My point was that internships do not really exist in China. If the only requirement to get an internship at Citibank China is to have a balance of X amount, how can you believe that they are doing any real work? From what I understand, internships in China consist of getting a piece of paper saying you did the internship and maybe sitting there for a couple of weeks. Yet, look at resumes of Chinese students at some MFE programs. One of my classmates, who is currently attending a top MFE program, simply made up the internships on his resume.
There simply does not exist an infrastructure in China where students can get meaningful internships while in school; even if you are studying at a top university, opportunities are almost nonexistent. I would posit that internships only exist in China for the advantages they offer to students in graduate admissions. There is no other reason for them to exist because unlike the United States there is no need for some sort of a pipeline for full-time employees, human capital is something that China definitely does not lack. An interesting anecdote: a family friend's daughter got a M.S. at a very good school in China, couldn't find a job and opened a bubble tea cafe.
While I cannot really substantiate my claims, I believe my points are reasonable to consider. I am a second-generation Chinese-American and whenever I go back to China, people love discussing China's problems with my parents...lol