News

September 06, 2021

2021 Seminar on Financial Policy in Pudong Pioneer Area Held at SAIF

On August 27th, the 2021 Closed Seminar on Financial Policy Interpretation in Pudong Pioneer Area was held at the Xuhui Campus of SAIF. The conference was jointly held by the Shanghai Advanced Institute of Finance (SAIF), the China Academy of Financial Research (CAFR) at SJTU, and the Professional Research Committee (PRC) of the International Financial Center at Shanghai Financial Society. More than 40 scholars and experts from different institutions and universities attended the seminar, including: People's Bank of China (Shanghai Headquarters), Shanghai Municipal Bureau of Financial Work, Shanghai Stock Exchange (SSE), School of Finance at Shanghai University of Finance and Economics, Antai School of Economics and Management at SJTU, SAIF, etc. The seminar was presided over by Professor Feng Li (Associate Director of CAFR, Secretary of PRC). Professor Guangshao Tu (Executive Director of the SAIF Board) gave a welcome speech on behalf of the organizers. "We will further strengthen the construction of think tanks and provide communication platforms. We will hold regular seminars like this one and public conferences on economic situation interpretation. We also sincerely welcome enterprises, experts, and scholars to actively participate in and support our seminars.", Professor Tu said in his speech. This year's seminar was a combination of keynote speeches and joint discussions. There were four keynote speeches given, respectively, by Chun Chang (Executive Dean at SAIF), Ti Liu (Deputy General Manager of SSE), Feng Lu (Deputy General Manager of the Shanghai Futures Exchange), and Lei Zhao (General Manager of the Reinsurance Department at the Shanghai Insurance Exchange). Themes of the speeches included: Offshore Financial Market, International Financial Asset Trading Platform and Science and Technology Innovation Board, Commodity Warehouse Receipt Registration Center, and Shanghai Reinsurance Center. In the speech entitled "Why Should We Build An Offshore Financial System In Shanghai?", Professor Chun Chang emphasized that it was inevitable that China would build an offshore financial market in Shanghai. He explained it from the perspectives of Cross-Border Payment Mode Selection, Capital Account Opening, and RMB Internationalization. He also made clear that building an offshore financial market in Shanghai helps to unify and coordinate the two markets, thus creating a new situation for reform and opening up. Ti Liu gave a speech on "Science and Technology Innovation Board Reform and Financial Services for Real Economy". He believes that the International Financial Asset Trading Platform and the introduction of the Market Maker System to the Science and Technology Innovation Board have great significance. They will not only play an important role in the development of SSE but also have a profound impact on the improvement of the capital market and the construction of Shanghai as an international financial center. In Feng Lu's speech, he explained the significance of "Establishing a National Commodity Warehouse Receipt Registration Center (CWRRC) in China'. Lu Feng said that the main challenge for the further development of commodity trading is information fragmentation, so the future CWRRC should integrate basic data first. At the same time, it should use blockchain and Internet of Things to connect information (from futures, spot, storage, logistics, traders, banks, etc.) to form a standardized and transparent database for the whole industry chain. Lei Zhao reported on the theme of "Building a First-Class International Reinsurance Center (IRC) with the Help of SSE". Lei Zhao pointed out that the traditional IRC was out of date. With China's institutional advantages, we should strengthen the financial infrastructure to build a digital reinsurance center for the future. The report also provided recommendations for supporting policies for the Shanghai International Reinsurance Center. After each speech, Professor Guangshao Tu summarized and commented. In the final discussion session, participants shared their opinions on the policies and made positive suggestions on the formulation and implementation of the specific measures in the Pudong Pioneer Area.

