Top university playing leading role in regional transformation and upgrades

Zhejiang University of Finance and Economics, established in 1974, is taking measures to strengthen its leading position in specialized higher education, in a bid to support regional industrial upgrades and transformation in eastern China.

Home to 26,000 students, the university celebrates its 45th anniversary this year. It is a key academic institution in Zhejiang province focusing on the study of economics, management, liberal arts, law, engineering, arts and philosophy.

The university was approved by the Ministry of Education in 2018 to confer first-class disciplinary doctorates.

ZUFE is regarded as the cradle from which rise Zhejiang's public finance and tax officials, accountants, financial professionals and entrepreneurs. The institution has granted degrees to more than 130,000 graduates over the past 45 years and strongly supported regional economic development and reform.

"Many of our students received offers from commercial banks, accounting firms and security and investment companies in 2018," said Li Jinchang, Party secretary of the university. "About 60 percent of our graduates work in commerce, finance, accounting and information sectors, which reflects ZUFE's expertise in cultivating talent."

ZUFE has been shouldering responsibilities to serve China's national strategies and Zhejiang's economic reform since its establishment. It has become a close partner with many companies in Zhejiang, providing strong and professional support for them, according to the school.

Li said ZUFE will use its premium academic resources in applied economics, statistics and business administration to establish more think tanks, innovation centers and research institutes to support Zhejiang's plans for upgrading industries.

ZUFE is supporting Zhejiang's rural revitalization and participating in the "three tough battles" of controlling risks, reducing poverty and tackling pollution.

The university will also create a new regional highland in opening-up and coordinated development with neighboring cities by cultivating more professionals and providing more quality support services to the government, Li said.

Zhejiang, one of the most developed provinces in East China with a GDP surpassing 5 trillion yuan ($701.63 billion) in 2017, is paying greater attention to transforming its economy and shifting its focus from high-speed growth to high-quality development, according to Li.

The province has identified eight industries as key for development including information, finance and culture, each currently reporting more than 1 trillion yuan in annual industrial output value.

Zhejiang's economic reform will center on the digital economy and doubling industrial output value in the upcoming five years.

The province will also unlock the potentials of service, environmental protection, healthcare, tourism, fashion, finance, high-end equipment manufacturing and cultural industries, according to local media reports.

Li said Zhejiang's reforms will raise the requirements for talent cultivation.

"As a key provincial-level university, ZUFE needs to continue to improve its educational practices as well as continue to contribute to regional economic development," he said.

High-caliber education professionals are valuable assets to the university and measures are constantly being taken to attract more of them to ZUFE, he said, adding a new performance evaluation system has been introduced which enables professors to achieve long-term goals.

The university said it is further optimizing its talent support policies. It will help its faculty to broaden its international horizons and explore new ways in managing high-caliber professionals.

ZUFE has set a goal to become one of the top innovation-driven and economic and business-centered universities in China by 2030. It aims to be a regional high-caliber professional cultivation hub, economic and management research center and think tank in financial and economic fields, Li said.

tangzhihao@chinadaily.com.cn

(China Daily Global 10/02/2019 page10)