March 30, 2023
2023 QS World University Rankings Published
On March 22, Quacquarelli Symonds (QS) released its newest World University Rankings by Subject. Shanghai Jiao Tong University (SJTU) ranked among the top 50 in the world in 12 disciplines. Four of these twelve disciplines were co-constructed by SAIF, including: Business and Management Studies, ranked 32nd globally (1st in mainland China); Accounting and Finance, ranked 39th globally (3rd in mainland China); Statistics and Operations Research, ranked 43rd globally (3rd in mainland China); and Economics and Econometrics, ranked 56th globally (4th in mainland China). The ranking covered a total of 1,594 universities in 93 countries (regions) around the world, and conducted an independent comparative analysis of performance across 54 disciplines and 5 academic fields of 15,700 university disciplines. The listed number of disciplines from China hit a record high, reaching 851 in total. Disciplines of 21 universities in mainland China (123 in total) were ranked in the top 50, globally. QS World University Rankings by Subject is one of the four most authoritative global university rankings, along with Times High Education, U.S. News & World Report, and Shanghai Ranking. Unlike the Times and U.S. News rankings, which focus on comprehensive indicators (including academic conditions and funding), the QS and Shanghai Ranking emphasize academic reputation, research output, and impact.
March 27, 2023
SAIF-Charles Schwab 2022 China Residents Financial Literacy Report Released
On March 15th, the 2022 China Residents Financial Literacy Report (the Report) was released by SAIF and Charles Schwab (a top US financial services institution) at SAIF. The Report analyzed difficulties for Chinese residents’ financial literacy from six dimensions, and gave constructive suggestions on how to help Chinese residents’ future wealth prospects with better financial education. Focusing on financial literacy, participants offered suggestions on how to improve the financial literacy of Chinese residents from the academic, industry, and regulatory perspectives — jointly combining Chinese practice and overseas advanced experience. In the speech session, Guangshao Tu (Executive Director of SAIF Board) congratulated the release of the Report. He affirmed the importance and long-term significance of the study on financial literacy for Chinese residents. Lisa Hunt (Managing Director of International Markets, Charles Schwab) expressed her gratitude for the years of cooperation between SAIF and Charles Schwab. She pointed out that the financial literacy is a core issue of long-term concern for Charles Schwab. She called on financial institutions to play a key role in providing high-quality financial education and improving overall financial literacy. Professor Fei Wu pointed out that the current financial literacy of Chinese residents is unevenly distributed; basic financial knowledge, practical ability, and security awareness need to be improved upon. He also emphasized that efficient and universal financial literacy education is indispensable.
March 20, 2023
SAIF Greater Bay Area Center Launched
On March 19th, SAIF held the “New Future in the Greater Bay Area (GBA)” summit in Shenzhen. The enrollment of the 2024 MBA GBA Class and the SAIF Greater Bay Area Center was then launched, simultaneously. Shijun Cheng (Executive Dean, Professor of Accounting at SAIF) said that SAIF MBA GBA Class has a high-quality faculty and support team, and is supported by the officially launched Greater Bay Area Center. SAIF will utilize its international talent cultivation system to promote high-quality development of the GBA. SAIF MBA Program started its GBA Class enrollment for the first time in 2021, becoming the first MBA program in China to offer courses in Beijing, Shanghai, and Shenzhen. The program will combine the advantages of the three megacities to provide students with a deep learning experience from classroom to enterprise, and from theory to practice. By sharing alumni resources, it will also build a communication platform for interaction between students, schools, and enterprises which will help further to broaden horizons and enhance cooperation. At the launching ceremony, Professor Eric C. Chang (MBA Program Academic Director at SAIF) posited that SAIF provides not only financial knowledge but also specialized education to improve students’ capability, thus empowering industry. SAIF’s curriculum focuses on the international and ESG perspectives of social and economic development. For the GBA Class, SAIF will offer a number of “Science and Innovation” courses to help meet the urgent needs of talent development for the GBA. In addition to the formal courses, the program also provides a CGFT course and an individual industry mentor to help students with their academic and professional development.