August 16, 2021

2021 Summer Institute of Finance (SIF) Held

On July 12th - 13th, the 11th Summer Institute of Finance (SIF) was successfully held. It was organized by the Shanghai Advanced Institute of Finance (SAIF) and the China Academy of Financial Research (CAFR) at Shanghai Jiao Tong University (SJTU). Due to the COVID-19 pandemic, the SIF conference was held in a combined online and on-site format in Shanghai. During the conference, more than 60 scholars, professors, and researchers from top universities and financial institutions from around the world discussed cutting-edge topics in current financial research. Professor Hong Yan (Professor of Finance, Deputy Dean for faculty and research at SAIF) chaired the SIF, and Professor Xiaoyun Yu (Professor of Finance at SAIF) was Chairwoman of the Paper Review Committee. Other SIF participants included: Professor Tan Wang (Professor of Finance at SAIF), Professor Kewei Hou (Special-Term Professor at SAIF; Ric Dillon Chair Professor in Investment at Ohio State University), Professor Huibing Zhang (Special-Term Professor at SAIF; Professor of Finance, University of Texas), Professor Sheridan Titman (Special-Term Professor at SAIF; McAllister Centennial Chair, University of Texas), Professor Andrew Winton (Special-Term Professor at SAIF; Finance Department Chair, Carlson School of Management, University of Minnesota). This year's SIF received a large number of submissions, with a total of 778 valid academic papers from all over the world, of which 12 papers were finally selected by the Paper Review Committee. These 12 papers were presented in six academic sessions, focusing on themes of "Finance Distress", "Agency and Monitoring", "New Measures, New Insights", "Firms and Mobility", "Hedging", and "Fund". During the conference, professors and Ph.D. students from various universities in China (and beyond) read or reviewed the papers, and 12 scholars shared their latest research findings at the conference. Their research issues included: 'Feedback and Contagion through Distressed Competition'; 'Gambling for Redemption or Rip-off, and the Impact of Superpriority';'Looking the Other Way: The Screening Role of (Weak) Internal Monitoring'; 'Morale, Performance, and Disclosure'; 'The Informativeness of Text, the Deep Learning Approach'; 'Concentration in Product Markets'; 'Assessing and Addressing the Coronavirus-induced Economic Crisis: Evidence from 1.5 Billion Sales Invoices'; 'The Talent Gap in Family Firms'; 'Operating Leverage and Hedging: A Tale of Two Production Costs for Asset Pricing'; 'Unmasking Mutual Fund Derivative Use'; 'The Proxy Advisory Industry: Influencing and Being Influenced'; and 'The Risk, Reward, and Asset Allocation of Nonprofit Endowment Funds'. At the conference, each paper was reviewed by an individual scholar. They made pertinent suggestions and comments on research content, ideas, and methodologies. In addition, there was a Q&A session in which scholars and professors made comments and discussed issues with the paper presenters and reviewers. The open and professional academic atmosphere at SIF was an inspiration and proved beneficial for scholars hoping to optimize their current research.

