Excerpted from the Hong Kong Career Guide

Hong Kong advanced ahead of both the United States and the United Kingdom to rank first in the World Economic Forum’s Financial Development Report. Hong Kong is the first Asian financial center to have achieved this rank. Its “position was bolstered by strong scores in non-banking financial services such as IPO activity and insurance,” according to the WEF. As a major financial center, Hong Kong is home to many of the world's most prominent banks, investment banks, insurance agencies and trading companies. And it is the premier stock market for Chinese firms seeking to list abroad. Mainland Chinese companies recently constituted about 43 percent of the firms listed on the Hong Kong Stock Exchange and accounted for 56 percent of the exchange's market capitalization.

Hong Kong’s financial sector accounts for more than 25 percent of its GDP. Last year, a massive expansion in the offshore renminbi market drove job growth in Hong Kong, according to global human resources firm Kelly Services.

Areas of Job Promise

Finance and Accounting

• Regulatory candidates: Hays reports regulatory candidates with expertise in HKMA banking returns at the preparer level (three to five years of experience) and the reviewer level and above (five years or more) are in high demand in Hong Kong’s financial services sector. Candidates with Basel III knowledge are also needed.

• Big Four candidates: Employers are looking at candidates with experience in the Big Four (Deloitte Touche Tohmatsu, Ernst & Young, KPMG, and PricewaterhouseCoopers), according to Hays. Recruiting incentives include career progression as employers seek to attract external candidates who want to build careers in the industry.

• Internal Auditors and Financial Planners/Analysts: The need for internal auditors and financial planners/analysts will grow as companies continue to build regional finance operations in Hong Kong, according to Michael Page. Employers are offering career development opportunities and competitive salaries and bonuses to lure top candidates.

• Financial advisors: Financial advisors are also highly sought by businesses that are restructuring and evaluating their internal finance procedures, according to Michael Page.

• Financial Planners and Analysts: Financial planning and analysis skills are needed in the property and real estate sectors, as well as corporate strategy and planning experience across the IPO market, according to Michael Page.

Organizations and Trade Associations

Association of Chartered Certified Accountants (ACCA) - Hong Kong
http://hongkong.accaglobal.com/ (English)
The Association of Chartered Certified Accountants is the global body for professional accountants. The association provides support to 140,000 members and 404,000 students throughout their careers through a network of 83 offices and active centers. ACCA Hong Kong provides a wide range of services including promoting the ACCA qualifications in Hong Kong, providing administrative and secretarial support to the committee, and assisting the head office in mainland China.

ACCA Hong Kong
1901, 19^th Floor, World Wide House
19 Des Voeux Road
Central, Hong Kong
Tel: +852 2524-4988
Fax: +852 2868-4909
Email: info@hk.accaglobal.com

Publications

The Asset
http://www.theasset.com/ (Chinese, English)
The Asset is an integrated multi-media magazine serving the elite community of leading corporate and financial decision makers in Asia. Since 1999 the magazine has built a powerful reputation for delivering authoritative, unbiased coverage and independent research of Asia’s financial industry. Through these highly regarded services, The Asset facilitates communication and understanding between the users and providers of financial services in Asia.

Asset Publishing and Research Limited
Suite 1203 - 1205, 12^th Floor
Chinachem Exchange Square
1 Hoi Wan Street
Quarry Bay, Hong Kong
Tel: +852 2573-6078
Fax: +852 2573-7436

This is just a short sample of what you’ll find in over 100 pages of information in the complete Hong Kong Guide.