Macau’s Labour Affairs Bureau (DSAL) said in a statement today that it has launched, in conjunction with Luso International Banking Ltd., a cross-border finance internship plan for young people from Macau in the Chinese mainland.
Luso International Banking Ltd is a subsidiary of Xiamen International Bank (XIB).
According to the statement, the plan’s launch is in line with the local government’s “1+4”* strategy for the development of an appropriately diversified economy. The plan’s objective is to advance Macau’s high-quality development of the financial sector and to support young residents in broadening their international outlook and professional horizons.
The bureau said the plan aims to cultivate internationally competitive, competent personnel for modern finance in Macau through practical work placements and cross-border exchanges. Online applications for the plan will be accepted from Monday to the end of this month.
The plan aims to nurture competent personnel in modern finance for Macau and supporting young people to broaden their professional horizons, the statement underlined.
According to the statement, the plan offers 10 internship vacancies in Guangzhou, with a duration of four weeks. The internship will cover areas including cross-border finance, wealth management, and investment banking business.
Both Macau and Guangzhou are part of the Greater Bay Area (GBA) development conurbation.
Through on-the-job practice in a real working context and sector-oriented learning, the plan seeks to enable participates to gain an in-depth understanding of the latest trends in the development of cross-border finance, enhance their professional capabilities and practical experience, and thereby broaden their prospects for career development, the bureau said, adding that “this will help cultivate competent personnel to support the transformation and upgrading of Macau’s financial sector and the industries of cross-border cooperation”.
The bureau said that the plan will provide free accommodation for the interns, together with a one-off living allowance of 5,000 patacas, as well as a round-trip transportation allowance, including travel insurance worth 500 patacas.
In addition, the statement said, Luso International Bank will provide interns who successfully completes their internship with a one-off allowance of 3,000 yuan (3,570 patacas), covering living expenses, lunch on working days, and commercial insurance. Other day-to-day personal expenses shall be borne by the interns themselves, the bureau aid.
Applicants must be Macau residents, holding Macau resident identity card (BIR) and a Chinese mainland travel card, and aged not more than 35. They must also be holders of a bachelor’s degree or above, awarded by a higher education institution in or outside Macau, and meet the competency requirements for the internship. Priority will be given to fresh graduates of this year, the bureau said.
More information about the plan is available on the dedicated webpage on the bureau’s website (www.dsal.gov.mo). Vacancies are limited, the bureau noted.
* “1” stands for Macau’s core positioning as a World Centre of Tourism and Leisure.; “4” stands for Macau’s four nascent industries to grow alongside tourism and leisure: a) Big Health (including traditional Chinese medicine/TCM); b) modern financial services; c) high and new technology; d) conventions and exhibitions, sports, commerce, trade. – MPD
