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Oracle Bay to bolster financial training

A financial training center was launched in Pudong New Area's Lujiazui yesterday to fortify the city's plan to become a global financial hub.

The center, Oracle Bay, which is not linked to the Oracle software company, will work with universities and financial institutions to develop joint programs to upgrade the skills of local financial professionals.

The facility will provide susidized dorms for up to six months to students, interns and visiting consultants in an effort to attract non-local elites.

The first phase of the center near the Longyang Road Metro station covers 9,600 square meters, including a 4,000-square-meter classroom area to train 400 people at a time. A 5,600-square-meter daorm area will accommodate 217 people.

The center has developed cooperation with 112 financial institutions and 22 domestic and overseas universities, as well as five certification agencies including Cambridge ESOL and the Association of Chartered Certified Accountants.

Working with Fudan University and Tsinghua University, Oracle Bay has launched the Chinese mainland's first postgraduate programs in fund management and law practices in shipping finance.

The first 100 financial professionals with certificates higher than a master's degree moved into Oracle Bay yesterday. The center plans to nurture more than 1,000 such professionals every year.

"The introduction of overseas professionals may swiftly make up for the talent shortage in the city," said Gu Xiaoming, director of the Lujiazui Function Zone Administration of Pudong New Area. "Speeding up the nurturing of domestic talent is a long-term strategy."

The city has sped up the nurturing of financial talents since the State Council in March mapped out guidelines for Shanghai to become a major international financial center and shipping hub by 2020.

Universities are adding financial programs and district governments are working to provide more training opportunities. Pudong's Zhangjiang area has opened a training course for overseas Chinese to set up enterprises in the area.


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