Young Talent Sees Greater Bay Area as Fertile Hub for Fintech Innovation and Expansive Career Paths, Bloomberg Survey Finds

A new survey of Hong Kong university-aged students reveals the Greater Bay Area has increasing appeal as a dynamic and promising region for emerging young professionals in the financial and technology sectors.

Bloomberg announced the survey results at the 2024 GBA Fintech Talent Summit, themed “Connecting Beyond Borders: Innovation and Talent for the Greater Bay Area”, which convenes more than 350 senior officials and executives from the government, financial regulators, financial institutions, technology companies and university students based in Hong Kong. Mr. Christopher Hui, Secretary for Financial Services and the Treasury Bureau of the HKSAR Government (FSTB) and Mr. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA) delivered keynote speeches at the summit.

The study surveyed more than 200 university students who participated in the Greater Bay Area Fintech Talent Initiative, a collaborative effort between Bloomberg, the Hong Kong United Youth Association (HKUYA) and the Hong Kong Monetary Authority (HKMA) and supported by 22 strategic and corporate partners. Now in its second year, the initiative aims to equip university student participants with an understanding of the skills, concepts and trends necessary for a career in fintech. Simultaneously, the initiative showcases the possibilities that exist for the next generation of fintech professionals within the GBA, leveraging Hong Kong’s pivotal role in global finance.

The survey finds that the GBA is strongly recognized by students in Hong Kong, with more than nine-in-10 respondents (92%) indicating they were very familiar or somewhat familiar with the GBA. Moreover, the GBA’s status as an innovation hub was well understood by respondents, with four-in-five of those surveyed (81%) associating those topics with the GBA.

The GBA’s role as an innovation hub is attractive to young and aspiring fintech professionals, with 79% of students expressing interest in pursuing a career in fintech in Hong Kong and with a connectivity across the GBA. Key attractions include strategic importance, innovation, career growth, access to capital and government support. In contrast, only 18% expressed a preference for focusing solely on Hong Kong.

However, students identified a need for further support in accessing fintech careers based in the GBA. More than three-quarters of respondents (76%) cited access to training programs as support they require to enter the industry.

In terms of fintech skills, students expressed the greatest interest in developing expertise in data analysis and big data (57%), AI and machine learning (54%), financial product development (42%), and digital payments (42%).

Mr. Christopher Hui, Secretary for FSTB, said: “We adopt a multi-pronged approach to work closely with financial regulators and industry players to promote the fintech development.  Nurturing fintech talent is one of our top priorities, together with enhancing financial infrastructure; building a more active fintech ecosystem and strengthening co-operation with the Mainland and overseas.  This highlights the significant emphasis we place on grooming the next generation to sustainably support our fintech development.”  He further cited the GBA Fintech Two-way Internship Scheme for Post-secondary Students launched by FSTB in October last year. So far, about 70 students and more than 30 fintech companies participated in the two rounds of the scheme, in winter 2023 and summer 2024.

“The HKMA recognises the importance of collaborative efforts among the industry players to develop a sustainable local talent pipeline.  Given the tremendous potential of the GBA, Hong Kong should capitalise on the connection with the cities in the area to tap into new opportunities,” said Mr. Eddie Yue, Chief Executive of the HKMA.  “The young generation should as well embrace an entrepreneurial mindset and stay open-minded to contribute to the fintech sector.”

Dr Lam Ho Yi, Evelyn, Chairman of HKUYA, said: “At the heart of the Greater Bay Area Fintech Talent Initiative is empowerment — equipping the next generation of fintech leaders with the skills, networks, and confidence to thrive in a rapidly evolving global finance landscape. With the support of our partners at Bloomberg and the Hong Kong Monetary Authority, we are proud to have provided over 300 students with invaluable training and exposure to industry giants, preparing them to lead the future of financial innovation.”

“At Bloomberg, we are dedicated to making a meaningful impact in the industries we are a part of,” said Mr. Bing Li, Head of Asia-Pacific for Bloomberg. “This initiative unites Hong Kong’s financial community, providing a platform to share expertise with local students, who see the GBA as an attractive innovation hub and a potential place to build their careers. The growth opportunities within the GBA are substantial, and we look forward to fostering career development and professional advancement in the region.”

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About Greater Bay Area Fintech Talent Initiative

Partnered by Bloomberg, the Hong Kong United Youth Association (HKUYA), and the Hong Kong Monetary Authority (HKMA), the initiative aims to provide university students with exposure to cross-border finance programs and critical fintech developments in the region, including the opportunity to connect with leaders and experts from financial and technology companies. This includes professional training, career coaching, and opportunities to network with industry professionals. The initiative forms part of Bloomberg’s global Corporate Philanthropy program, which works with a network of non-profit partners to ensure that more individuals from underserved communities have the relevant skills and experience for employment and entrepreneurship.

For more on the Greater Bay Area Fintech Talent Initiative, visit https://www.bloomberg.com/company/values/philanthropy/greater-bay-area-fintech-talent-initiative/.