The Need for Mandarin in Hong Kong Financial Services

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

It's clear that "Mandarin preferred" is a common phrase on financial services job ads, and it’s becoming a standard requirement for professionals in the field. For instance, investment bankers often focus on helping expansionist mainland companies make overseas acquisitions, and mainland investments are crucial to the success of Hong Kong-based private equity firms. It’s becoming increasingly unlikely that you’ll land a client-facing finance job in Hong Kong without knowing the language. But what’s the current talent pool situation in Hong Kong?

Majority of financial services talent speaks Mandarin

According to eFinancial Careers database, Hong Kong has a strong pool of Mandarin-speaking talent. More than half of the sectors (10 sectors) have over 30% native Mandarin-speaking candidates. Nearly all sectors (18 sectors) have over 50% of candidates who are either native or fluent in Mandarin. Interestingly, this includes operations jobs, which typically require less client interaction.

If you have a strong command of Mandarin, you’re in an excellent position to capitalize on emerging opportunities in the market. Mandarin proficiency is increasingly becoming a critical skill, especially 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 essential for success in the region.

However, if your Mandarin skills are lacking, it’s important to recognize that this could limit your career growth and opportunities. As the financial services landscape in Hong Kong evolves and the Greater Bay Area opens 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 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 growing 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.

The People's Bank of China and the monetary authorities of Hong Kong and Macau have announced to jointly implement the Wealth Connect program. 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.