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Subject: HK Accountants in China Author: IC [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 08:12:46 07/29/02 Mon Hong Kong Accountants Who Travel To Work In China Find Security And Satisfaction In their Jobs And Are Happy With The Pay 19 Jul 2002 A survey of members undertaken this month by ACCA Hong Kong reveals that most of those who travel to work in Mainland China regularly are financial controllers and finance managers; they are between 25 and 40 years old. Over 60% of respondents indicated that they are well satisfied with their status and job security and the way in which their qualification is recognized there. Some 50% of the respondents earn annual salaries of between HK$250,000 and HK$500,000. Over 15% of respondents earn annual salaries between HK$500,000 and HK$750,000. Around 17% earn annual salaries between HK$750,000 and HK$1 million. Over 25% of the respondents travel weekly to China for work purposes. About 70% travel to China at least once a month. Over 60% usually spend up to three days there. Shenzhen is the most frequently visited city, Guangzhou and Shanghai come next. Differences in accounting standards; tax, customs and other government regulations; and different management styles and working attitudes are the main challenges with which they have to deal in China. "At a time when there is still a high unemployment rate in Hong Kong and a gloomy economic climate, there are excellent openings on the Mainland and having a China-related job means ample opportunities for long-term career advancement," says Fion Yip, Head of Greater China Affairs. About 40% of the respondents considered that China will overtake Hong Kong in the area of financial accounting over the next five years. On the other hand, some 65% of respondents are confident that Hong Kong will continue to have a competitive edge over China in the areas of corporate finance and financial and management consultancy. "Hong Kong's system of corporate governance and its status as a renowned financial centre should attract many Mainland enterprises to raise funds and to list in Hong Kong. For this reason, we believe that Hong Kong will continue to perform well in business and consultancy services." suggests Fion Yip. [ Next Thread | Previous Thread | Next Message | Previous Message ]