In an update on a future mapping for a cosmopolitan city that pivots international economy, finance, shipping and trading, Shanghai is strenuously pushing forward a range of policies targeting a technological innovation centre of global influence and the Free Trade Zone. In answering to such requirements from the State Council and the planning on a national scale for the mid/long term (year 2010 to 2020) educational reform and development and vocational education (year 2015 to 2030), Shanghai Party Committee and Municipal government made the decision to amalgamate Shanghai Lixin University of Commerce and Shanghai Finance University to forge a high-quality application-oriented university of finance and economics with distinct features in accounting and finance. By increasing investment and governmental support, it is of service for gathering, training and sustainable education of high-profile financial professionals. The financial human resources system thus matches the fast-paced development of Shanghai. On June, 24th, 2016, the official ceremony of the establishment of Shanghai Lixin University of Accounting and Finance was held, coinciding with the announcement of a new panel of leadership. The reorganization optimized education resources and broke through the bottleneck by addressing the problem of overlapping, integrating and forging complementary advantages. Through the merger, it was highly expected that the general competitiveness of financial professionals in Shanghai and the impact of financial education could be promoted, thus bridging talent gap and offering better service to support local economy
History of Shanghai Lixin University of Commerce (SLUC) could be traced back to 1928, when it was founded by Mr. Pan Xulun, a famous educator honored as the “Father of Modern Accounting in China”. In 1952, it was amalgamated with institutions of similar kind before regaining independence in 1980 and restoring its name as Shanghai Lixin University of Commerce in 2003. SLUC was accredited to offer master’s degree in 2011.
The forerunner of Shanghai Finance University (SFU) -Shanghai Banking School (SBS)– was affiliated with the People’s Bank of China (PBC). In 1987, SBS was elevated to Shanghai Finance College, and has operated under the joint jurisdiction of the Shanghai Municipal People’s Government and PBC since 2000, with the former taking the lead role. In September 2003, it was graded full university status under the name of Shanghai Finance University.
After the merger, SLU established its motto “Li Cheng Ming De, Jing Shi Zhi Yong” (Integrity and Practical Wisdom), a combination of its respectful history with a spirit of honesty. The idea behind school management is an integration of honesty, practice, and openness. SLU is dedicated to distinguish itself as an academy of honesty and trustworthiness, regarding research and practice as equally important.
SLU is the home for 20,000 students, among whom there are over 190 graduates, 18,700 undergraduates, and about 1,600 college students. Among the 1,500 faculty and staff members, over 1,200 teach full time and 400 are state-certified senior professionals in their academic fields. Over 400 faculties hold Doctor’s degree. With three campuses separately in Pudong, Songjiang and Xuhui District, the university covers a total area of nearly 100 hectares. A new campus which covers about 80 hectares is currently under construction in Cao Lu town, where a properly arranged, well-functioned university town will emerge to provide complete service and guarantee sustainable development.
SLU provides 35 undergraduate programs and a postgraduate program in auditing, operated in its 12 schools. We lay emphasis on faculty training by approaches including a system that cultivates talents on different levels and by categories, an honor college which functions as a talent incubator, and a Li Cheng pilot class to encourage financial elites. A joint cultivation mechanism has been fostered up, in hope that education be fused with industry, while cooperation agreements have been signed up with one enterprise after another, including a collaborative GE class and the first School of Fintech nationwide jointly built with Huike Group.
We recognize the importance of discipline construction. A thriving hierarchy of disciplines has been mapped out, featuring core disciplines such as Applied Economics, Business Administration and Statistics and fertilizing all disciplines in coordinated development. Business administration has been included into the municipal list of top subjects and principal subjects, Applied Economics enters the top-quality plan for higher education in Shanghai, while Open Economy and Trade appears among names of Shanghai municipal key subjects.
In academic program construction, Accounting and Finance are state-level characteristic disciplines; undergraduate programs for Finance, Taxation, cameralistics are municipal-level pilot majors for comprehensive reformation; 10 undergraduate majors ranging from Accounting, Finance and Marketing are pilot application-oriented majors. Accounting is a state-level talent training innovative pilot major.
With respect to research, SLU is dedicated in building a system for social service and research development that is social needs oriented. Focusing on national strategies, especially in efforts to satisfy the vital needs of economic and social development of Shanghai, the institution boasts academic edges in providing consultation that specializes in solving profound and practical problems. We have four research branches, namely Shanghai Fintech Research Institute, Free Trade Zone Research institute, Modern Payment and Internet Finance Research Center, Belt-and-road initiative strategy institute, alongside an innovative research base of social science of municipal level and a Shanghai University think tank. We also have a strategy consultation research base for Shanghai international financial centre construction and service economy and institutional innovation.
In regard to international cooperation, SLU has established partnership with over 150 overseas universities and academies. We also work with professional associations ranging from CFA, ACCA, AIA, and AICPA, providing training courses for international accounting certificate tests. We built a Confucius Classroom with International Business Academy in Denmark. We were also approved in a joint application with Cracow University of Economics in Poland for Erasmus Plus project.
SLU visions itself as a high-quality, application-oriented university of finance and economics with distinctive features. According to our development plan, by 2020, programs of Finance and Accounting will distinguish themselves as two strong brands, three first-level degree programs, namely Applied Economics, Business Management and Statistics, are due to accomplish breakthroughs, two first level disciplines— Applied Economics and Business Management — are to be ranked into top 20% in the list of national disciplines, and a series of leading disciplines, such as Statistics, will rank into top 25%. We also strive to put in use our new campus.
By 2028, SLU visions itself as a high-quality, application-oriented university of finance and economics with distinctive features, global reputation and domestic impact. A variety of disciplines on economy, management, science, laws and arts develop coordinately.