Core Viewpoint - The article discusses the launch of a high-end internship program by Industrial Bank aimed at high-net-worth clients' children, which has sparked controversy regarding its compliance and the implications of linking deposits to internship opportunities [1][2][4]. Summary by Sections Program Overview - The "Elite Internship Program" is designed for children of high-net-worth clients, offering internship opportunities at well-known companies such as Google, Microsoft, and ByteDance, among others [5][6]. - To qualify, non-private banking clients must deposit an additional 10 million yuan, while existing clients need to add 5 million yuan, with funds locked until the internship concludes [5]. Industry Context - This initiative reflects a broader trend in the banking industry where private banks provide educational and internship services to high-net-worth clients, driven by increasing competition and deposit acquisition pressures [2][8][11]. - Other banks, like Citic Bank, also offer similar services, indicating that such practices are common in the industry [8]. Compliance and Controversy - The requirement that funds cannot be transferred during the internship period has raised questions about its legality under Chinese banking regulations, which emphasize voluntary deposits and withdrawal freedom [3][12]. - Legal experts suggest that this model could potentially violate regulations against using improper means to attract deposits, although some argue it is a normal business practice [12][14]. Market Dynamics - The competitive landscape among banks is intensifying, with private banking services becoming a key focus for attracting high-net-worth clients [11]. - As of the end of 2024, major banks like ICBC and ABC reported significant growth in their private banking assets under management, highlighting the importance of this segment in overall banking performance [11].

Core Viewpoint - The introduction of the "Elite Internship Program" by Industrial Bank for high-net-worth clients' children has sparked significant industry attention, highlighting the relationship between deposit scale and bank performance amid increasing competition [1][2][3] Group 1: Program Details - The "Elite Internship Program" requires new deposits of 10 million yuan for new clients and 5 million yuan for existing clients, with funds locked until the internship concludes [3] - The program offers internship opportunities at renowned companies such as Google, Microsoft, and ByteDance across various industries [3][4] - This initiative is part of a broader trend where banks provide educational and internship services to high-net-worth clients' children, reflecting a competitive strategy to attract deposits [5][6] Group 2: Industry Context - The competitive landscape among banks has intensified, leading to innovative strategies for attracting deposits, including offering value-added services like internships [5][8] - Other banks, such as CITIC Bank, are also implementing similar programs, indicating that this trend is not isolated to Industrial Bank [5][6] - The private banking sector is viewed as a crucial area for deposit acquisition, with significant growth in assets under management reported by major banks [8] Group 3: Compliance and Legal Considerations - The requirement that funds cannot be transferred during the internship period has raised questions about compliance with banking regulations [9] - Legal experts suggest that the model of linking internships to deposit amounts may violate certain banking laws, although some argue it is a normal business practice [9][10]