Business / Industries

More jobs in financial sector expected

By XU WEI ( Updated: 2014-04-17 15:22

China's finance and banking sector will have strong need for new jobs in the next few years as the country further pushes forward the financial reform, according to British specialist recruitment group Hays.

More jobs in financial sector expected

According to the company's latest quarterly report that lists skills in high demand in China, employees in the financial, banking and accounting sectors are currently in short supply.

"We have already seen strong demand for professionals in China's financial sector. Central bank governor Zhou Xiaochuan promises further liberalization of the sector in the years ahead, and this bodes well for job creation,” said Simon Lance, regional director of Hays in China.

"The potential liberalization of deposit rates within one or two years, a quickened pace for the internationalization of the renminbi and the introduction of more competition into the banking sector are all set to stimulate growth,” he said.

The company also expects professionals in the tax sector will be increasingly in demand as the liberalization of currency takes place.

"Tax policies often change and need to be interpreted by professionals. Most multinational companies already hire tax specialists to communicate with the tax bureau in order to minimize tax risk and reduce unnecessary tax payments. There is currently a shortage of tax specialists and we see this continuing,” Lance said.

According to another survey by the recruitment company, of 374 professionals polled, 74 percent said they have ambitions to obtain the position of company executive.

Another 21 percent said they have ambitions to work in mid- to senior-level management. Only 5 percent of respondents said they do not want to work in a management role.

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