The newly established Shanghai Advanced Institute of Finance, sponsored by the city government, has started to enroll MBA students for next year, school officials announced yesterday.
Tuition costs 128,000 yuan ($18,726) and scholarships will be available to lure applicants to the new program.
The Institute was established at Shanghai Jiao Tong University (shown here), with a six-year grant of RMB320 million($46.8 million) from the city government.
The institute was created to meet the needs of the rapidly growing financial industry in Shanghai, as the central government plans to turn the city into a major world financial center.
Fang Xinghai, director of the Shanghai government’s financial services office, said, ‘The city lacks lots of professionals in the development of an international financial center.
‘Shanghai must speed up the nurturing of financial professionals as well as attracting more Chinese and overseas experts to the city.’
English EastDay.com reports that the general view was that though several local business schools have nurtured lots of talented people, the number of financial professionals in the city is far from the average level of other international financial hubs such as New York and London.