INTERNSHIPS
Reports
Internship at Bank of China
2017-09-23
林灝賢
LAM Ho Yin
中國銀行
Bank of China
北京及新加坡
Beijing and Singapore
I can still remember how excited I was on the day when I received the offer of internship from the Bank of China, because I knew from the beginning that it will definitely be an unforgettable experience throughout my university life.
Before departing Hong Kong, all 21 participants had to join a 3-day course at the Bank of China Center, which included an introduction to the history of the Bank of China and Bank of China (Hong Kong), knowledge of FinTech, and, of course, the development of the Belt and Road Initiative. Moreover, it also served as a platform for us to get familiarized with each other, so that we could support each other in the upcoming internships.
After the end of the course in Hong Kong, we flew to Beijing and attended lessons at the training center of Bank of China. Lessons in Beijing were useful and insightful, both in the micro and macro perspective. Among all the topics, I found FinTech and the development of the Belt and Road Initiative very appealing and interesting. Firstly, I truly believed that FinTech will become an integral part of the banking industry in the future and its importance will escalate rapidly. Hence, it is useful to learn different new technologies that the bank is applying or planning to develop. For example, Bank of China has developed a set of vein detecting machines which will enhance the security of the bank's operation.
Upon arrival in Singapore, I was assigned to the corporate banking department. At first, I was very worried about the toughness of the job. After all, it was my first internship. Luckily, my colleagues were very nice and they were very willing to teach me personally about the basic operations of banking industry, such as the details of corporate loans. This consequently improved my knowledge on how the Belt and Road Initiative help the financing of companies. After a few days, I was assigned to more detailed work which involved risk and compliance and gained hands-on experiences. Furthermore, I also understood the importance of following regulations and completing the “know your customers” process, which could protect the bank from bad debts and heavy government penalties, as well as secure the faith of the general public towards the banking and finance industry.
Furthermore, we have also grabbed the chance to explore local cultures. During weekends, we visited different places in Singapore such as Universal Studio and Gardens By the Bay, and also tried various local food. This internship was truly remarkable.
