improving financial markets and job prospects for people interested in considering a career move to Asia’s premier financial centre. Since then, momentum has continued to build, and HKTE is now organising a third online event for September, to capitalise on new interest in the city and to help maintain the flow of human capital to businesses and employers.
The year to date has been a highly successful one for the city; more capital was raised in IPOs in the Hong Kong market than in any other financial centre in the first half of the year. Debt capital markets, private equity and wealth management also saw strong recovery in their revenues and M&A advisory bankers’ services are increasingly in demand. After several lean years, there are clear signs of economy recovery and increased global investment; InvestHK, another specialised government agency, recorded that between January and April, it assisted 223 companies from Mainland China and around the world, 13% up on last year. To give an idea of scale, that would represent over $20bn of financial investment and 4900 jobs created in the first year of operation.
A significant proportion of these new investments come from companies in the USA, UK and Japan, setting up regional headquarters for the APAC geography. Hong Kong is a favourite location for this kind of investment, due to its status as a “global superconnector city” bridging between Chinese and international markets. Hong Kong also offers a transparent and responsive regulatory regime for financial services and fintech companies, a robust legal system and easy access for businesses leveraging Belt and Road opportunities. The investment banking and wealth management sectors have been prominently identified among the highest priority strategic sectors for the government.
In order to facilitate this kind of growth, the Hong Kong economy needs to maintain a flow of skilled immigration. Hong Kong Talent Engage has provided a comprehensive one-stop solution for international talent since its establishment in 2023. In the first quarter of this year, there were 45,000 applications to the various global talent admission schemes. These schemes include the Talent List of Hong Kong, a program covering 60 professions under nine industry segments including Financial Services, Legal and Dispute Resolution Services and Technology and Innovation. There is also a Top Talent Pass Scheme, targeted at graduates of a list of global elite universities.
Coming to work in Hong Kong
HKTE’s Third Global Online Career Fair will take place on September 17th and 18th. Candidates or those considering Hong Kong careers will be able to access the careers portal from the September 8th to preview the opportunities, and then to visit “virtual booths” during the event, set up by employers like DBS, Forvis Mazars CPA, Fujifilm, Gammon Construction, Grant Thornton, Manulife, New World Development, PwC, The Hong Kong Jockey Club, along with fintechs and startups. Recruiters will also be offering the chance to initiate direct chats over text, audio or video, and candidates will be able to gather brochures and listings virtually.
The success of the previous online events has shown that this is an efficient and convenient way for candidates to access the information that they need without having to make a journey. It also allows candidates who have a specific firm in mind to make direct contacts and learn about vacancies, while also gaining awareness of potential employers that they might not otherwise have considered.
Building a career in Hong Kong
The variety of potential opportunities remains the key attraction of Hong Kong to global talent. As well as a thriving startup infrastructure, with over 4,700 startup companies, it is host to local offices of 70 of the world’s top 100 banks, and to 15 regional headquarters of globally systemically important financial institutions. This means that for someone building a career, there is the potential to move between blue-chip companies from a variety of global systems and cultures, as well as to gain experience in smaller and innovative firms. Added to this, Hong Kong’s status as a global and regional investment hub means that working in the city gives a unique geographical perspective, with exposure to markets across the Asian region as well as links to North America and Europe.
Hong Kong’s thriving global community is multicultural and multilingual; the official languages are Chinese and English, with English more commonly used in professional sectors. As part of its one-stop service to global talent, HKTE organises language classes and even social events. It also provides information and advice on some of the important lifestyle aspects of moving to a new city, including family and education options, and even such everyday matters as setting up a bank account and getting insurance.
Just as importantly, though, HKTE continues to maintain ongoing links with international talent after they have begun their careers in Hong Kong. Its website features real time job opportunities, with as many as 8,000 postings on any given day, and the agency maintains a network professional human resources consultants offer ongoing career support and help with job matching, through a rapidly expanding network of partner organisations. This kind of support is a particular advantage for global professionals who see a period in Hong Kong as a key step in accelerating their career development; many of the most senior executives at the biggest financial firms in the world spent a period working in Hong Kong.
As the latest economic data shows, Hong Kong is now emerging from a period of global uncertainty and showing some of the best economic and employment opportunities anywhere in the world. The first step for candidates interested in taking advantage of these opportunities is to register for the Global Online Career Fair and then move on to starting their career journey in Hong Kong.
