Professor David Greenaway, Vice-Chancellor of The University of Nottingham, who was in China this week as part of the Prime Minister’s trade mission to the country, has announced three projects worth over £60m, which the University is launching in China.
A unique institute to train financial specialists in Guangdong
The first development, which was revealed at a signing ceremony in Beijing, is the creation of the new Guangdong-Nottingham Advanced Finance Institute (GNAFI).
GNAFI is being developed in conjunction with the Guangdong University of Finance, to create a new Institute which will train up to 2000 Chinese financial specialists each year. It will provide advanced training to senior managers from industry, commerce, financial institutes and government organisations.
The Institute will be located in a new, state of the art building, funded by the Guangdong regional government. It is anticipated that income from the GNAFI will be in the region of £10m per annum once it is established.
A new £25m academy for Marine Technology
The second initiative is the creation of a new £25m International Academy for Marine Economy and Technology at the University of Nottingham Ningbo China (UNNC). The Academy will foster new collaborations with industry, support China’s marine economy and contribute to the development of Ningbo’s port, which is one of the largest and most significant in the world.
It is anticipated that over 100 business partners will be engaged in the Academy, which will receive £13m from the Ningbo Municipal Government. UNNC and their partners in Ningbo, the Wanli Education Group (WEG) will contribute £12m.
Major campus expansion at University of Nottingham Ningbo China The third University of Nottingham announcement involves the Phase 3 development of University of Nottingham Ningbo China (UNNC). The further development of the purpose built 130 acre campus will include a teaching and learning complex, new student residential accommodation and an international conference centre. UNNC, which was the first Sino-foreign university in China, is investing RMB 270 million (around £27 million) in the construction programme, which will begin in January 2014.
Professor Greenaway said: “This is a very exciting time for The University of Nottingham in China. Next year marks the tenth anniversary of the opening of our campus in Ningbo. Over the years we have built strong, mutually-beneficial relationships with government, businesses and many other organisations, and we are adding real value to the continued development of Ningbo. We are looking forward to working with our partners on these new initiatives which further reinforce the University’s long-term commitment to China.”
Speaking about the mission to China, Prime Minister, David Cameron, commented: "I am delighted that The University of Nottingham was able to join me in the largest British business delegation to go to China this century. This Government's priority is to secure the economic recovery and we are determined to all we can to help British companies to succeed in the global race. My aim is to open the door for them in this fast-growing market, creating opportunities for them to expand."
The education partner of choice for China
David Willetts, the Universities Minister, who was also on the China mission, added: “In China, and around the globe, the market for education is growing rapidly. We are determined that our world-class universities should build on the UK’s position as the education partner of choice for China. These new partnerships are good for education and good for growth. They will ensure China and the UK have well-educated and trained young people, equipped to meet the opportunities and challenges of a globalised world.”
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Notes to editors: The University of Nottingham has 42,000 students and is ‘the nearest Britain has to a truly global university, with campuses in China and Malaysia modelled on a headquarters that is among the most attractive in Britain’ (Times Good University Guide 2014). It is also one of the most popular universities among graduate employers, one of the world’s greenest universities, and winner of the Times Higher Education Award for ‘Outstanding Contribution to Sustainable Development’. It is ranked in the World’s Top 75 universities by the QS World University Rankings.
More than 90 per cent of research at The University of Nottingham is of international quality, according to the most recent Research Assessment Exercise. The University aims to be recognised around the world for its signature contributions, especially in global food security, energy & sustainability, and health. The University won a Queen’s Anniversary Prize for Higher and Further Education for its research into global food security.