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Shanghai targets financial talent it lacks
By Zhang Fengming |
September 11, 2010, Saturday
|
Print Edition
Print Edition
Shanghai yesterday issued a revised list of financial professionals whom it is trying to attract because it sees them as necessary to help the city on its ambitious track to become a global financial center by 2020.
The list, a revision of one unveiled in 2005, covers specific areas in which Shanghai really needs financial professionals, including private banking, marine finance and offshore financial services.
The city is also trying to entice talent in the private equity, venture capital, as well as financial professionals for the green industry which is slated to grow in importance.
In July, the city conducted a survey of 94 institutions including banks, insurers and trust companies to learn about their professional needs. The city lacks experienced and versatile financial veterans especially those experienced in mature markets.
There are more than 3,000 Chinese with overseas studying experience working in the city's financial industry, with another 2,000 financial professionals from overseas holding senior positions. But the numbers are still insufficient as the city aims to be a global financial center.
The financial industry is expected to have 360,000 practitioners by 2015 in Shanghai, a rise of almost 50 percent from the current level.
Since 2008 Shanghai has launched two overseas hiring campaigns in cities like London and New York to lure expatriates or Chinese working in the financial industry to work here.
The list, a revision of one unveiled in 2005, covers specific areas in which Shanghai really needs financial professionals, including private banking, marine finance and offshore financial services.
The city is also trying to entice talent in the private equity, venture capital, as well as financial professionals for the green industry which is slated to grow in importance.
In July, the city conducted a survey of 94 institutions including banks, insurers and trust companies to learn about their professional needs. The city lacks experienced and versatile financial veterans especially those experienced in mature markets.
There are more than 3,000 Chinese with overseas studying experience working in the city's financial industry, with another 2,000 financial professionals from overseas holding senior positions. But the numbers are still insufficient as the city aims to be a global financial center.
The financial industry is expected to have 360,000 practitioners by 2015 in Shanghai, a rise of almost 50 percent from the current level.
Since 2008 Shanghai has launched two overseas hiring campaigns in cities like London and New York to lure expatriates or Chinese working in the financial industry to work here.
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