China's futures market, which started in 1990, has gone through phases of piloting, consolidation, standardized development and rapid expansion, and is now celebrating its 20th year.
With its *** with the emergence and growth and expansion of the futures industry talent, and this talent system and the capital market has a significant difference with other systems. Its main body is a "family"-style tree structure like network, many related companies share more futures company executives, central enterprises derivatives experts, exchange regulators "think tank"...... The formation of the futures industry key nodes of the luxuriant branches and leaves, its convergence is rooted in the Beijing Institute of Technology (hereinafter referred to as "Bei Gongshang") this piece of fertile soil.
The famous economist Tong Wansheng and his disciples, Chang Qing and Hu Yu Yue, have created the largest futures talent cultivation base in China at Bei Gongshang***, dominating the local cultivation pattern of China's derivatives talents. The talents and research delivered by NICCI have become the main force driving the development of the futures industry, and the ever-growing futures industry also provides employment and growth platforms for NICCI graduates, and the practicing alumni will also bring back the resources and questions. The alumni will also bring back resources and questions. Such a virtuous cycle keeps the circle fresh and hot.
The largest private gathering of China's futures industry is often associated with BITC.
The gathering of more than a hundred people takes place twice a year, and it brings together the biggest names in the futures industry, ranging from executives of futures companies to derivatives experts from centralized enterprises and think tanks of exchange regulators, and there is only one thing that brings all these people together: all of them have studied at the Institute for Securities and Futures Studies (ISFS) of Beijing Institute of Technology and Business University. "The first step is to learn from the masters.
Dean Hu Yu Yue is the convener of these gatherings. "Gathered once in June, came more than 80 people, Teachers' Day and more than 40 people party. There are at least two gatherings of the size of hundreds of people every year." Hu Yu Yue said.
Beijing is the most frequent gathering of alumni, are immersed in the futures industry alumni meet more frequently. "There are monthly gatherings, the big hundreds, the small 20 or 30 people, people come back to school to see teachers, see classmates, tightly linked together, is a circle." Institute Associate Professor Gao Yang said.
In Hu Yu Yue's concept, classmates are a peripheral expanding, mobile team, frequent gatherings to make this mobile team vertically linked. "Huang Hui, general manager of COFCO Futures, all the classmates know him, although he does not necessarily know the others, but the classmates affectionately call him senior. Huang Hui often brings back problems encountered in practice and discusses them with the younger students."
Huang Hui, who has just been elected vice president of the China Futures Industry Association, is the first batch of graduates from the direction of futures market of Beijing Technology and Business University. Today, his younger siblings have also become middle and senior managers of major futures companies, such as Yu Mangguo, deputy general manager of Jinpeng Futures; Cong Xiaohu, chief assistant of Hongyuan Futures; Qiu Hanyi, chief assistant of Jingyi Futures; Li Hongtao, general manager of the business department of Jingyi Futures; and Chi Hongtao, general manager of the business department of Nanhua Futures.......
Hu Yuyue introduced The graduates of the institute are almost all stationed in financial towns such as Beijing, Shanghai and Shenzhen. Current students have also entered large futures companies, futures departments of central and foreign enterprises, as well as exchanges, futures industry associations and other organizations because of the school's contacts and resources in the industry.
"Many of the post-80s students have now become general managers of business departments." Hu Yu Yue said.
Because the Institute teaches "close to the market, close to the industry, close to the cutting edge", and set up a futures laboratory to familiarize students with futures trading and other pragmatic content, many students will be investing as their aspirations.
"Students seem to have a lot of enthusiasm for investment and like some places where they can do futures trading." Another important flow of graduates, according to Hu Yu Yue, is into centralized enterprises to do derivatives trading.
Alumni of AVIC, COFCO, China Textile, and Minmetals ...... Research Institute are stationed in key locations, operating billions of dollars in foreign derivatives markets in and out every day, and designing hedging programs. 93 Zhu Zhang, deputy general manager of COFCO Jiahai International Trading Company; 01 Pei Yong, deputy general manager of China Textile Group Cereals and Oil Import and Export Co. Ltd., deputy general manager ...... Hu Yu Yue casually listed more than ten students engaged in derivatives trading in the central enterprises.
In addition, the relevant leaders of the Futures Department of the Securities and Futures Commission called the Institute for the regulator's "think tank". This "think tank" of various topics on the superstructure of China's futures market layout and the establishment of rules plays a crucial role in the impact. "The CMA gives us more than two topics every year, and a lot of the research and teaching materials of the Futures Department of the SFC are also handed over to the institute." Hu Yu Yue said.
