New financial research and exchange center opens
- Source: Global Times
- [08:57 April 26 2011]
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A new financial research and exchange center in the city opened Monday, with the aim of training senior government officials, management employees from multinational companies and financial professionals with help from the world's top business schools.
The Pudong Institute of Finance will work with faculties from schools as renowned as Harvard University, Columbia University and the University of Pennsylvania - all Ivy League schools from the US, according to a statement released by Pudong New Area's Financial Services Office Monday.
It said that while Shanghai has accumulated more than 160,000 professionals in the financial sector in recent years, the city is still short of high-end financial experts, a problem it hopes the institute can help solve in the coming years.
The institute's first course, offered in partnership with the University of Pennsylvania's Wharton School (of business), has already attracted 57 applications, for which 32 percent come from private equity companies, 26 percent from fund management companies, 16 percent from local government, 9 percent from State-owned banks and 5 percent from securities and insurance companies, the statement said.
The remaining 12 percent hail from the Shanghai Stock Exchange, Shanghai Future Exchange, People's Bank of China, China Securities Regulatory Commission, China Insurance Regulatory Commission and the China Banking Regulatory Commission.
Global Times