The Need for Mandarin in Hong Kong Financial Services

Banks in Hong Kong are still fairly dependent on mainland talent because the typical requirement for native Mandarin-speaking professionals hasn’t changed. IBD functions need Chinese talent, especially given the recent competition between the Shanghai and Hong Kong exchanges over the increasing number of future IPOs and secondary listings from Chinese companies.

No doubt, often we see "Mandarin is preferred" on financial service job ads. This becomes a standard requirement for financial services professionals. For example, investment bankers focus on helping expansionist mainland companies make overseas acquisitions; mainland investments to the success of Hong Kong-based PE firms. It looks increasingly unlikely you will get a client-facing finance job in Hong Kong unless you know the language. However, what is the talent pool status now in Hong Kong?

Majority of financial services talent speaks Mandarin

According to eFinancial careers database, Hong Kong does have a good pool of Mandarin-speaking talent. More than half of the sectors (10 sectors) have over 30% native Mandarin-speaking candidates. Almost all sectors (18 sectors) have over 50% native and fluent combined Mandarin-speaking candidates. It is interesting that this includes operations jobs, which demand comparatively little client interaction.

If you have a strong command of Mandarin, you are in an excellent position to capitalise on the emerging opportunities in the market. Mandarin proficiency is increasingly becoming a critical skill, particularly as business interactions between Hong Kong and Mainland China continue to grow. This language ability not only enhances your communication with clients and colleagues but also gives you a competitive edge in understanding the cultural nuances and business practices that are integral to success in the region. 

However, if your Mandarin skills are not up to par, it's important to recognise that this could limit your career growth and opportunities. With the financial services landscape in Hong Kong evolving and the Greater Bay Area opening up new avenues, the ability to communicate effectively in Mandarin is no longer just an advantage—it’s becoming a necessity. 

Now is the perfect time to invest in upskilling yourself. Whether it’s through formal language courses, self-study, or immersive experiences, improving your Mandarin will not only broaden your professional horizons but also prepare you for the increasing demand for bilingual professionals in the financial services sector. By taking proactive steps to enhance your Mandarin skills, you can ensure that you remain competitive and well-prepared for the opportunities that lie ahead.

Opportunities for the Hong Kong financial services market

The People's Bank of China and the monetary authorities of Hong Kong and Macau have announced to jointly implement the Wealth Connect programme. This will let Hong Kong private bankers serve clients across southern China’s Greater Bay Area. Although there are some concerns that Hong Kong might potentially be losing Chinese bankers due to Beijing's proposed global income tax, there is no Chinese banker exodus happening - yet.

Browse our open financial services roles in Hong Kong.