Global vision, but Chinese style

As the first education base for leading financial students, the School of Finance in Renmin University of China (RUC) is increasingly internationally focused. It has been working to provide a bridge between global leading academies enabling students to both dream and discover academics and ambition.

Various international exchanges and communication

Great efforts have been made by the School of Finance to reform the curriculum, which has been designed to respond the real demands of students’ international development. It focuses on the teaching of a basic curriculum that includes English and maths, as well as five subjects which are interactively taught bilingually.

The school has not only specially invited outstanding teachers to give additional oral courses for sophomores, but has held annual English drama contests. The contest plays a positive role in enriching the students' campus life and educational variety, building up their ability of expression and enhancing group cohesiveness. Furthermore, in conjunction with the International Chinese Master of Finance Program, officially launched in September 2010, the school specially hired foreign financial students to tutor the juniors’ oral English.

An English speech contest to assess the English proficiency of students is held by the school every year. The school's Higher-level Personnel Training Plan has been developed from the original bilingual promotion program only for the undergraduate into a comprehensive personnel training system. It now covers three academic levels, including undergraduate, master’s and doctoral. The system integrates international cooperation with education innovation, and cultivates academic and linguistic improvement amongst students and faculties in tandem.

The school has promoted a series of high-quality double master degree programs based on cooperation with global top universities, such as RUC - University of Luxembourg (double degree in banking and finance), and RUC - Durham University/Johns Hopkins University/University of Illinois Urbana-Champaign (double degree in finance). Students enrolled in these programs receive two degrees from both the Renmin University of China and the corresponding overseas universities.

Further diversified international interactions are available for the students. The school regularly sends students to world leading universities such as Cambridge University and Harvard University for further study as part of their degree.

In addition, students have the opportunity to join in the US state government internship program every year, providing the opportunity for internships in the US federal government, state government, and other institutions to gain valuable work experience and expand their international horizons.

The School of Finance also spares no effort in supporting the development of student clubs enhancing international communication, such as FACES (Forum for American/Chinese Exchange at Stanford-Renmin chapter) and MUN (Model United Nations). These clubs are multicultural and frequently inspire activities around international exchange. For example, FACES holds an “On Common Ground” forum every year to represent a global network of professionals, scholars and leaders who are shaping their respective fields in the United States and China.

A team from the School of Finance, RUC takes part in the Real Estate Financial Case Analyzing Competition in Cornell University.[Photo/School of Finance, RUC]

Channeling their knowledge into practice, students display an outstanding performance in international competitions. The school's team has taken part in the Real Estate Financial Case Analyzing Competition in Cornell University for five years, the only participating team with English as a second language. As the only school invited to the competition from Asia, the students from the School of Finance achieved a satisfying result at the competition.

In April 2016, a team consisting of 4 students from the school stood out from the 13th Global Simulated Futures Trading Competition, ranking in the top 2 percent after the first round and coming 7th in the final round. The students were also invited to the annual futures market meeting in Chicago as the first team from mainland China leaping into the top 10.

To amplify its voice in the world, the school launched a summit for Young Leaders between China and America every year in July 2014. The conference continues to invite outstanding American students to discuss important issues, such as economic development and international situations.

A team consisting of 4 students from the School of Finance has satisfying result in the 13th Global Simulated Futures Trading Competition in April 2016. [Photo/School of Finance, RUC]

Global vision rooted in local concerns

For further improvement of international competitiveness, the School of Finance recently promoted the active recruitment of teachers with overseas experiences.

So far, the School of Finance has employed 15 teachers with international doctoral degrees, which accounts for 15 percent of the school faculty. In 2006, overseas talent introduction became the key task of the school, and since 2008 the school has primarily recruited global PhD graduates from top universities.

The school sets strict standards for the teaching selection process, and introduces attractive career plans for those from home and abroad through human-based management and comprehensive services. The school provides the teachers with superior physical conditions and a vigorous environment for ideas to grow.

With strategic determination, the school has gradually developed an effective system of talent introduction, which contributes to the establishment of an internationally sustainable platform for personnel development.

It’s necessary to build the school as a globally academic platform based on the local concerns of China. Therefore, harmonizing internationalization and localization of personnel development is fundamental. On the one hand, the school encourages teachers with different backgrounds to exchange through academic salons, forums and joint projects; on the other, the school supports teachers to visit foreign institutions for international exchanges or attend academic conferences abroad and conduct cross-border joint research.

The academic publication of work by overseas teachers, including renowned international journals, provides a strong contribution amongst academia.

From 2010 to 2011, the overseas teachers led one third of the national projects funded by the Social Science Foundation and Natural Science Foundation. As for the home-grown teachers, they have also made remarkable academic achievements. According to the academic ranking of global institutions and researchers given by a US Economic Study, the school has ranked in the top 25% for five years, and four teachers of the school leap into the front rankings of global researchers.

Zhang Chengsi, director of the school’s double major in finance and math program, attained PhD from the University of Manchester and has created a bilingual teaching methodology based on the practices of bilingual lectures in financial econometrics. He regards teaching as an art in need of experience. To promote the exchange of teaching experience, the School of Finance specially designed a peer observation system which encourages teachers to mutually audit other teachers’ lectures.

The school appointed overseas teachers to teach students in an experimental program where most courses are given in English. The experimental program is refined to be practicality-oriented, providing international research tutoring and specific guidance of financial study, which enables the undergraduates to access international academic projects. To date, two students from the program have published SSCI papers. As globalization continues, the School of Finance has taken abundant initiatives of internationalization. As a student-centered institute, the school focuses on student cultivation and global talent introduction, attaching equal importance to international exchange and local concerns. Its collective efforts and initiatives have made great achievements and contributions to the world by equipping students with the comprehensive knowledge to face and resolve the issues faced by an international society.

(By Huang Wenbin, Wang Zuo, Wang Kejia, Zhang Yanming)