Joint advanced finance program launched in Shanghai
The Shanghai Advanced Institute of Finance (SAIF) and the Wharton School of the University of Pennsylvania in the US jointly launched an advanced finance program in Shanghai on Saturday.
The program targets entrepreneurs, senior executives and high potential professionals in the financial services, as well as lawyers, government officials and policymakers who are interested in finance.
The 47-day training program, with courses delivered by faculty from SAIF and Wharton, is expected to integrate cutting-edge international financial knowledge with China’s real practices, and participants will join in the alumni networks of both institutes.
According to a report released last year by British commercial think tank Z/Yen and the China Development Institute, Shanghai has replaced Tokyo to become the fifth international financial center in the world, but its soft power in finance, such as talent reserve and education, still needs improvement.
Statistics show that Shanghai has more than 360,000 people working in the finance sector, which accounts for 3 percent of the total employees in the city. That is less than the 5 percent in Singapore and Hong Kong, 10 percent in New York and 25 percent in London.
“With growing competition from global financial institutions, increasing complexity of political and economic contexts and the slowing growth of the Chinese economy, decision-makers and core executives of Chinese enterprises need to build up cutting-edge financial knowledge systems and international vision to remain competitive in this challenging environment,” said Yan Hong, vice dean of SAIF.
Geoffrey Garrett, dean of Wharton, said SAIF is its important partner and hoped the new program will bring Wharton to more Chinese executives.
The Shanghai Advanced Institute of Finance and the Wharton School of the University of Pennsylvania in the US jointly launch the advanced finance program.
