HSBC and HKFYG release study on Hong Kong youth’s competitiveness in the GBA Professional ethics tops respondents’ self-assessed advantages, with lower score for digital literacy Students are most interested in “cultural and creative”, “financial services”, and “technology and innovation” sectors
HONG KONG SAR – Media OutReach – 19 May 2022 – HSBC and The Hong Kong Federation of Youth Groups (HKFYG) Youth Research Centre today (19 May) published a study on The Competitiveness of Hong Kong’s Young People in the Greater Bay Area. The respondents – 720 local university students who have shown an interest in developing their careers in the mainland cities in the Greater Bay Area (GBA) – are most interested in working in three sectors: cultural and creative (17.9%); financial services (17.6%), and technology and innovation (17.2%) [Table 4, the electronic copy of the Appendix, same hereafter].
The study conducted between March and December 2021, surveyed Hong Kong university students in Year 3 or above. The results reveal that students are most attracted by the career prospects (84.1%), market size (84.0%), social networks (70.7%) and training opportunities (70.4%) in the GBA [Table 2], and that they are most keen to work in Shenzhen (52.5%), followed by Guangzhou (19.4%) [Table 5].
The study attempts to establish a framework for the five key skills to boost employability in the GBA. Respondents were asked to assess their own competitive advantages against this skills framework. The findings reveal that university students perceive themselves to be competitive in the GBA. On average, students display the greatest confidence in theirprofessional ethics (8.38 out of 10), Putonghua skills (8.04), and flexibility and adaptability to change (7.78), while ranking digital literacy the lowest (6.17) [Table 7].
Among respondents, 79.7% agree that “the outlook for a business startup in the GBA is positive”, with 90.1% acknowledging that scholarship and seed funding are helpful to their career development in other GBA cities [Table 10]. However, challenges remain, with 70.9% of respondents believing that young people in Hong Kong are unaware of the opportunities springing up in the GBA [Table 3]. Participants cite their key challenges as being a lack of networks in mainland China; competition from Mainland talent; and an inadequate understanding of the Mainland judicial system [Table 8].
When asked how young people could best embrace the opportunities in the GBA, 63.9% of respondents are willing to join GBA-based work experience programmes or internships. Respondents also highlight a desire to understand industry outlooks (51.4%) and participate in activities, workshops or knowledge exchange programmes about the GBA (41.3%) [Table 9].
A group of 16 GBA experts, scholars and employers were interviewed for this study. Collectively, they believe that the comparatively strong English language skills of young people in Hong Kong, coupled with their global vision, could improve the service quality of Mainland enterprises and help these enterprises open doors to international markets. However, competition for jobs is intense in the GBA and Hong Kong is not the only source of talent for employers. To increase their employment prospects, Hong Kong youth will have to improve their professional skills, and develop a good understanding of the GBA’s planning, policies and industry prospects. The expert group suggest that young people interested in working in other GBA cities should target the industries and cities that best suit them. They should also treat the experience of working in the Mainland as a step in their career development, using the GBA experience to enrich their resumes and advance their career pathways.
The study also interviewed 26 young Hong Kong people studying, working or starting up businesses in the Mainland cities of the GBA. They agree that immersing themselves in the culture and lifestyle of other GBA cities has deepened their understanding of the region and kept them abreast of its development. While the pandemic has inevitably extended their stays in the GBA, some interviewees working in the GBA report a deepened understanding of life in the area.
Daniel Chan, Head of Greater Bay Area, HSBC, said, “Since the GBA development framework was announced in 2017, economic policies and infrastructure projects implemented have brought much closer the cooperation among Guangdong, Hong Kong and Macao. At present, there are more than 85,100 residents from Hong Kong and Macao that have registered for employment in Guangdong. If Hong Kong is to reap the full benefit, it is vital that our next generation gains first-hand understanding of the whole GBA economy’s breadth and depth. As a large private sector employer in the GBA, we are glad to see that Hong Kong university students are open-minded about career opportunities in the region. GBA is a focus of HSBC’s growth strategy in Asia. We are committed to building a sustainable talent pipeline and supporting the future development of the GBA.”
In response to the study, Angela Ngai Mei-mui, Deputy Executive Director of the HKFYG, suggested companies to open up more opportunities for internships and consider job rotations between the GBA cities to increase their competitiveness. This would not only strengthen the practical skills of young people within a profession, but also facilitate talent mobility. She also recommended building online learning platforms to cover the five core skillsets and personality traits essential for employment in the GBA. In the long run, these courses should be mutually recognised by Hong Kong and the Mainland to ensure quality control and encourage participation. Furthermore, the study also suggested the need to integrate the concept of career pathways in the GBA into life-planning education for young people in Hong Kong. Through company and factory visits, alongside job shadowing, NGOs can support young people to learn about emerging opportunities in the GBA at an earlier age.
About The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and the Middle East and North Africa. With assets of USD3,022 billion at 31 March 2022, HSBC is one of the largest banking and financial services organisations in the world.
About The Hong Kong Federation of Youth Groups
The Hong Kong Federation of Youth Groups (HKFYG) was founded in 1960 and is now the city’s largest youth service organisation. For the past six decades, it has been committed to serving the youth of Hong Kong by providing a variety of services, activities and programmes, which have an annual attendance of nearly six million. We encourage youth to reach their fullest potential, and with community support, we now have over 80 service units. We also have 12 core services, which include the Youth S.P.O.Ts, M21 Multimedia Services, Employment Services, Youth at Risk Services, Counselling Services, Parenting Services, Leadership Training, Volunteer Services, Education Services, Creativity Education and Youth Exchange, Leisure, Cultural and Sports Services, and Research and Publications. Our aim is to motivate young people to grow into responsible and dutiful citizens and we now have over 250,000 registered volunteers and over 450,000 registered members. We believe that our motto HKFYG * Here for You reaffirms our commitment and dedication to the young people of Hong Kong. For more details, please visit hkfyg.org.hk
#GBA #HSBC #HKFYG
The issuer is solely responsible for the content of this announcement.
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
In this episode of 'A Working Lunch with Nordin', MGBF's Nordin Abdullah and regional commentator Eddin Khoo will discuss the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will feature thought leaders form Japan, Australia, Singapore and Malaysia dealing with the critical issues of manipulation of public listed companies and government and their financial impacts.
A series of networking sessions with various business associations and trade organisations exploring high-value opportunities for business leaders and entrepreneurs looking to build the relationships that matter.
This integrated event will include a forum, dedicated business matching, site visits, a gala dinner and a round of golf. Aptly themed, the focus will be on regional food security issues and trends in the context of the supply chain, agriculture technology and trade regulations and policies.
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]