The Seminar on Publicizing Futures Knowledge in Universities is held in Beijing on July 24. The seminar is hosted by Dalian Commodity Exchange (DCE). Attending the seminar are representatives from the China Securities Regulatory Commission (CSRC), the Ministry of Education (MOE), futures exchanges, futures associations, futures companies, and 83 teachers from 48 universities. The seminar focuses on the “Industry-University-Research Institute Cooperation for the Futures Industry and Universities”, the “Standardization of Futures Teaching” and other topics. The representatives present share their experience in futures talent cultivation in universities, discuss the significance and development approach of publicizing futures knowledge in universities and reach consensuses.
Publicizing futures knowledge in universities is an inevitable requirement of the high-quality economic development
CSRC Vice Chairman Fang Xinghai says in the speech that the futures market can play an important role in assets pricing, resources allocation and risk mitigation. The CSRC has always attached great importance to the development of the futures market, and vigorously developing the futures industry conforms to the demand of realizing the high-quality economic development. The popularization and education of securities and futures knowledge is the base for the sustainable development of the market. The CSRC and relevant parties have actively promoted the inclusion of investor education in the pilot national educational system since 2013, involving over 1 million students from some 500 universities. In March this year, the CSRC and the MOE jointly issued the “Memorandum of Cooperation on Strengthening Popularization and Education of Securities and Futures Knowledge”, with an aim of further boosting the whole society to raise the rational investment awareness and improving the investing and wealth-management quality of the nation.
Fang Xinghai says that under the support of the MOE and the concerted efforts of DCE and other futures exchanges, universities and industry associations, the university futures education has spread from a single spark to a prairie fire. Next, the CSRC will continue to support the inclusion of securities and futures into the national educational system, and cooperate with the MOE to further press ahead with the overall planning and standard guidance and increase the policy and resource input.
DCE initiated the University Futures Training Program in 2017. At the seminar, DCE Chairman Li Zhengqiang makes a systematic illustration on the background and motivation of this program. He believes that to realize the high-quality economic development, we need to resolve the risk management issue of individual enterprises. Meanwhile to manage fluctuations and risks, enterprises need to be equipped with corresponding talents and set up good internal control system. Therefore, cultivating the risk management awareness of and teaching the risk management skills to undergraduates and preparing talents for enterprises to involve in the futures market are just the original intention of sponsoring the training program. He says that to further popularize futures knowledge in universities, the current sparse education in the form of forum and visit should be transformed into a normalized discipline with fixed courses and professional teaching materials. During this process, explorations should be continued. Next, DCE will keep transforming and upgrading the University Futures Training Program towards the goal of sustainability, popularization, normalization and standardization.
DCE has carried out over 100 training programs in cooperation with 71 universities, 8 local futures associations and 51 futures companies. About 90% of them have been included in the credit system, and nearly 7,000 students have participated in the training courses. Among the 71 universities, 38 are included in the “211” program and 21 in the “985” program, and a total of 51 futures companies get involved. Some of the universities, which had never set courses related to futures, started close contact with futures thanks to the program.
DCE holds the derivatives class for university teachers on July 22-24 before the university teachers’ forum. Chen Wei, senior expert of DCE; Fei Zhonghai, General Manager of Haipeng Tengrui; Wei Feng, General Manager of Guotai Jun’an Risk Management Subsidiary; Lao Hongbo, General Manager of CIEC Zhongbang; Li Qiang, former vice president of the China Futures Association, and Zhou Shiyong, President of Beijing Heyirong Investment Group delivered courses on the general information of the futures market, the risk management of bulk commodities, the futures instrument application of enterprises and the talent needed of the futures market. A total of 69 teachers took part in the training. Since 2017, DCE has invited university teachers (211 person times) to take part in the derivatives knowledge training for 3 consecutive years.
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