Source: China Daily
Riding the dynamism shown by emerging industries, and highlighting its own progress toward becoming an international financial center, Shanghai has won the hearts of Hong Kong's younger generation.
Hong Kong's 31 post-secondary university students majoring in finance recently visited the metropolis as part of a study tour.
They visited companies and financial institutions in Shanghai and took part in meetings with local officials from the banking and insurance regulatory commissions.
The study tour's purpose was to give Hong Kong's young people a better understanding of the local market.
The students visited a number of leading market players from the emerging sectors, including Shanghai-based online karaoke service provider MChang and e-sports company Versus Programming Network.
MChang's founder Liu Jian interacted with the students and shared his experience of setting up his own business. He stressed the importance of startups seeking financial support from the capital market during their early days.
Yu Sing-yuk, a finance major from the Hong Kong University of Science and Technology, said the visits to local companies totally changed his stereotyped impression of the mainland market.
"I thought that most of the mainland companies would still be entrenched in traditional industries," he said. "But the fact is, the New Economy is developing at an unparalleled rapid pace." Shanghai offers plenty of career opportunities to budding talents, he said.
The visits to companies engaged in innovation and technology will help the Hong Kong students to have a better understanding of the economic development on the Chinese mainland, said Shannon Cheung, president of the Hong Kong Fin Society.
Given that both Shanghai and Hong Kong lay stress on financial services, the visiting students were offered internships at Shanghai's financial institutions, he said.
"Knowledge of the operational models adopted by the mainland's emerging companies and work experience at the mainland's financial institutions, will be of great help to young Hong Kong students seeking to land jobs at financial institutions in the future," Cheung said.
Lam Chun-hin, a computer science major from the Open University of Hong Kong, was provided a one-month internship at the operations department of the insurer AIA China.
He will be responsible for insurance policy, settlement of claims and after-sales service during his stint.
With an insurance license in Hong Kong, Lam has gained work experience at local insurers. While Hong Kong has a comparatively fool-proof legal system in the insurance sector thanks to its longer development history, he found the mainland market has overtaken its peers in Hong Kong in terms of adopting modern technology.
"While most people will go to their agents in Hong Kong, consumers on the mainland can complete all the procedures on their smartphones since many insurers here have moved a large part of their business onto apps," he said.
"The fintech (financial technology) industry on the Chinese mainland market has shown rapid growth. Given the large market demand and the vibrant workplaces, it'd be a great chance to work here upon graduation," Lam said.
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