Guides / City guides / Shanghai
Break into investment banking in Shanghai.
China’s largest domestic financial centre, home to the Shanghai Stock Exchange, the STAR Market for technology listings and some of the biggest securities firms. Fluent Mandarin is essential.
The Shanghai recruiting year.
Chinese firms hire graduates mainly through autumn campus recruitment.
- Earlier years
Internships
Students build a run of internships at securities firms, banks and funds.
What to do: Start internships early; they matter a lot.
- September–October
Autumn campus recruitment
Securities firms open graduate hiring for the following year’s class. In 2026, CITIC Securities opened 15 business areas, including investment banking, across Beijing, Shanghai and Shenzhen.
What to do: Apply in the first weeks of the season.
- Autumn–winter
Tests and interviews
Written tests and several interview rounds follow applications.
What to do: Prepare technical answers in Mandarin.
- Spring
Spring recruitment
A smaller spring round fills remaining places.
What to do: Use it if you missed the autumn season.
- Summer
Graduate start
New graduates usually start after finishing their degrees.
What to do: Keep building contacts in your team.
Typical windows only. Dates vary by firm each year.
Ways in.
Autumn campus recruitment
The main route into Chinese securities firms.
Overseas campus events
Firms like CICC hold campus events at overseas universities.
Lateral moves
Including from Hong Kong teams working on mainland deals.
Who hires in Shanghai.
Lujiazui in Pudong is Shanghai’s main financial district.
| Tier | Examples | Why apply |
|---|---|---|
| Shanghai-based firms | Guotai Haitong Securities and other Shanghai securities firms | Large domestic franchises across underwriting, brokerage and advisory. |
| National leaders | CICC, CITIC Securities, Huatai Securities | Big Shanghai teams for listings on the SSE and the STAR Market. |
| Global banks onshore | Goldman Sachs, J.P. Morgan, Morgan Stanley | Some run majority- or wholly-owned securities firms in China. |
Know the STAR Market: Shanghai’s board for science and technology companies, with different listing rules from the main board.
Are you Shanghai-ready?
Tick what you’ve done. Be honest: interviewers will find out.
The Shanghai selection process.
- Online application, during campus recruitment.
- Written test, often with aptitude and finance questions.
- Interviews, several rounds, in Mandarin.
- Final round, with senior bankers.
Visas and work rights.
Foreign nationals need a work permit, and some roles are limited to candidates with Chinese work rights.
Many international candidates start in Hong Kong and work on mainland deals from there.
Test yourself: Shanghai
Questions from the Mandate app. Try each before you open it.
Which body regulates securities markets in mainland China?
The CSRC. The China Securities Regulatory Commission.
Mainland China’s two main stock exchanges are in…
Shanghai and Shenzhen. Beijing also opened a smaller exchange in 2021.
The STAR Market in Shanghai is…
A board for tech and science companies. It was launched in 2019.
Which are leading Chinese investment banks?
CICC and CITIC Securities. Domestic firms dominate onshore underwriting.
Get ready before applications open.
Mandate’s China add-on and core units prepare you for interviews, with daily drills and mock interviews.