Breaking News & Recruiters Analysis: A Strong Opening Up Signal from the Conclave of China – Bo’ao Forum of Asia
Mr. Gang YI, the Governor of the People's Bank of China, announced the further liberalization and time line of financial sectors at 2018 Bo’ao Forum. To help our clients in the relevant sector adjust/ plan/ forecast their recruitment activities, we have tailored the relevant agenda accordingly with a few trimmings and brushes done to the bombarding information flow. Please see the following time table.
Before all things start, one deserves specific mentioning is that, to respond the opening up, AMAC specially sets up English test for foreigners to acquire fund practice license. What may be conceived of this signal is that the regulators intention to bulldoze the Mandarin Wall of foreign professionals coming in their way to China; they have finally realized that no matter how agile the technological reformations may be, in the theatres of financial markets, talents attraction will always be the cornerstone of development and prosperity.
Let’s take a sneak peak of some key points of time for the upcoming rest of 2018:
Securities and Asset Managers
Stock Connect and QDII
Our Forecast as Recruiters:
To optimize the standardization and stability of the financial market, as well as strengthen international competitiveness, Chinese government will keep opening the door to international market. Accordingly, the financial regulation and system will be adjusted for better operation.
More foreign specialists with experience in mature market are willing to join China-based team to introduce advanced investment and management strategy, however, as we mentioned before, China is not a liberal market, it would be better to hire local talents (junior to senior level) to set up the new business here.
QDII quota eventually will be renewed after 3 years' backwater state. Potentially the business will welcome a new boom. Talents familiar with overseas market and products are becoming hot again.
With so many ways to invest in China market, the QFII business is declining. Candidates who only have QFII experience should begin to consider where to go for further development.