Founding of PBC School of Finance, Tsinghua University
PBC School of Finance (PBCSF) of Tsinghua University was inaugurated on March 29 in the University Main Building. PBCSF, the 17th school of Tsinghua, is a successful result of cooperation between the central bank and Tsinghua on the basis of the Graduate School of People’s Bank of China (PBC), which was established in 1981.
The ceremony was attended by Minister of Education YUAN Guiren, Governor of PBC ZHOU Xiaochuan, Tsinghua University President CHEN Jining, and Chairman of University Council HU Heping.
Governor Zhou is appointed as the honorary Dean while Madame Wu Xiaoling, Former Vice Governor of PBC, was appointed as the chairwoman of the Board and Dean of PBCSF. Other board members includes vice presidents of Tsinghua University, vice governor of PBC, vice chairman of China Banking Regulatory Commission (CBRC), vice chairman of China Securities Regulatory Commission(CSRC), vice chairman of China Insurance Regulatory Commission(CIRC), representative of Liu Hongru Financial Education Foundation, and representative of alumni.
The Minister said that the establishment of PBCSF as a high-end finance education platform is of great significance in terms of bringing China’s higher education to a new level, exploring cooperation on education between universities and industries, reforming China’s finance education, and stepping up efforts to build world-class universities. He also hoped that PBCSF would capitalize on its strengths to provide well-trained, creative-thinking, and high-level financial minds; focus on enhancing basic, applied and interdisciplinary researches that are at the forefront of world finance study and in line with China’s interests; and provide strong intellectual support as a national finance think-tank for China.
Governor Zhou talked about the high requirements on finance education and research placed by changes of the global finance landscape, rising of emerging economies, and deepening of China’s reform. He reassured the central bank’s support for the School and also hoped that it would forge a synergy between Tsinghua’s resources as a comprehensive, research-based and open university, cultivate finance professionals who know both China and international markets well, and strive to be a leading finance education school both at home and abroad.
President Chen highly appreciated the contribution that the Graduate School of PBC has made to China’s finance reform in the past 30 years. He disclosed that the new finance school, PBCSF, is part of the overall development strategy of Tsinghua. President Chen also encouraged the School to continue its connections with finance regulators, synergize resources of the University and GSPBC, go on exploiting greater strengths through reform, and make greater contribution to China as a world-leading finance school.
Madam Wu stated that the founding of PBCSF reflects that education and finance communities long for high-end finance professionals. The School, according to her, will be a leading finance education, academic and policy research platform that aims to cultivate high-level finance professionals with creative thinking and global perspectives.
ZHANG Zhiping, alumni representative and President of Oriental Patron, said in his speech that with everyone’s support PBCSF is about to be the best among finance schools.
The ceremony was attended by over 200 people, including directors of PBC, alumni and present students of GSPBC, Tsinghua’s faculty members and students, as well as other representatives.
In 1981, with the urgent responsibility of providing professionals for China’s financial reform, the Central Bank established the “Graduate School of People’s Bank of China Research Center” (later its name changed to the “Graduate School of People’s Bank of China”). In the same year, with the permission of the Ministry of Education, the School admitted its first class of graduate students. In 1987, it launched its Ph. D. program. The School enjoys an influential alumni network with 1,814 Master’s degree holders and 247 Ph.D. degree holders as of September 2011.
In PBCSF, the Dean will work under the supervision of the Board. It will recruit the best finance scholars and educators from all over the world to form its own faculty and research teams.
The School will have Master of Science in Finance, Ph. D. in Finance, EMBA and MBA programs. It also plans to send every doctoral candidate under its program overseas for a 1-2 year exchange program.
The School will be dedicated to academic research, policy research and finance case studies, and work as a consultant agency for policymakers in the central bank as well as other finance regulators.