The 4 to 8 November mission conducted seminars in Beijing, Shanghai and Shenzhen to more than 200 representatives from government, regulators and finance industry participants from the banking, insurance, securities and related-support sectors. The program focused on the strengths of Australia's financial services industry and the education and training system that supports it.
Mr Les Hosking, mission leader and Chief Executive Officer of Axiss Australia, said: "The mission was received very positively. Audiences were eager to hear about Australia's experience in reforming its financial sector and solid relations were established with Chinese institutions keen to link with Australian providers to enhance finance education and training in China.
"The timing of the mission also contributed to its success. Both government and industry in China recognise the need to upgrade their skills if the country's financial sector is to continue to develop, expand and meet the challenges presented by joining the World Trade Organisation and competing in a global marketplace.
"The high regard with which Australia's financial services expertise is held ensured fruitful meetings with top officials from organisations such as the State Economic and Trade Commission, the Shanghai and Shenzhen Stock Exchanges, the Beijing and Shanghai Universities of Finance and Economics, and Shenzhen University. These meetings provided insights into China's developing financial sector and helped mission delegates identify areas where they might address China's skills needs.
"The mission achieved its goal of raising Australia's profile as a key provider of financial services education and training in the world's most significant emerging financial centre."
Background:
The China mission was the initiative of Axiss Australia, the Federal Government agency positioning Australia as a global financial services centre. It was coordinated by the Australian Financial Services Training Alliance, with assistance from Austrade in China, and included representatives from the Australian and New Zealand Institute of Insurance and Finance, the Australian Securities and Investments Commission, Axiss, CPA Australia, Monash University, the National Insurance Brokers Association, the Securities Institute and TAFE Global.
Australia's excellence in finance education and training is well recognised throughout the region. 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.
