China hiring jobless Wall St. experts

Beijing -- Some of the Wall Street professionals let go in the U.S. financial crisis may soon be working for Chinese financial houses.

The China Daily reports the widespread Wall Street layoffs have created opportunities for Chinese firms to hire these professionals to take advantage of their expertise in global capital markets.

The newspaper said some major Chinese investment banks and stock brokerages have begun hiring such professionals both in the United States and Europe, especially those with knowledge of international markets and research experience.

"The troubled U.S. financial system has tended to push talents into the more optimistic emerging markets," a member of a Chinese investment bank told the China Daily. She was quoted as saying her bank would step up efforts to recruit international talent.

The report also said some human resource agencies expect the fallout from the U.S. financial crisis would encourage the more recent Chinese graduates to return and work in China.

Copyright 2008 by United Press International.