The Initial Joint Promotion of Educational Innovation between Chinese Financial and Educational Organizations

The FICPUSI is also planning to develop a 'Superior Education Plan' which will cover national quality education and advanced educational technology, advanced international education, and educational large data application. This 'Superior Education Plan' aims to promote national quality educational courses development with a global horizon, international student contests, international teacher and principal training, academic IT application, and the establishment of elite independent schools, and planning future elite educational companies and schools. Moreover, the event also marks the launch of special educational financial products design and upgrading of schools and educational enterprises. The Plan helps to accelerate the funding and acquiring of special excellent educational enterprises and schools, push them to enter the capital market, and foster the sustainable development of educational innovation.

At the 2016 China Educational Financial Summit Forum, Financial Innovation Center of Peking University Shenzhen Institute signed a MOU with Ivy Elite Education Association and the League of 100 Quality School in China, to develop the "Superior Education Plan", and establish the special educational public fund, for conducting China-US educational cooperations on curricula, school improvement projects, principals and teachers' training, and standard-based school accreditation.

The 'China Educational Financial Summit Forum' was directed by China Academic Degrees & Graduate Education Development Center (CADGEDC) and the Shenzhen municipal government and was co-sponsored by Peking University Shenzhen Institute, Shenzhen Banking Association, Shenzhen Securities Association, Shenzhen Insurance Association, South China Normal University, Association of Principals of Guangdong Province, Ivy Elite Education Association, and Shenzhen Innovation Corporate Social Responsibility Development Center. It was supported by China Construction Bank (Shenzhen Branch), Bank of China (Shenzhen Branch), Ping An Insurance Group China, Ltd., Essence Securities, and Chang'An Trust.

The forum focused on the formulation of 'The Education Act'. With the enforcement of 'Private Education Promotion Law', financial organizations will now cooperate with national educational sectors, pushing forward the acquisition and integration of schools. They intend to promote the development of special educational investment fund, educational IPO, school capital securitization, educational trust, fund, insurance, credit, overseas educational finance, and other blue ocean financial businesses. The forum also made analyses of issues on how to promote the integration, financialization, and internationalization of China independent education, it encouraged the mechanism of survival of the fittest in the capital involvement in education. It planned to make integration of more excellent educational enterprises and schools in China.  

Mr. Zhao Yu, Assistant Director of CADGEDC, one of the guiding institutes for Superior Education Plan, said The Center will provide great support to the joint efforts between China financial and educational organizations in order to implement national educational reform, and it will encourage more business schools in Chinese universities to design financial products and investment modes with financial investment organizations.

Mr. Xiao Zhijia, Vice Director of Financial Affairs for the Shenzhen municipal government and one of the guiding institutes for Superior Education Plan, said this education financial conference is a grand meeting to reflect the promotion of educational innovation through national financial development, and the innovative cooperation between capital and educational industries. It is an opportunity for more excellent educational enterprises and schools to achieve integration and capitalization, and step into multi-capital market in quick pace, which is significant for both practice and exploration.  

Mr. Tan Wenchang, President of Peking University Shenzhen Institute and one of the guiding institutes for Superior Education Plan introduced that it is necessary to take advantage of the tremendous influence and reputation of Peking University at home and abroad. Peking University aims to work with government sectors to advocate national financial investment organizations to carry out reform and innovation in the educational industry. In the meantime, The Plan will allocate Peking University special educational investment funds in financial investment organizations in Shenzhen, Guangzhou, Shanghai, Beijing, and Chengdu to foster industrial chain cooperation and M&A of excellent schools and educational enterprises nationwide. It is targeted for sustainable promotion of the major financial innovation of national financial investment organizations.

Ms Emily Hu, Chief Director of Ivy Elite Education Association China Affairs Center, expressed that a growing involvement of China financial investment capital in the incubation of financial investment and educational financial products in excellent secondary schools and famous educational enterprises offers great impetus to the cooperation between quality American educational resources and Chinese educational resources and channels. These resources include excellent American principals and teachers, professional resources, curriculum and student projects, information technology, and educational assessment standards and certification. Utilizing these resources will improve the efficiency of current conventional Chinese international educational cooperation. 

Professor Wang Hong, Director of Overseas Teacher Training Base of the Ministry of Education, and Professor of the School of Professional Development and Research on Primary and Secondary Education, believes that there are many benefits to encouraging renowned Chinese financial organizations like banks, funds, trusts, and insurance companies to participate in Chinese educational innovation and explore international educational cooperation. This will not only establish special principal and teacher training bases in international cooperation fields in China, but sets up China overseas educational training bases for Chinese school investors, principals, teachers, and educational enterprises in America and Europe, including online educational training bases. All of this can bring reduction of expenses for Chinese principal and teacher training and helps to lead a professional upgrade of educational staff.  

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SOURCE Shenzhen Innovation Corporate Social Responsibility Development Center