August 11, 2021

Report on China Resident Investment and Financial Behavior Released at SAIF

On July 14, the 2021 SAIF Wealth Management Industry Summit and the Release of "The Report on China Residents'Investment and Financial Management Behaviors (the Report)" was held at the Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University (SJTU). Professor Guangshao Tu (Adjunct Professor at SJTU and Executive Director of the SAIF Board) delivered a speech. Professor Hong Yan (Deputy Dean for Faculty and Research, Professor of Finance) gave his analysis of the Report. In his speech, Professor Tu emphasized the importance of residents'investment and financial management. He also pointed out that residents'investment and financial behavior directly influenced social financing structure, allocation of market resources, and capital market development. "Residents'investment and financial management should be valued,"said Professor Tu. Tu summarized and analyzed six trends of the current changes in residents'investment and financial management. These included: the rapid growth of aggregate demand, the continuous differentiation of demand structure, the transition of wealth structure, the transformation of the financial service industry, the empowering role of capital management technology, and the gradually standardized market order. Tu also gave suggestions on how to respond to the changing demands of residents through various avenues, such as: capital market development, improving the capability of capital management institutions, upgrading the market service system, enhancing investors'education, and promoting the standardization of the financial management market. "Problems and needs guide us to better promote the sound development of wealth management industry and the market,"Professor Tu mentioned. The Report was jointly released by SAIF, the China Academy of Finance Research (CAFR), and the Ant Group Research Institute. Professor Tu stated that the study combines SAIF's top academic research team with the Ant Research Institute's data resources; the two sides complemented each other. Moreover, he highly recommended the Report as an investment and financial management guideline to residents. Professor Hong Yan started the Report release session with an introduction to its background and methodology, combined with the main findings in the Report and some reflection about the research process. Professor Yan Hong said that since the Reform and Opening Up, Chinese residents have continued to accumulate wealth, generating increasing demands for wealth management. With guidance from the government, industry associations, and academia, financial awareness among Chinese residents has risen. In the current context of the rigid repayment break, interest rate decline, and real estate regulation, the wealth management demands of residents have been further released and transformed. This brings opportunities and challenges for the development of China's wealth management industry. To understand the current situation, in March 2021, CAFR and Ant Group Research Institute conducted an online questionnaire survey on active Alipay users in different age groups and regions to analyze the main characteristics of Chinese residents' investment and financial management behavior. With the results and findings of the survey, the Report was completed. Professor Yan then introduced the main conclusion in the Report. According to the evaluation of residents' financial health, most of the Chinese residents have set up family reserve funds or have purchased insurance, which demonstrates their risk management awareness. Evaluation dimensions were risk management awareness, asset allocation diversification, financial goals and planning, and family debt management. Residents'financial investment preferences are relatively conservative and mainly focus on bank deposits. Overall, their financial planning awareness needs to be improved and they have not formed a disciplined financial planning habit. Although the general indebtedness is manageable, some households have problems with debt management. The Report also analyzes the current financial management behaviors of Chinese residents in terms of their investment return expectations, insurance allocation, investment period, blind follow-up, automatic investment plans, and the deployment of professional investment advisors. The research finds that residents'expectation of returns is relatively high, especially among the highly educated group. However, their financial returns are often lower than expected. Most residents believe that they are lacking in ability to select products, especially those having only a small amount of financial assets. At the same time, residents prefer life insurance products; people with different income sources and in different age groups also have significant differences in buying insurance. The report also shows that the long-term value investment habits of Chinese residents have not yet been developed, while people with confidence in their investment ability, high education, and high income are more willing to hold funds for the long term. The "buying winners and selling losers"phenomenon is common in residents'investment and financial management, while the proportion of investors who have the habit of automatic investment and choose to seek professional investment advisory services still needs improvement. Subsequently, participants discussed "How can financial institutions serve the investment and financial demands of residents"and expressed some opinions in the Report.

August 05, 2021

2021 China International Conference in Finance (CICF) Held

On July 6th - 9th, the 18th China International Conference in Finance (CICF) was successfully held. Due to the COVID-19 pandemic, the CICF conference was held in a combined online and on-site format in Shanghai; it was the first among the four major global financial academic conferences to be held in this unique way. With a total of 1293 participants, 2065 submitted papers, 284 accepted papers, and 71 academic sessions, this year's CICF once again proved its growing international influence. Professor Jiang Wang (Chair Professor in Management at MIT Sloan School, Chair of Academic Council at SAIF) chaired the conference. Professor Zhiguo He (Fuji Bank and Heller Chair Professor in Finance at the University of Chicago, Booth School of Business) chaired the paper review committee, and Professor Kewei Hou (Ric Dillon Chair Professor in Investment at Ohio State University, Fisher College of Business) co-chaired the Paper Review Committee. Professor Chun Chang (Huifu Chair Professor, Executive Dean at SAIF) attended the conference and delivered a speech. Professor Kenneth J. Singleton (Adams Distinguished Professor of Management, Emeritus at Stanford Graduate School of Business) gave a keynote speech entitled "How Much 'Rationality'is there in the Bond-Market Risk Premiums?". The conference lasted for three days and featured 71 sessions, including 9 specialized ones with a focus on China. The 9 sessions presented and reviewed high-quality papers on China's financial markets and provided a unique perspective on the opportunities and challenges of China's financial development. In this year's CICF, SAIF showed its outstanding academic influence with a large number of papers (by its own faculty and Ph.D. students) being admitted. In addition, multiple SAIF professors chaired different sessions or reviewed the papers at CICF. The conference also established the Best Paper Review Committee, which was co-chaired by Professor Zhiguo He and Professor Kewei Hou. Seven papers were awarded the CICF Best Paper Award, Xia Yihong Best Paper Award, and Xiyue Best Paper Award, respectively. The paper "The SOE Premium and Government Support in China's Credit Market"co-authored by Jun Pan (Chair Professor at SAIF) and Zhe Geng (Ph.D. student at SAIF) won the CICF Best Paper Award. A full list of the awards is as follows. CICF Best Paper Award: "The SOE Premium and Government Support in China's Credit Market"co-authored by Jun Pan and Zhe Geng. "Regulatory Costs of Being Public: Evidence from Bunching Estimation"co-authored by Michael Ewens, Kairong Xiao and Ting Xu. "Global Carbon Divestment and Firms'Actions"co-authored by Darwin Choi, Zhenyu Gao, Wenxi Jiang and Hulai Zhang. Xia Yihong Best Paper Award: "Information Cascades and Threshold Implementation: Theory and An Application to Crowdfunding" co-authored by Will Cong and Yizhou Xiao. "Ownership and Competition"co-authored by Alessio Piccolo and Jan Schneemeier. Xiyue Best Paper Award: "Mapping US-China Technology Decoupling, Innovation, and Firm Performance"co-authored by Pengfei Han, Wei Jiang and Danqing Mei. "Centralization or Decentralization? The Evolution of State-Ownership in China"co-authored by Franklin Allen, Junhui Cai, Xian Gu, Jun Qian, Linda Zhao and Wu Zhu.

