[The Epoch Times, March 26, 2024] (Reported by the Epoch Times reporter Huang Yunyun in Hong Kong) Bloomberg reported that the Hong Kong bankers who had been in Fengyun five years ago, now the first public offer (IPO) transactions in Hong Kong have been greatly reduced, caught in unemployment and fierceness.The predicament of competition has become a lost generation.
The report states that the situation of geopolitical tensions between China and the United States has caused crushing the capital market.The trend of Hong Kong stocks plummeted, the economic prospects were dim, and the IPO of Hong Kong was exhausted.Coupled with the CCP’s strengthening of information security and financial market supervision, it is more difficult for mainland enterprises to acquire assets or go public overseas.
Bloomberg said that in the past 18 months, large international financial companies such as Goldman Sachs, JP Morgan Chase, Citi, etc. have made many layoffs in Asia and have been particularly harmful to Hong Kong.Since the end of 2021, the number of people holding the Hong Kong Securities Regulatory Commission has a decrease of more than 600 financial professionals in Hong Kong.As of December 2021, there were only 44,722 people.
The Hang Seng Index has fallen for the fourth consecutive year, resulting in a decrease of 56%of the amount of IPO fundraising in Hong Kong in 2023 to HK $ 46 billion.Data show that the number of listed companies in Hong Kong has decreased by nearly 5 points or 67, with only 13 financing of more than 1 billion Hong Kong dollars.
Preqin LTD data shows that private equity equity and risk capital investors are also hit. Compared with 2021, the funds raised by the US dollar funds in the 2023 In 2023 have dropped sharply by 81%.
The financial industry is the pillar of Hong Kong. According to the data of the Hong Kong Trade Development Agency, in 2022, the financial service industry accounted for about 22.4%of Hong Kong GDP, and the number of financial services industry accounted for about 7.5%of the total employment population.
According to reports, many people with professional knowledge in Hong Kong are facing difficulties in the financial industry in Hong Kong. Some are unemployed because the company has withdrawn from Hong Kong. It has been struggling to work for 17 months.Financial pressure.
Another unemployed international investment bank analyst also felt that job search competition was much more intense than before. She had conducted 10 interviews at different consultants, venture capital and private equity companies, all of which ended in failure.
HEADHUNTER in Hong Kong pointed out that the number of middle and high -end financial employees currently looking for jobs in Hong Kong is hundreds of people.The recruitment consultant in Hong Kong believes that Hong Kong is a very fragile market today, and it is estimated that there will be more layoffs in the future.
Henry, a banker of a Chinese securities firm, said that he saw that his former colleague had been unemployed for more than a year, and would accept it even if he was reduced by 30%to 40%.
The recruitment company’s senior management reminds that in some cases, the salary may be very serious, and Hong Kong bankers must be prepared at least 20%of the cut salary.Bleak