ByteDance Denies Internship Offer Linked to ¥10 Million Bank Deposit Claim

In a statement released today, ByteDance, the parent company of TikTok, has categorically denied rumors circulating online that offered internships are linked to large deposits at certain banks. The company’s official hiring channels confirmed that the reports, which suggested that significant financial investments could guarantee internships, are inaccurate.

ByteDance clarified that all internship positions are filled based on the company’s established recruitment needs and criteria, ensuring that the selection process remains objective.

The rumors stemmed from reports of an internship program purportedly offered by Industrial Bank’s private banking arm. Allegedly, the program, which targeted the children of high-net-worth clients, promised access to internships at prestigious companies. Requirements allegedly included new deposits of RMB 10 million for non-private banking clients, or RMB 5 million for existing private banking clients.

The reports also mentioned Industrial Bank’s private banking arm launched a “2025 Elite Internship Program” targeting children of high-net-worth clients offering opportunities at companies such as J.P. Morgan Chase, CICC, and others.

The specific article previously detailing the internship program has since been removed from the bank’s official WeChat account.

The official ByteDance internship program for 2025, which commenced in February, is designed for 2026 graduates planning a graduation date between September 2025 and August 2026. The program offers over 4,000 opportunities across various roles, including research and development, product management, operations, and game design.

The company emphasized that all internships come with potential full-time employment opportunities, with the possibility of conversion starting in July for those who meet the performance criteria. This allows successful interns the chance to secure full-time offers ahead of the traditional graduate recruitment cycle.