Twelve finalists from the regional competition will compete in the final where they will be divided into groups and asked to present the best possible solution to a given case.

The winners from different regions - Hong Kong, Beijing, Shanghai, Guangzhou and Chengdu - will have the opportunity to compete in the China Grand Final in Shanghai in July.

Not only does the competition reward the winners with a trophy and cash prize, the regional finalists will have the opportunity to work at one of the sponsors in their respective regions.

Finalists from the regional competition in Hong Kong will be given internships at Deloitte Touche Tohmatsu, DTZ, Ernst & Young, KPMG China, Hang Seng Bank, Horwath Management Services, Orient Overseas Container Line, PricewaterhouseCoopers, Prudential Assurance and the Venetian Macao-Resort.

Sponsoring the competitions held in Beijing, Shanghai, Guangzhou and Hong Kong last year, PricewaterhouseCoopers, as one of the two national sponsors of the event, saw the firm's objectives to attract top business students being met because a large number of high-quality business students had entered the competition.

Executives from the sponsoring companies will be invited to be judges at the competition and they will narrow down their choice of interns during the course of the event. ACCA acts as a matchmaker and works to ensure that the 12 finalists from the regional competition end up with suitable internships.

'We provide students with a chance to work at a professional company to gain experience and exposure,' said Margaret So, director of recruitment and resourcing, human resources at KPMG China, the other national sponsor. 'These internships help them understand different job natures and how the firm operates, so they can see the various career paths that are available to them.'

Kerry Rooks, human resources director at Prudential Assurance, said: 'We make the effort to be an employer of choice and understand the need to bring in new graduates who have fresh ideas and initiative.'

PricewaterhouseCoopers looks for students with sound academic results and who appreciate the opportunity to learn in the real world of accountancy.

Interns are given a chance to bolster their academic knowledge with practical experience so that they can leverage their skills, gain work experience and get a competitive edge for their future job search.

The performance of the finalists during the competition will determine which internships they are offered.

Ms So said: 'Students should treat this as a good opportunity to get themselves ready for the real world. As this is a valuable internship opportunity, students should do their best to prove to the judges that they have the communication skills, analytical thinking and business acumen needed to succeed.'

Ms Rooks advised candidates, who might already be busy preparing for the competition, to 'be yourselves. We want to see enthusiasm and confidence. Learn as much as you can as this competition can help your future career'.

DTZ recruited two finalists from previous competitions to work in its operations department.

One of them worked with a legal counsel in the legal department and the other worked with Quin SQ Thong, chief operating officer for North Asia, on a number of operational processes including conducting high-profile interviews for senior directors at its mainland offices.

Ms Thong said: 'We hope to improve our interns' thinking skills when working with us. What is lacking these days is thinking skills. They are good learners and smart people, but they should think more creatively, logically and look at different aspects of an issue.'

Interns may be exposed to business beyond Hong Kong. Ms Rooks said: 'Prudential Hong Kong is one of the Prudential Group's biggest and most successful operations in Asia. With our group's Asia regional office located in Hong Kong, our interns will be able to participate in major finance projects and develop their professional, communication, leadership and interpersonal skills while exchanging ideas with people from all offices across Asia.'

Ms So said: 'We aim at helping interns to understand teamwork and how to work at a large company. They need to understand how to work in teams in a commercial environment.'

Students awarded an internship should show an eagerness to learn and improve themselves, and should work hard to display their abilities. Ms Thong said: 'We want interns who are very excited about learning and are open-minded, but we find it difficult to find someone who is willing to work especially on plodding details and routine work.'