By Nikoletta Naydenova
China has become one of the most popular study abroad destinations for international students due in no small part to its long history, exciting culture and rapid economic expansion.
The appeal for any international business school student of studying in China is obvious. China is the world’s fastest growing economy and has been for the past 30 years. The IMF predicts that China will overtake the USA by the year 2016 to become the world’s largest economic power. So in terms of career advancement you can see why China is the most important place to have direct knowledge and experience of.
As the world’s top 500 companies do business in China, with many choosing to base their Asia-Pacific headquarters in Hong Kong and Shanghai, the opportunities for a business student in particular, to work with prestigious companies are numerous, and working in China with such companies will be a priceless experience to add to your CV.
Many of the elements that make up the foundation of the modern world originated in China, including paper, gunpowder, credit banking, the compass and paper money.
It has also launched an ambitious space exploration programme, involving plans to set up a space station by 2020.
China’s burgeoning energy sector has been driven by its booming economy over the past two or more decades. RMB500–600 billion is currently being invested in power generation and the same in grid construction. While China’s energy consumption per capita is still low compared to other countries at 66% of the world average and at 14% and 25% of the US’ and Japan’s consumption respectively, current trends suggest that by 2030 China will have overtaken the US to become the world’s largest energy consumer.
Economic growth and government investment is fuelling the expansion of the education and training sector in China. There is huge demand for English and other foreign languages, business and management, vocational training, corporate training and other functions. Yet China is still in the process of raising its spend on education to 4% of GDP.
Choosing the right destination for a Masters degree is an important step. Priorities shift from top league institutions to affordable fees and cost of living. However, what is often neglected when making this important decision is the future prospect for professional development in the place where you’re going to do your studies. And for a career in Finance China as a location would be a game changer.
This is one of the reasons why, China is a great place to do an MBA or a Masters in finance. Ranked among the top five most popular countries in the world, China is now one of the most preferred destinations for business students from all over the globe.
A lot of British, European and American universities have campuses, affiliations and collaborations in the country with growing popularity among both domestic and international students. One such institution is Liverpool University or Xi’an Jiaotong in the World Heritage city of Suzhou on China's east coast. The University was founded as a result of collaboration between Xi’an Jiaotong of China and Liverpool University and has so far been increasingly popular with students from all over the world. You can choose English only taught program or a bilingual course and will be able to taste two different cultures and approaches to education. Their Masters in finance is very much research based and provides a thorough insight into the global economic environment while promoting the development of practical professional skills. Another perk is the opportunity to meet some of the leaders of the financial world and participate in networking and recruitment events organized by local businesses.
If you include Hong Kong, China have a total of 7 institutions in the QS Global 200 MBA Rankings 2014/15: Asia Pacific. China is the current higher education leader within the competitive BRICS set. The very top spot in the ranking is claimed by Tsinghua University, followed by Peking University in second place, the University of Science and Technology of China (4th), Fudan University (5th). The QS World University Rankings of 2014 include seven rapidly Chinese ascending universities in the top 200, including, Tsinghua University (47), Peking and Fudan Universities (57 and 71 respectively), as well as an additional five in Hong Kong.
Apart from these high league domestic institutions, Britain has established campuses of some of its top universities as well. The University of Nottingham has collaborated with Guangdong University of Finance and Guangdong Provincial Government in order to establish the Guangdong-Nottingham Advanced Finance Institute, which will train up to 2,000 financial specialists every year. Lancaster University and Guangdong Provincial Office of Science & Technology have made agreement to be signed outlining future collaborations, including the recently announced China Catalyst programme to boost trade between UK and Chinese businesses.
As attracting foreign professionals is now among the top priorities of Chinese entrepreneurs, whatever university you choose will have its unique perks and advantages. With a financial and business scene this big and souring, China really has got to be one of the best places in the world to take a Masters degree in business and if a CEO is your ultimate objective as an aspiring financial Guru, start getting those applications ready – the competition will not be waiting.
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