New financial talent training base unveiled in Shanghai

Li Xinran
A "financial talent training base" was unveiled at the 4th China Financial Talent Pudong Leadership Dialogue on Friday. The base aims to foster talent in the financial industry.
Li Xinran

A "financial talent training base" was unveiled at the 4th China Financial Talent Pudong Leadership Dialogue on Friday. The new base aims to build a platform for college students to practice and be trained in Pudong's financial institutions, and attract top-notch financial professionals throughout the world, to further cultivate domestic and foreign financial workers in the new area.

At present, the total number of financial practitioners in Pudong has exceeded 300,000, accounting for two-thirds of Shanghai's total, according to the Pudong Financial Services Bureau.

Professional financial talent in Pudong has reached a new level. For instance, Pudong has nearly 2,000 CFA holders, accounting for one fifth of the national total.

Peng Qionglin, director of the Organization Department of Communist Party of China Pudong Committee, said in his speech that in the process of building a high-level talent agglomeration in Shanghai, Pudong is actively building a "pioneer area for international talent development."

"As the core area of the Shanghai International Financial Center, Pudong, looking forward to high-quality development of the financial industry in the future, and benchmarking the international top financial center, is more eager than ever for modern financial professionals."

"Pudong will focus on the characteristics of the financial industry and the reality of the construction of the financial center, continue to improve the financial talent development system, actively improve the financial talent service policy, and make every effort to optimize the development environment for financial talent, and strive to build itself into a gathering place of world-class financial professionals, a place of growth and development, and a place of career achievement, so as to provide strong human resources support for the construction of the core area of the international financial center," Peng said.

New financial talent training base unveiled in Shanghai

Zhang Hong, director of the Pudong Financial Services Bureau, said that Pudong would further improve the layout of the financial talent development plan. They plan on strengthening the construction of financial talent high ground in the new area, accelerating the formation of a high-quality financial talent team with a large total, with reasonable structure, comprehensive types, excellent quality, international vision, global competitiveness and influence, and strive to build a global financial talent cluster, providing a strong financial talent support for the construction of the pioneer area of socialist modernization.

Pudong will further strengthen the development of financial professionals, mainly focusing on the introduction, training and service of key figures, and implement nine measures for the development of financial talent, according to Zhang.

The measures include establishing an international financial professional qualification certificate recognition list system, supporting financial institutions to organize international, cutting-edge and professional financial conferences, supporting financial factor markets (infrastructure) and financial institutions to set up post-doctoral workstations, setting up "financial talent training bases," building a career development system for financial professionals in the full life cycle.

Yao Lingzhen, vice president of Shanghai University of Finance and Economics, said that in recent years, Shanghai University of Finance and Economics has been exploring how to cultivate financial professionals with global vision and competence through integration of industry and education, domestic and international cooperation, etc.

David Zhang, China country head at the CFA Institute, said that in the future, the CFA Institute will continue to work with Pudong, continue to deepen the cooperation on the cultivation of international financial professionals, strengthen the exchange of advanced experience at home and abroad, and contribute to the construction of Pudong as a "pionner area for international talent development."

Zhang told Shanghai Daily, "Apart from passing all the tests of three-tiers, students are still required to practice 4,000 hours to get the CFA certificate and the base will be a very good opportunity for them to achieve the goal."

Lin Zhinong, head of the core banking business of CCB Financial Technology Co, Ltd, said that the financial talent training base will promptly address the urgent needs of CCB Financial Technology for talent.

"We will provide a new stage for the majority of outstanding students to show themselves, learn and practice. Here, students will practice together with senior analysts or managers in industry.

"They will not only learn traditional banking business, but also contact with cutting-edge technology, and become comprehensive talent under the current wave of financial technology," Lin said.

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