China offers great opportunities to fintech talents
July 30, 2019 Category China News Round-up, Weekly
China is at the forefront of the financial technology or fintech industry, and offers great opportunities for fintech talents, driven by the rising demand for experienced financial services and technology professionals, industry experts said. Fintech professionals who possess both technical expertise as well as an understanding of finance will be highly sought after, according to Hays, a global professional recruiting group. “In China there are opportunities for skilled candidates across a wide range of fintech businesses, including banking, insurance, wealth management and payment services,” said Simon Lance, Managing Director of Hays China, adding the industry risks losing valuable momentum given the shortage of skills and the overwhelming demand for experienced professionals.
According to Hays, large-scale commercial banks are accelerating the establishment of fintech subsidiaries across the country. It said the roles in demand in the banking sector include data security, data scientists, user experience and user interface engineers, and full stack developers for mobile and web applications. Global fintech funding rose to USD111.8 billion in 2018, up 120% from USD50.8 billion in 2017, fueled by mega mergers and acquisitions and buyout deals, according to KPMG. “China is at the cutting edge of the fintech industry and will provide a robust and exciting career for many years to come,” Lance said.
There is high demand from fintech startups for high-caliber talents with expertise in digital payment systems, digital asset management, blockchain and cryptocurrency, said the 2019 Hays Asia Salary Guide. Hays expected qualified fintech candidates to command higher salaries in 2019. Yang Rong, Banking Analyst with China Securities, said that domestic internet fintech enterprises are riding a boom, due to their huge number of active users and advantages in rich application scenarios, the China Daily reports.
Meanwhile, the first accelerator for corporate property technology, or proptech, was launched in China to provide market players with innovative solutions so that property firms can leverage new technologies to expand their business. The accelerator program, known as UrbanLab, was launched by JLL, Swire Properties and Ping An Urban Tech. UrbanLab is the first corporate accelerator program in China that focuses on property technology. Proptech refers to a wide spectrum of digital and technological trends in the real estate industry such as innovative products, digital business models, smart buildings, and smart cities.
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