March 09, 2023
SAIF and Visa Sign Strategic Cooperation Agreement
On February 21st, SAIF and Visa signed a strategic cooperation agreement. Guangshao Tu (Executive Director of SAIF Board) said that SAIF is focusing on education and research in Green Finance, Digital Finance, Science and Innovation Finance, and Inclusive Finance based upon its existing advantages. Taking high-quality development as an opportunity, SAIF designs cutting-edge education courses, broadens training areas, and advances construction of think tanks to further enhance its ability to serve Shanghai as an International Financial Center. Visa plays an important role in the global payment field, and the cooperation between Visa and SAIF is of great significance to both sides. Xiaolong Yin (Global Vice President and President of China, Visa) said that, as the world’s leading digital payment company, Visa is pleased to cooperate with a top financial institute like SAIF. He hoped the comprehensive cooperation would bring professional financial courses and experience to Visa colleagues and banking partners, and contribute to the development of individuals, enterprise, and the economy. In the future, both sides will combine their respective resource advantages to strengthen cooperation in international exchanges, executive courses, and financial technology talent training to promote high-quality development for the payment industry.
February 24, 2023
2023 International Youth Leadership Finance Summit Held at SAIF
On January 12th, the 2023 International Youth Leadership Finance Summit (IYLFS), hosted by the SAIF MF Program, was held online. More than 120 students from 17 top universities around the world (including Tsinghua University, Peking University, Shanghai Jiao Tong University, Fudan University, Chinese University of Hongkong, New York University, and University of California) gathered online to focus on ESG Investment. At the opening ceremony, Jonathan Bailey (Head of ESG Investing at Neuberger Berman) gave a keynote speech. Based upon his 15-year professional ESG experience, Bailey gave a detailed speech from five aspects: how to integrate environmental, social and governance factors in the investment process, how to help enterprises’ development with investment, how to assess the risks and opportunities brought about by climate change, ESG investment trends in 2023, and how to start an ESG investment career. During the four-day live PK session, participants competed on the theme of “Green Bonds”, “ESG Disclosure Standards”, and “EU Emissions Trading System (EUETS)”, conducted in English. In the end, the team from Tsinghua University won first prize with its report on “ESG Disclosure Standards”.
February 24, 2023
SAIF Conducted Faculty Recruitment at ASSA Annual Meeting
In early 2023, SAIF attended the Allied Social Science Association Annual Meeting (ASSA Annual Meeting) in New Orleans, and held a reception with the support of the American Finance Association (AFA) to recruit global young professors. SAIF has always been recruiting top faculty worldwide. It was the only Chinese business school that held a special reception at the ASSA Annual Meeting this year. During the annual meeting, SAIF Professor Team interviewed 26 candidates online from a rigorous selection pool of nearly 200 applicants. The ASSA Annual Meeting is one of the world’s largest academic social and science meetings consisting of AEA, AFA, ES, and 64 other related societies. This year, more than 13,000 economists attended the meeting. It not only provides a platform for academic exchange, but also offers an important channel for graduates of Economics, Finance, and Management in North America to apply for jobs.
February 24, 2023
Professor Zhan Jiang’s Subject Selected as 2022 SAC Excellent Key Subject
To serve the real economy, the reform of capital markets, and the development of the securities industry, the Securities Association of China (SAC) organized research for key subjects in 2022. SAC received a total of 476 applications, of which 183 were listed as key subjects. Finally, 59 subjects (submitted by 34 brokerages, 1 fund company and 1 regulatory agency) were selected to be designated as an Excellent Key Subject. The subject “Empirical Research on the IPO Pricing Efficiency under the Registration System - The Protection of Small and Medium Investors” led by Zhenying Gao (Chairman of Xiangcai Securities) and Zhan Jiang (Professor at SAIF) was included on the Excellent Key Subject list. Based upon the development experience of China’s capital markets, Zhan Jiang’s group focused on the specialization of local pricing mechanisms under the registration system. Starting with regulatory rules, market mechanisms, and enterprise characteristics, they identified problems and explored solutions for the pricing mechanism related to IPO by combing theoretical research and empirical analysis. In the future, the group will continue to conduct in-depth research to improve the effectiveness of financial support for science and innovation, and to enhance the effective allocation of resources. Except for IPOs, they will focus more on the improvement of the system and mechanisms related to M&A and Restructuring.
