Chinese Bank recruits only Harvard and MIT students as interns

February 15, 2011Jing Gao2 Comments, , , , , , , ,

China Development Bank has begun talent hunt for its summer internship program. But according to its official website, the program only targets current students at Massachusetts  Institute of Technology and Harvard University in the United States.

The internship post also says academic majors of prospective interns include finance, financial engineering, management, accounting, economics, statistics, linguistics, law, energy, naval architecture, environmental science, computer science, engineering and so forth.

It was first noticed by a Twitter user zhangjialong, and then retweeted by Zhao Jing, a Chinese media commentator who goes by the pen name Michael Anti. Anti wrote in his retweet, “Is the internship tailored to princelings?”

Princeling refers to a child with the most impressive Chinese Communist Party pedigree. Because of resources and privileges available to children brought by their families’ political clout, they, most of whom were educated at world’s top universities, including Harvard University, often have exclusive access to plum jobs and powerful political positions.

The daughter of Xi Jinping, the heir apparent to Chinese presidency, is now a student at Harvard University; the son of former foreign minister Li Zhaoxing graduated from Harvard Business School, to name but a few.

This also shows how much U.S. education is revered in China, as is explained in another MiniTofu story: In China, U.S. education becomes a selling point, and an incentive to lie

China Development Bank is a financial institution under the direct jurisdiction of the Chinese State Council. As a bank owned by the government, it is the China’s biggest foreign investment and financing bank.

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2 comments to “Chinese Bank recruits only Harvard and MIT students as interns”

  1. Cleo | February 16, 2011 | Permalink Reply

    Wow, that's harsh. Imagine all the Yale and Wharton interested students who will flinch at this news. I wonder if the applicants are mostly going to be Chinese because (1) I don't think that a Harvard degree is a total solution to the cultural gap of a Chinese foreign student in an American office and (2) Chinese students are likely to be more interested in working at this financial institution than other Harvard and MIT students otherwise a normal student is going to want to do a summer internship at one of the prestigious American companies that will lead to post grad employment.

  2. Frankie Fook-lun Leung | August 12, 2012 | Permalink Reply

    This is absurd. First, a lot of Chinese just go to Harvard to attend a non-degree course and claim to have been there. Second, others fake their qualifications. Thirdly, any one who has been to a big-name school can testify that all that glitters is not gold. Fourthly, what’s the point of hiring somebody who may be so pricy and not prepared or motivated to contribute. Fifthly, the big name attracts so many applicants who may not justify the struggle. lastly, I don’t see how one or ten Harvard graduates can turn around the company if not the country. I went to a big name school too but I have been a disappointment to all my former employers.

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