Hong Kong accounting professionals at the managerial level are in great demand in China despite increasing competition from their mainland counterparts, according to the Association of Chartered Certified Accountants (ACCA).
Fion Yip Wei-lee, head of Greater China affairs at the ACCA's Hong Kong branch, said working in the mainland was an ongoing trend among Hong Kong accountants.
She said China provided greater opportunities for Hong Kong accountants with international exposure and at least eight years' management experience, preferably in multinational organisations, despite the growing number of qualified mainland professionals.
'These people are in great demand in China as it is a huge market. China lacks people with these qualities . . . but more overseas graduates with working experience in international companies are returning to China,' Ms Yip said yesterday.
But she also stressed that the increasing quality of mainland-trained professionals meant that Hong Kong accountants no longer had as much of a competitive advantage.
Deloitte Touche Tohmatsu tax principle Calvin Lam Wai-ming said a pool of mainland middle managers, trained by the big firms in the past five to six years, was emerging who could compete with Hong Kong-trained accountants.
'To retain the [competitive] advantage, Hong Kong professionals should upgrade themselves to work at senior management levels,' Mr Lam said.