February 13, 2023
SAIF 2023 Annual Board Meeting Held
On January 15th, SAIF held its 2023 Annual Board Meeting. Qing Wu (Member of the Shanghai Municipal Standing Committee, Executive Vice Mayor of Shanghai, Chairman of the SAIF Board) presided over the meeting and delivered a speech. Board members, and other esteemed leaders attended the meeting. The meeting reviewed and summarized the work of SAIF in 2022 and considered work arrangements for 2023. Report on the Improvement of SAIF Third Phase Construction was discussed and adopted as well. During the meeting, Professor ShiJun Cheng (Executive Dean) presented the annual work report for 2022 on behalf of SAIF. The directors reviewed the achievements of SAIF for the past year and discussed various aspects for further work and development. Chairman Qing Wu put forward four suggestions for the new phase of SAIF in his concluding speech. First, we must stick to the construction goal of “The World-Class Finance School” and its internationalization mode. Second, we should strengthen the formation of our international top-tier faculty. Third, we should serve the national development strategy, and continuously improve our high-end think tank. Fourth, we should enhance the self-managed operation capability worldwide.
February 10, 2023
White Paper Released on Bankruptcy Restructuring for Listed Companies in China
On January 17th, White Paper on Bankruptcy Restructuring of China’s Listed Companies (2022) - Case Study Report on Bankruptcy Restructuring of China’s Listed Companies from 2018 to 2021 was released by a group jointly formed by SAIF, the Center for Corporate Financial Research at CAFR, and the M&A and Restructuring Specialized Committee at Global Finance Leaders Forum. The paper provides a comprehensive overview and study of bankruptcy restructuring cases for China listed companies in recent years. Summarizing the experience, it puts forward a number of policy recommendations to promote the standardization of bankruptcy restructuring of listed companies and to protect investors’ rights. The paper shows that there’s no significant correlation between the share price after reorganization and net profit increase, for most companies. Although some listed companies have temporarily solved their debt crises through bankruptcy reorganization, their sustainable operation and profitability have not recovered. Some even use insider information in the restructuring for arbitrage, which harms the rights and interests of small and medium-sized investors and hampers the development of China’s capital markets. Hence, the group proposed a number of policy recommendations, including: “Strengthen the review of restructuring plans, especially business plans”, “Increase penalties for market manipulation, insider trading and other illegal acts”, “Strengthen market education and focus on early diagnosis”, “Guide and explore experienced restructuring investors to participate in bankruptcy restructuring of listed companies”, and “Protect the interests of small and medium-sized investors”.
January 13, 2023
SAIF and Chengdu Commercial Association Sign Strategic Cooperation Agreement
On December 13, 2022, SAIF signed a strategic cooperation agreement with Chengdu Commercial Association. Both sides will capitalize on their respective strengths and cooperate in talent training, resource sharing, study visits, and academic research. SAIF has gathered together a world-renowned faculty and the most complete high-end financial management courses. Its strengths lie in academic research and originality. Chengdu’s financial industry has been developing rapidly in recent years. In this context, SAIF and Chengdu Commercial Association reached a strategic cooperation. With this synergetic bond, we will explore a new mode of cooperation between industry, academia, and research. This will be a new model for value co-creation between regional commercial associations and financial institutions. SAIF will contribute with its capabilities in academic research and talent training, and with its rich industry resources in the financial industry. It will actively assist the member enterprises of Chengdu Commercial Association with innovative development. Both sides will deepen cooperation based on a common vision. We will complement our respective advantages and enhance common development. Together, our contributions will accelerate the high-quality economic development of Chengdu.