Students in HK expressed interest in a fintech career in the city with links to the GBA: survey

On the Agenda

The Greater Bay Area is a major policy plan envisioned by the Chinese government for an integrated 11-city cluster involving Hong Kong, Macau and the southern mainland region. Amongst the sectors that some believe will be a major beneficiary of development is financial technology.

And according to a Bloomberg survey of 200 university students, 79% expressed interest in pursuing a fintech career in Hong Kong with connectivity across the GBA. 92% were very familiar or somewhat familiar with the GBA with 81% associating the megalopolis with topics related to innovation.

18% expressed a preference for focusing solely on Hong Kong.

In terms of further support for fintech careers, 76% of respondents cited access to training programs as a requirement to enter the industry.

Fintech skills that attracted the greatest interest included data analysis and big data (57%), AI and machine learning (54%), financial product development (42%) and digital payments (42%).

Various efforts are underway to build the fintech talent pool. This includes the second year of the “Greater Bay Area Fintech Talent Initiative” which involves collaboration between Bloomberg, the Hong Kong United Youth Association (HKUYA) and the Hong Kong Monetary Authority (HKMA) alongside 22 strategic and corporate partners.

A two-way internship scheme for post-secondary students was also launched by the Financial Services and the Treasury Bureau of the Hong Kong government with participation from 70 students and 30 fintech companies.

“The HKMA recognizes the importance of collaborative efforts among the industry players to develop a sustainable local talent pipeline,» said HKMA chief executive Eddie Yue.

“Given the tremendous potential of the GBA, Hong Kong should capitalize on the connection with the cities in the area to tap into new opportunities. The young generation should as well embrace an entrepreneurial mindset and stay open-minded to contribute to the fintech sector,” he said. MDT/Finews.asia