IBD in Hong Kong or Chinese PE firm in Beijing as a graduate?

I'm a final year student and currently looking for FT analyst IBD positions in HK. In the long run I want to go into the buy-side and would like to go back to China, but like many, I'd like to start my career in HK on the sell-side.

However, I started contemplating in the middle of this recruiting reason as I've received an offer from a Chinese insurance company-backed PE firm (alternative investment, mainly FOF, +direct investment occasionally) based in Beijing. I find this option attractive as it go straight to my career 'destination'. At the same time, I understand I won't being getting the training I would have got at IBD in HK (let along the pay, but I guess that's secondary from junior). Assuming Chinese banks in HK in the worst case, as the level of training isn't that great neither, but still the sell-side exposure in HK will be good for PE?

Appreciate it if anyone could shed some lights on this :)

My background: Born in Beijing and came from a non-finance postgraduate degree from a US IB target-school, but I have ample amount of IB/PE internships in HK and China.