August 04, 2021

2021 SAIF-CAFR Financial Research Summer Camp Held

On July 10th and 11th, the Fourth SAIF-CAFR Financial Research Summer Camp was successfully held in a hybrid online-offline format. It was jointly organized by the Shanghai Advanced Institute of Finance (SAIF) and the China Academy of Financial Research (CAFR) at Shanghai Jiao Tong University (SJTU). Designed for young scholars, teachers, and Ph.D. students both in China and internationally, the SAIF-CAFR Financial Research Summer Camp introduces participants to the frontiers of academic research in finance. It provides them with cutting-edge research methodologies and fresh perspectives delivered by world-renowned professors. Its intent is to inspire their future academic careers and further enhance the overall quality of research and teaching of finance in China. The 2021 Summer Camp consists of onsite lectures given by three renowned finance professors. These include: Zhiguo He (Fuji Bank and Heller Professor of Finance and Jeuck Faculty Fellow, Booth School of Business, University of Chicago; Distinguished Visiting Professor at SAIF), Kewei Hou (Ric Dillon Endowed Professor in Investments, Fisher College of Business, Ohio State University; Special-Term Professor of Finance at SAIF), and Jianfeng Yu (Jianshu Chair Professor of Finance at PBCSF, Director of the Research Center for Asset Management, PBCSF-NIFR, Tsinghua University). The summer camp has received a lot of academic attention, and financial scholars from both home and abroad have actively applied. Eventually, 65 offline participants and 239 online participants were admitted. Most were professors, Ph.D. students, and researchers from renowned universities in China and beyond. Overseas scholars and researchers from Europe, America, Oceania, and the Asia-Pacific region accounted for 17% of the total participants. Professor Hong Yan (Professor of Finance, Deputy Dean for faculty and research at SAIF) delivered a welcome speech. In his speech, Professor Yan stated that the camp was established to promote academic exchanges in China and the Asia-Pacific region, stimulate innovative ideas and enhance the research capacity of young scholars. He also praised the participants’ enthusiasm for financial academic research and introduced the teaching faculty of the camp. The 1½ day program started with a lecture delivered by Professor Zhiguo He on "Fintech (Theory) and China's Financial Market (Empirical)". The lecture went over the most recent work that Professor He had been working on over the past five years. He first focused on theoretical modeling of bitcoin mining pools and competition between fintech and the traditional banking industry under open banking, together with empirical research related to these theoretical models. Then he discussed developments in China's bond market, including its interaction with local government debt and shadow banking, and the economic issues of SOE reforms in detail. Professor Jianfeng Yu gave a lecture on "Behavioral Approach to Asset Pricing Puzzles". In his lecture, Professor Yu gave a summary of recent developments in behavioral asset pricing. He then discussed the latest developments on the applications of extrapolation, prospect theory, investor trading behavior, and applications of several under-explored behavioral biases (such as the priming effect). Lastly, he investigated the role of mispricing in several prominent factor models. The theme of the lecture given by Professor Kewei Hou was "Factor Pricing and Anomalies: Latest Developments". The lecture was centered around a set of academic papers. It covered topics such as: the robustness of the anomaly literature, the latest factor models, stress-testing factor models with robust anomalies, and the relation between security analysis and factor models. The lecture helped participants to acquaint themselves with ongoing research in related fields. It also equipped them with a solid understanding of the quantitative tools in these fields in order to conduct related research. During the camp, the participants had thorough discussions with the professors and expressed their expectations for future Financial Research Summer Camp programs.

