Hong Kong is continuing to produce new finance jobs, despite cuts in banking operations elsewhere in the world.

This is the claim made in a new article in the Financial Times, which points to plans by HSBC to significantly cut back its global workforce, noting that the company is still expected to recruit between 3,000 and 5,000 individuals in Asia per year.

According to the news source, Hong Kong was responsible for nearly 60 per cent of total pre-tax profits for the bank during the first half of 2011, with the remainder accounted for by other Asian nations.

Chief executive Stuart Gulliver said in May this year: "The most important region for HSBC without any doubt: Asia. This is the heritage of the firm. This is the history of the firm."

Fast-growing regions are continuing to register finance jobs growth, including nations such as India, China and Singapore.

In related news, HSBC has announced plans to cut a total of 30,000 jobs by 2013 in order to reduce its costs.

Posted by Kate Griffin