The first programme of the new Guangdong-Nottingham Advanced Finance Institute took place last week in the city of Foshan, Guangdong province, China.
A collaboration between The University of Nottingham and Guangdong University of Finance, the Institute will provide advanced training to senior managers from industry, commerce, financial institutes and government organisations.
Delivered by renowned academic financial specialists and led by Professor David Newton of Nottingham University Business School, the first programme, which was attended by 30 senior officials from banks and insurance companies located in Guangdong province, examined the way that international finance works.
Strategies and practical ideas
In addition, the programme also looked at the various strategies that financial institutions can adopt to address some of issues they are facing as they change their systems to match more closely those in other countries. It provided participants with practical ideas and innovative approaches to some of the issues they are facing.
This first programme is part of a wider portfolio of training and research activities which will be delivered by the Guangdong-Nottingham Advanced Finance Institute as it develops over the next two to three years. The Institute will be based in the city of Foshan in the Guangdong region of southern China, which has the largest GDP of any Chinese province, estimated to be around £550 billion per annum.
Guangdong is also one of the most populous regions in China, with over 100 million people, and the provincial capital, Guangzhou, is recognised as the largest financial centre in China. In the longer term, the aim is to house the Institute in a new, state-of-the-art building.
Supporting the growth of China's financial sector
A ceremony also took place to to celebrate the start of the programme, and one of the keynote speakers was Professor Lu Lei, President of Guangdong University of Finance. Speaking about his hopes for the Institute, he said: “The Guangdong-Nottingham Advanced Finance Institute will play a very important role in the future development of China’s financial sector.
“We are looking forward to building a long and successful partnership with The University of Nottingham to develop the leaders of our country’s banks and other financial institutes. The Institute will help to support the growth of the financial sector, which is critical to the economy of Guangdong and Southern China.”
Taking financial specialists to the next level
Mike Carr, Director of Business Engagement and Innovation Services (BEIS) at The University of Nottingham, added: “A lot of hard work has been done, both in Nottingham and in Guangdong, to get us to this point. However, I’m delighted that the efforts of all involved are now bearing fruit, with the start of the Institute’s first programme for senior leaders in China’s financial industry.
“We are looking forward to working with colleagues in the Guangdong University of Finance, along with partners in government, in order to ensure that GNAFI delivers the high quality training which will help take China’s financial specialists to the next level of understanding and knowledge.”
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Notes to editors: The University of Nottingham has 43,000 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 the most popular university in the UK among graduate employers, in the top 10 for student experience according to the Times Higher Education and one of the world’s greenest universities. It is ranked in the World’s Top 75 universities by the QS World University Rankings.