August 02, 2021

2021 SAIF Faculty Retreat Held

The 2021 SAIF Faculty Retreat was successfully held in Nantong, Jiangsu Province from June 28th to the 30th. The retreat was conducted both onsite and virtually, with a total of nearly 60 participants, including faculty, management, and department chiefs. The retreat focused on SAIF's development over the past year and shed light on such topics as talent training and think tank construction. With the strengths of faculty governance and active inter-departmental cooperation, the annual retreat effectively promotes SAIF's faculty development, discipline construction, and educational program innovation. This year's retreat was presided over by Professor Hong Yan (Deputy Dean for faculty and research at SAIF). Professor Chun Chang (Executive Dean at SAIF) introduced the key tasks including think tank construction and educational programs development related to SAIF’s Phase III strategic development. SAIF's recent achievements, including its extended AACSB accreditation and its discipline ranking, were also mentioned. Hui Wang, Mayor of Nantong, also attended and addressed the meeting. “Nantong city and Shanghai Jiao Tong University (SJTU) have had a close relationship since over a century ago," Mayor Wang said, "and it has been deepened recently by the signing of the strategic cooperation agreement between the two parties." He also introduced the current development of Nantong's economy and hoped to develop deeper collaboration with SAIF in the future. In the educational programs and research sessions, program directors from MF, MBA, and EED briefed the progress of their respective programs, analyzed the challenges they faced, and proposed innovative measures for future development. Professor Feng Li, Associate Director of CAFR, systematically introduced the school's think tank development and the training programs delivered by CAFR and SAIFR. On June 29th, the award ceremony for the "SAIF Outstanding Teaching Award"was also held during the retreat. Professor Eric Chang was awarded the 5th SAIF Outstanding Teaching Award. This award is sponsored by the "Weiye Teacher Scholarship"founded by Weiming Wang (a SAIF alumnus), to honor SAIF faculty for their outstanding contributions to teaching. On June 30th, the inauguration ceremony of the SAIF Qinglan Fund was held. The SAIF Qinglan Fund, an essential part of the SAIF faculty support fund system, recruits and cultivates high-level academic talent and provides targeted support to junior faculty in academic research. Professor Guangshao Tu (Executive Director of the SAIF Board), as one of the fund launchers, emphasized that the Qinglan Fund was established to promote young scholars to direct their efforts in teaching and research toward advancing SAIF’s development. Professor Chun Chang introduced the fund’s operation mode and expressed his gratitude to the faculty and alumni for their support. He also stated that as a research-oriented business school, SAIF would strive to further enhance its finance discipline and research development efforts. After a comprehensive discussion, Professor Guangshao Tu and Professor Jiang Wang (Chair of Academic Council) gave their concluding remarks. Professor Tu analyzed the demands and strategic layout of SAIF's educational programs, disciplines, and market from different perspectives, including: the adaptation to social development, the relationship between finance and the real economy, and regional development. Professor Wang said that an overall strategy and a long-term perspective are indispensable in building a world-class finance school; therefore, SAIF should strive for comprehensive development in teaching, academic research, policy, and applied research in the future. He also stressed that SAIF must expand its faculty team, strengthen its research force, and establish effective mechanisms to provide strong support for continuous research output.

