There is one networking session in August. The shortlist for phone interviews comes from those who attended the networking session. So you must attend the networking session if you want to get the interview. There will be two phone interviews in the beginning, conducted by junior bankers (1 analyst and 1 associate for my case). Interviews are heavily technical based, so make sure you are familiar with those common techniques such as Accounting, Corporate Finance, and Valuation etc. Also make sure you have a good self-introduction and make ready your answers to questions like "Why HSBC". If you managed to pass phone interviews there will be second round interviews where you will have 2 face-to-face interviews with 2 interviewers for each. And you get your chance to meet senior bankers (D to MD-level). Questions will be a mixture of techniques and behaviors. No very strange questions. Guess the tip is to make sure you don't lose your brain during the interview.