On­line fi­nance course launched

Top­ics of study in­clude mo­bile pay­ments, crowd­fund­ing and in­ter­net bank­ing

China Daily (USA) - - CHINA - By ZHOU WENTING in Shang­hai zhouwent­ing@chi­nadaily.com.cn

China’s first-ever univer­sity course on in­ter­net fi­nance, in­tended to en­hance stu­dents’ abil­ity to un­der­stand and man­age their wealth on­line, has be­gun at Shang­haiUniver­sity of Fi­nance and Eco­nom­ics.

Jointly de­vel­oped with Ant Fi­nan­cial Ser­vices Group, an arm of Chi­nese e-com­merce gi­ant Alibaba, the eight-ses­sion, elec­tive course fea­tures talks from both univer­sity pro­fes­sors and on­line fi­nance prac­ti­tion­ers.

Top­ics cov­ered in­clude new forms of fi­nance, such as mo­bile pay­ments and crowd­fund­ing, as well as prac­ti­cal busi­ness ex­am­ples in the ar­eas of in­ter­net bank­ing and fund man­age­ment.

“The rapid de­vel­op­ment of China’s econ­omy has brought so many new mat­ters to the fore, and we wanted to re­new our cur­ricu­lum to re­flect this,” said Wei Hang, vice-pres­i­dent of the univer­sity’s School of In­ter­na­tional Busi­ness Ad­min­is­tra­tion.

“The fact that the course was over­sub­scribed showed that our de­ci­sion was quite cor­rect.”

Dur­ing the first class of the new course on Sept 22, stu­dents dis­cussed the ne­ces­sity of fi­nan­cial man­age­ment while at univer­sity.

Such top­ics are rel­e­vant be­cause Chi­nese born in the 1980s and ’90s are the main users of on­line plat­forms to man­age wealth and make in­vest­ments, ac­cord­ing to a re­port re­leased in Jan­uary by Ali­pay, Alibaba’s on­line pay­ment plat­form.

“Ev­ery one in five of those who­turn to in­ter­net plat­forms for wealth man­age­ment is a high school or a univer­sity stu­dent,” the re­port said.

Xu Jie, vice-pres­i­dent of Ant Fi­nan­cial Busi­ness School, said wealth man­age­ment ed­u­ca­tion in China lags far be­hind that in the United States and the United King­dom, where classes on man­ag­ing money and sav­ings be­gin in pri­mary schools.


She said that a lack of aware­ness in these ar­eas has led to cases where stu­dents spend im­pul­sively, run up credit card debts and end up be­ing swin­dled out of a large amounts of money.

At least two stu­dent sui­cides this year have been in­ves­ti­gated by po­lice amid claims of the in­volve­ment of fraud­sters.

It is hoped that by en­hanc­ing stu­dents’ fi­nan­cial ed­u­ca­tion, they will be bet­ter able to un­der­stand and man­age such risks.

Live video clips of classes from the new course will be made avail­able to all univer­sity stu­dents via Ali­pay’s mo­bile app.

Wei, from the univer­sity, said they are also con­sid­er­ing adding other new sub­jects to the cur­ricu­lum.

“E-com­merce and how it af­fects in­ter­na­tional busi­ness and trade, for ex­am­ple, is a new and thriv­ing topic in the new en­vi­ron­ment of world eco­nom­ics,” he said.

See more by scan­ning the code.



Stu­dents at Shang­hai Univer­sity of Fi­nance and Eco­nom­ics sign up for a course on in­ter­net fi­nance by scan­ning a code with their mo­bile

Above: Stu­dents use drama to con­vey the im­por­tance of wealth man­age­ment at Shang­hai Univer­sity of Fi­nance and Eco­nom­ics in Shang­hai. Left: Teach­ers speak with stu­dents dur­ing the first class of the new course.

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