July 08, 2021

SAIF Qinglan Fund Established

On June 30th, the establishment ceremony of the SAIF Qinglan Fund was held. Professor Guangshao Tu (Adjunct Professor at SJTU and Executive Director of the SAIF Board) and Professor Chun Chang (Executive Dean, Professor of Finance and Huifu Chair Professor at SAIF) delivered speeches. All SAIF professors and members of the management team attended the ceremony. Professor Guangshao Tu emphasized that the Qinglan Fund was established to promote young scholars to direct their efforts in teaching and research toward advancing SAIF's academic research and contributing to its think tanks. Professor Chun Chang said in his speech that SAIF, with its top academic research and extraordinary educational programs, takes the lead in the financial disciplines in China. The SAIF Qinglan Fund, an endowment fund jointly established by Professor Tu, along with many SAIF professors and alumni, will further support SAIF's lead position in the finance arena. The SAIF Qinglan Fund, one of the funds donated to by professors, introduces and cultivates of high-level young academic talent and provides targeted support for junior faculty in academic research. It will be used for the Qinglan Research Award and the Qinglan Scholars Program, and can also be used to support junior faculty at SAIF. The Qinglan Fund has set up a sub-fund, the Qinglan-Pudong Science Investment Fund. According to fund management regulations, people and enterprises from all areas can now donate to it. Anyone who donates more than a certain amount can become a director of the fund; he or she would then also have the right to rename the sub-fund.

July 06, 2021

2021 SAIF Commencement Held

On July 3rd, the 2021 SAIF Commencement Ceremony was held in the auditorium at the Xuhui Campus of Shanghai Jiao Tong University (SJTU). This year's event featured remarks from Qing Wu (Vice Mayor of Shanghai, Chairman of the SAIF Board) and Zhenbin Yang (Chairperson of the SJTU University Council, Vice Chairman of SAIF Board). The ceremony was also broadcast live to enable graduates and professors overseas to participate virtually. In his opening remarks, Professor Zhenbin Yang praised the remarkable achievements SAIF had made in recent years. "SAIF has effectively promoted SJTU's "First-class universities and disciplines of the world" construction and provided both talents and think tanks for the development of the Shanghai International Financial Center and the Global Science and Technology Innovation Center,"Professor Yang said. "In your new life journal, be perseverant, be honest, progress with foresight, and always strive for the prosperity of our nation," he remarked to the graduates. Vice mayor Qing Wu, in his speech, gave his best wishes to the graduates. He inspired all graduates to contribute greater efforts toward their future careers. In 2021, a total of 405 MF, MBA, EMBA, GES, and PhD students were awarded their degrees by SAIF. Included among them are the first class of Fintech Track graduates from SAIF’s flagship MF program. The Fintech graduates are heavily favored by the market; each student completes two years of systematic courses in finance, statistics, machine learning, and computer skills. The data provided by the SAIF Career Development Center shows that the placement rate of Fintech graduates is 100% and that half of them received more than three job offers. Meanwhile, the placement rate of MF General Track graduates was also 100% in 2021. Secondary market investment and research, sales and trading, consulting and investment banking are the main job functions for this year's MF graduates. By the end of June, the placement rate of 2021 full-time MBA graduates had reached nearly 95%. The top two industries they entered were asset management and investment banking or consulting (security/financial). During the ceremony, nineteen 2020 graduates and sixteen 2021 graduates received the "Shanghai Outstanding Graduate" award. Thirty-three 2020 graduates and thirty 2021 graduates received the "SJTU Outstanding Graduate"award. Shuwang Yan, a graduate representative from the EMBA program delivered an extraordinary graduation speech in which he reflected upon his own learning experience and expressed gratitude to SAIF. Three graduate donor representatives: Hong Zhu from GES 7, Hao Zhang from EMBA 2016, and Weiman Tang from MF 2019 accepted the graduation donation certificates. To encourage students with remarkable achievements, all funds from the donations will be granted as scholarships to SAIF MBA and MF students. At the ceremony, Jianjun Wang (Executive President of the Alumni Association at SAIF) warmly welcomed all graduates to join the SAIF Alumni Association. Together with the 2021 graduates, the 2020 graduates were also invited to join the commencement, which was canceled last year due to the Covid-19 pandemic. Professor Chun Chang, Professor Qigui Zhu, Professor Hong Yan, and Professor Feng Li awarded the graduation certificates to both 2020 and 2021 graduates and took photos with them. At present, SAIF has produced over 5000 graduates, all of whom now contribute to the progress of China's finance industry.

