The mission is being coordinated by the Australian Financial Services Training Alliance (AFSTA), an initiative of Axiss Australia, the Federal Government agency positioning Australia as a global financial services centre. It will be led by Mr Les Hosking, Chief Executive Officer of Axiss.
Seminars on Australia's financial services industry and the education and training system that supports it will be conducted over the five days. Bilateral meetings will also be held with key officials from government, universities, regulators and the Shanghai and Shenzhen Stock Exchanges. Beijing, Shanghai and Shenzhen, three of China's principal financial centres, will be visited during the mission.
Mr Hosking said: "There is considerable demand for financial skill development in China following its recent entry into the World Trade Organisation and its ongoing program of reform to capital markets, corporate governance and financial supervision.
This was furthered in September 2002 when a memorandum of understanding to develop closer ties was signed between the Australian and Shanghai Stock Exchanges. Increased activity by Australian education and training providers in China will create valuable links to this emerging financial centre and raise Australia's profile as a key provider of financial services expertise in the Asia-Pacific.
"Australia's excellence in finance education and training is well recognised. It is one of the preferred overseas education providers for students from Singapore, Indonesia, Thailand, Hong Kong and Malaysia, and more than 40% of the 112,000 overseas tertiary students studying at Australian universities are studying finance-related disciplines."
The seminars will be presented by AFSTA-member delegates from the following organisations:
- Australian and New Zealand Institute of Insurance and Finance
- Australian Securities and Investments Commission
- Axiss Australia
- CPA Australia
- Monash University
- National Insurance Brokers Association of Australia
- Securities Institute of Australia
- TAFE Global
The high quality of the workforce underpins Australia's standing as a financial centre and is cited as the most compelling attraction for doing more business in and from Australia by global financial services firms.
* World Competitiveness Yearbook, Institute for Management Development, Switzerland
