Local business schools seek more foreign ties

• Source: Global Times
• [10:01 June 24 2010]
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Global mindsets valued

Internationally minded business talents are the most highly sought-after hires Thursday, according to a human resources officer surnamed Wu who works for L'Oréal China.

"We prefer students that graduate from business schools abroad," he told the Global Times Wednesday. "They have an international vision and courage in mobility and flexibility."

Still, as the city ploughs ahead with endless skyscrapers, attracting global talents remains an uphill challenge despite, according to Fang Xinghai, director of the Shanghai Municipal Office of Finance Service.

"On one hand, Shanghai is like a new-born financial center compared with the big players like London and New York City that have been around for decades," he said. "On the other, we still need more advanced experts and talents, and a wide range of policies and rules need to be modified to create more incentives for financial talents in Shanghai, such as income tax breaks."

Fang added that in this regard, Shanghai can learn from developed cities like Hong Kong and Singapore.

Advancing times

Meanwhile, as the city continues to come together in all corners of business, more local business schools partner up with foreign counterparts, the fruits of their labors are bearing signs of progress.

According to the EMFD's European Quality Improvement System, which reviews business schools worldwide, the quality of talent that is being groomed locally is improving quickly. It now recognizes three local business schools - Fudan University's School of Management, China Europe International Business School and Shanghai Jiao Tong Uni-versity's School of Economics and Management officially received the honor at the beginning of the year.

"We offer a wide variety of exchange programs and dual diploma programs with top foreign business schools like Wharton School, Columbia University, Hong Kong University, Norwegian School of Management and Massachusetts Institute of Technology," a development and promotions officer for Fudan University surnamed Liu, told the Global Times.

"Only when we make contact with the outside world can we make comparisons and step forward," he added.