As for the stock market, the benchmark Shanghai Composite Index surged by more than 130 percent year on year in 2006 after a five-year bearish market, thanks to reformed securities regulations and continuing strong economic growth.

China's stock market may become the third biggest in Asia by the end of next year, according to a January forecast by Shanghai Stock Exchange executive vice president Zhou Qinye.

As new regulations come into play concerning foreign investments, Chinese fund managers and securities traders would like to foot it out with overseas competitors. The lack of financial talents seems rather serious.

A recent government document on qualified domestic institutional investors (QDII) allows domestic fund management and securities companies to follow commercial banks into the arena of overseas securities.

"We started preparing for QDII products nearly six months ago," said Xu Xiaosong, vice general manager of China Southern Fund Management Co Ltd.

"So we are recruiting. Unfortunately we are not the only ones. A number of big securities companies are looking for people," said a fund manager who asked to remain anonymous. "It's simple. If we want to win the competition we need the best team."

Not surprisingly, foreign banks are also on the lookout for qualified people in China. In 2005, the Bank of East Asia opened personal services, the first to do so in China.

In the China-US Strategic Economic Dialogue held in May, China agreed to allow foreign banks to issue their own yuan-dominated credit and debit cards.