July 01, 2021

SAIF’s AACSB Accreditation Extended

On June 25, 2021, the Association to Advance Collegiate Schools of Business (AACSB) Board of Directors officially informed the Shanghai Advanced Institute of Finance (SAIF) that its accreditation had been extended for an additional five years. SAIF first earned its AACSB accreditation in 2016 and became one of the youngest accredited business schools in the world. International AACSB accredited institutions must complete an intensive peer-review process every five years to ensure continued compliance with evolving business education standards. From May 9th to May 11th, an AACSB Peer Review Team (PRT) conducted a virtual continuous improvement review on SAIF. The PRT was chaired by Professor Kalok Chan (Former Dean of the School of Business, Chairman of the Department of Finance, the Chinese University of Hong Kong), with Professor Wei-Chi Tsai (Dean, School of Business, National Chengchi University) and Professor Chae-Yeol Yang (Dean, School of Business Administration, Chonnam National University) as members. After a series of online interviews and conversations with SAIF stakeholders (including the management team, faculty, staff, students, alumni, as well as representatives of donors and employers), the PRT completed its comprehensive evaluation on SAIF's development during the past five years. These included its development strategies and goals, faculty management, intellectual contributions, educational programs, curriculum management, allocation of resources, and other aspects. After the review, the PRT applauded the outstanding achievements made by SAIF over the past five years. "SAIF has an open, friendly, and collegial culture. The school offers high-quality courses and provides students with a strong theoretical foundation, international perspectives, and local insights. Meanwhile, SAIF is quite responsive to market needs; for example, it comes up with the Fintech track for the MF program, and the Innovation Finance track for the EMBA program. In addition, its Chinese Academy of Financial Research (CAFR) fulfills an important mission of policy research and applied research, and creates research impact that can influence policy making,"stated Professor Kalok Chan, on behalf of the PRT. "Modeled after leading business schools in the world, SAIF obtained its initial AACSB accreditation only six years since its inception. The successful re-accreditation this year undoubtedly marks the recognition of our achievements in the past 12 years by the international peers. With our world-class faculty, innovative research, and leading curricula, SAIF will continue to provide finance education to the highest standards, endeavor to fulfill its mission to be a world-class institution, and make greater contributions to the financial industry development both in China and globally,"said Professor Chun Chang, SAIF Executive Dean.

June 04, 2021

SJTU Ranked 1st in Finance among Mainland Chinese Universities

Shanghai Ranking Consultancy introduced the Global Ranking of Academic Subjects (GRAS) 2021 on May 26, 2021. Shanghai Jiao Tong University (SJTU) and Tsinghua University ranked 1st and 2nd among mainland Chinese universities in Finance. In terms of the specific evaluation of academic indicators in Finance, SJTU ranked 1st among mainland Chinese universities with the weighted number of papers published in top journals scoring at 56.8, the average impact of papers published scoring at 81.8, and the percentage of internationally cooperative papers published scoring at 82.3. Shanghai Ranking Consultancy is a top-class organization dedicating to research on higher education intelligence and consultation. It has been the official publisher of the Academic Ranking of World Universities since 2009, and its Global Ranking of Academic Subjects (GRAS) contains rankings of universities in 54 subjects. In 2021, more than 1,800 out of 4,000 universities across 93 countries and regions were listed among its rankings. GRAS rankings use a range of objective academic indicators to measure the performance of world universities in respective subjects, including: papers published, research influence, international collaboration, research quality, and international academic awards. Compared with last year, the number of universities in mainland China on the list (and the total number of their listed subjects) significantly increased by 7.5% and 11.3%, respectively, this year. In 2021, SJTU ranked among the world's top 10 in 6 subjects, with more than 40 subjects on the list in total; it ranks 1st in Marine/Ocean Engineering.