Many children rely on their parents to purchase property. Unexpectedly, children seeking jobs also need to rely on their 'fathers.' Chinese media reports that some netizens claim a private bank in China has launched an internship program that offers customers' children internship opportunities at well-known companies, including JPMorgan Chase, China International Capital Corporation, Google, Microsoft, etc., with the registration condition being 'non-private bank clients adding 10 million RMB (5.8706 million MYR).'
Hongxing News 'Hongxing Capital' reports that the bank involved is China's Industrial Bank. Private banking centers in some regions of this bank have confirmed the existence of the above-mentioned internship program, with registration ending last week. Due to the program's requirement that 'funds cannot be transferred during the internship,' some netizens question whether this practice might violate relevant regulations.
●Funds cannot be transferred during the internship
According to netizens on social media platforms, the WeChat public account of Industrial Bank Private Banking (hereafter referred to as 'Industrial Bank Private') recently posted an article stating the official launch of the '2025 Elite Internship Program,' tailored to provide practical opportunities for the children of high-net-worth clients, including internships at multiple well-known companies.
The program flyer shows that it offers customers' children internship opportunities in industries such as finance, internet, consulting, fast-moving consumer goods, media, automotive, etc., with reputable companies like JPMorgan Chase, China International Capital Corporation, Google, Microsoft, ByteDance, among others.
●40 spots have closed for applications
However, customers wishing to participate in this internship program need to meet certain conditions. The flyer indicates: non-Industrial Bank private clients must add external funds of more than 10 million RMB, while existing Industrial Bank private clients must add external funds of more than 5 million RMB (2.9353 million MYR). Also, funds cannot be transferred during the internship period.
This information has sparked widespread discussion among netizens. Some netizens commented, 'Is this an explicit price tag on bank deposits exchanged for internship opportunities?' Others stated that this is a common practice in private banking circles.
The article about the internship plan was no longer searchable on the Industrial Bank Private WeChat public account on the 26th. When contacted by a reporter posing as a client, two staff members at the Industrial Bank Private Banking Center confirmed the existence of the internship program, but the registration had already ended. One of the private center staff members stated that it was an event conducted by the head office, focused on providing online and offline internship opportunities at several well-known companies, with an internship certificate to assist clients' children in studying abroad and job searching. The event had 40 spots and required registration to participate.