Standard Chartered (2888) chief executive Bill Winters said there are still many development opportunities in Hong Kong, as the fundamentals of the city's economy remain strong, with an advantage in finance and trade-related industries.
Hong Kong is facing unprecedented challenges as the hotel and tourism sectors suffer from the Covid-19 pandemic, he said. But he added that he still is optimistic about the city's outlook, as Hong Kong has acted as the bridge between China and overseas markets.
Standard Chartered Bank (Hong Kong) and St James' Settlement are jointly introducing the "Futuremakers' First Job" youth employment and subsidy program to support youth employment and help small and medium enterprises weather this difficult time.
Mary Huen Wai-yi, chief executive of Standard Chartered Bank (Hong Kong), said yesterday that the bank hopes this program can provide a total of 400 young jobseekers with pre-employment training and job opportunities by subsidizing 100 SMEs to offer over 600 job vacancies.
With a sponsorship of HK$5 million from the bank, the program will offer a wage subsidy of up to HK$30,000 over a period of 6 months to each enrolled SME to alleviate employers' financial burden. The program will also provide 3-day pre-employment training to the young job seekers to prepare them for their first job, Standard Chartered said.
Meanwhile, more local virtual banks have introduced promotions to compete with traditional banks.
WeLab Bank is offering three-month Hong Kong dollar time deposit rates of up to 1.2 percent, while Ping An OneConnect Bank is launching a new 90 percent guarantee product to selected trade SMEs.