Recruiting in China

1.0. Introduction

Nowadays, the banking industry in North American is facing wicked competition and slow growth due to deceleration of people growth. China, in contrast, has a younger and faster growing people; hence, more and more overseas banks be attempting to invest in the Chinese banking industry. However, due to the high barrier of entry enforce by the Chinese government, at the oddity of 2003, only $500USD millions of extraneous equity had been infused in Chinas banking industry. This represents only 0.3% of the total market. Nevertheless, by the prohibit of 2006, China will open up its banking industry for foreign investors (Foreign). China will reduce the time marches for foreign establishments to open a new branch, lower the infallible capital investment, and authorized foreign banks to operate Chinese currency. It is a good opportunity for foreign banks to pour their investments into China ( regulating).

In order to capture this opportunity, foreigners must plan ahead onwards opening a subsidiary in China. Having a clientele in foreign country will have an collision on the HR operation. This research project focuses on twain HR elements: recruitment and selection tools. The report begins with an overview of foreign banking institutions in China, and briefly discusses where banking institutions are concentrated. Furthermore, this paper also discusses what the employment restrictions are for foreign banking institutions.



Most importantly, report touches on how Chinese banking institution select and recruit their applicants, and what selection tools they use, and finally, what are the implications for the HR incision of a foreign bank.

2.0. Overview of Foreign financial institutions in China

At the end of 2001, there were 162 foreign financial institutions in China, among which 6 of those were solo foreign-owned institutions. 1 of the 162 was a foreign-invested bank, 7 were joint venture banks, 131 were...

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