Hong Kong, China -- (SBWire) -- 02/17/2021 --The Hong Kong General Chamber of Commerce (HKGCC), recently unveiled its 2021 economic forecast – envisaging real GDP growth of around 3.5%. Moreover, throughout Hong Kong and, more broadly North Asia additional opportunities are also on the horizon. Mainland China has given clear signals indicating its interest in opening a key financial services sector to foreign investment. One example of this is China's wholly foreign owned enterprise (WFOE) rules, allowing foreign investors to further capitalise on growing investor demand. But what does this mean for financial services careers in Hong Kong? As leading recruitment specialists within this field, Selby Jennings predict that this WFOE will yield results across several international banks within Hong Kong which will seize on the opportunity to take either a majority share or a wholly owned stake in their onshore China securities and asset management businesses.
Another signal manifests in the People's Bank of China Wealth Connect plan, which bodes well for the Greater Bay Area, and is especially promising holistically for Hong Kong's banking community. Selby Jennings also expect to see traditional banking up against a rapidly developing and highly competitive push from virtual banks, and this forms just one example of a number of innovative activity bursts that will enhance a positive outlook for the future of the Hong Kong financial sector. According to a report by Tsinghua University People's Bank of The China School of Finance, the number of high net-worth individuals in China now exceeds 1.3 million. Further, with schemes such as the Wealth Connect Scheme, which allows millionaires to move their money across borders, exponential growth when considering the opportunities for private bankers can be expected to rocket.
Selby Jennings have over 750 employees with expertise in over 60 countries worldwide and a base of 12 office locations. Their ability to ensure confidence in their hiring procedures is one aspect of the financial services industry which Hong Kong professionals can rely on. Selby Jennings is the leading specialist recruiter for financial services careers in Hong Kong. Their repertoire is extensive as they cover a plethora of sectors in the financial services industry with a network of one million mid-to-senior professionals who provide regular information on the current market. Selby Jennings understand the importance of hiring with confidence and pride themselves in their ability to provide peace of mind for the companies who have relied on their services for over 15 years. As part of the Phaidon International Group, the firm is the chosen recruitment partner for over 70+ world-leading companies.
"Like many sectors, 2020 marked a defining moment for recruitment. Challenged by uncertainty, but unwavering in our commitment to our clients, we enter 2021 with a sense of duty to clients and candidates", commented Luis Rolim, Global Marketing Director at Selby Jennings. He went onto say, "as we reflect on the challenges of virtually securing and retaining talent, we're inspired by a team who have demonstrated a remarkable ability to adapt and continue to help all our clients secure top talent on a global scale."
To find out more information about financial services recruitment in Hong Kong visit
https://www.selbyjennings.hk .
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For all other enquiries please contact Selby Jennings: +852 3008 1901.
For more information about Selby Jennings services, please go to https://www.selbyjennings.hk.
About Selby Jennings
Selby Jennings knows that building the right team isn't easy. However, with the support of the right hiring partner, access to key networks and contacts, it's possible to reimagine the process of recruitment to make it more positive, satisfying and productive.
Financial Services Careers Throughout Asia