"Post-master's mobile station"
An important part of the alumni circle gathering is that practicing alumni bring back to the school the problems they encountered in their work to solve them. China's futures market is still in the "adolescence" stage of exploration, rapid development, but also often appear some new problems, the Institute alumni basically and China's futures market synchronization growth, and often bring new topics to the party.
Alumnus Xu Xin graduated at the age of 23 and worked at the Institute of Rural Economy of the Ministry of Agriculture, and at the age of 24, he began to independently undertake the project, because he was young and did not have an assistant, Xu Xin often returned to his alma mater with the project, looking for the "wisdom of the masses" in the circle of the **** with the efforts of the project by a number of parties to be recognized.
This model is gradually fixed, alumni joked that the Institute has a "post-master's mobile station", the gathering of groups of three or five is the carrier of this unofficial "mobile station".
Alumni who are doing investment and management work outside the school are often invited back to the school to give lectures by Hu Yuyue, "usually arranged in the evening, but many people come to listen to it because it's all the closest to the market, the closest to the industry's information."
Alumni who do derivatives trading in central enterprises and foreign enterprises bring a lot of econometrics topics, and many students have great interest in modeling, programmed trading and structured products.
"Students are starting to move towards senior talents who trade derivatives abroad, and this characteristic is becoming more and more obvious and the team is getting bigger and bigger." According to Hu Yu Yue. Alumnus Zheng Qiang has been engaged in foreign investment for many years in institutions such as Zhongguo, and later published a book called "Trader Chicago", which sold very well.
Traceability
The reason why the northern industrial and commercial circle can become the mainstay of the futures industry, and the school's education is directly related, which can not be left out of the family head of this derivatives family - Tong Wansheng.
"The two most important domestic derivatives talent base is the Beijing University of Technology and Business and Agricultural University, and the leaders of the two bases are disciples of Mr. Tong Wansheng." A large futures company executives said.
Chang Qing is the director of the Center for Futures and Financial Derivatives Research at China Agricultural University and a subject leader.
People who know Tong Wansheng say she is a person with extremely sharp senses, grasping the pulse of the times very accurately.
With the gradual deepening of reform and opening up, the pricing system under the planned economic system began to fail. The pricing function of the futures market attracted the attention of Tong Wansheng, who studied "price science" at the Beijing Business School, and she turned the rudder and sailed to a completely new field.
In May 1988, the State Council decided to conduct a pilot futures market; in October 1990, China's first commodity futures market - China's Zhengzhou grain wholesale market was born. China has since begun to have derivatives, to the modern financial market a big step forward. It was also at this time that Tong Wansheng just took in the first batch of students studying the futures market, including Chang Qing, Hu Yu Yue, Huang Hui ......
Tong Wansheng's students, part of them stayed to continue to engage in theoretical research on the futures market, of which Chang Qing, Hu Yu Yue, and Tong Wansheng joined hands to found China's first and the largest training base for futures talents; the other part of them stayed to engage in theoretical research on the futures market. The other part of the students went out and became the earliest group of industrialists in the futures market with the background of science and engineering.
For this innovative discipline of futures, the school makes full use of all kinds of resources to solve the problem of teachers: first of all, it is the cooperation with the School of Economics, the School of Accounting, the study of finance, capital markets and other aspects of the well-known experts, futures research into a larger blueprint; secondly, it is to open up the circle, in the 90's, Du Yan, Tao, Wu Shuo, Gao Gao Sheng, Wu Shuo, Wu Shuo and other experts. Wu Shuo, Gao Gao Sheng, He Qiang, Ren Xingzhou, Liao Yingmin and other well-known scholars almost every year to guide the defense of postgraduate students at the Beijing Institute of Technology and Business University, most of which are also hired as part-time professors of futures; and the China Securities Regulatory Commission Futures Department, China Futures Association, the four futures exchanges and a number of large futures companies of the expert leadership is also appointed as part-time professors, often come to the school for professional exchanges.
The extension of the faculty network provides not only a broad vision, but also a wide network of industry contacts.
In June 1999, the Beijing Institute of Light Industry merged with the Beijing Business School to become the Beijing Institute of Technology and Business University, and the Securities and Futures Institute came into being, with Hu Yuyue as its director. From the early 1990s to date, this futures talent base has recruited 23 sessions of **** more than 120 graduate students, on-the-job postgraduate students, MBA and other training of 200 master's degree students. 2001 began to set up the direction of the futures market in the undergraduate program, the North industrial and commercial to the market delivery of practical talents is accelerating the pace.
Beijing Technology and Business University (BTBU) is a major multidisciplinary university in Beijing, which was founded in June 1999 through the merger of Beijing Institute of Light Industry (BILI) and Beijing Business College (BBC), and the merger of Beijing Mechanical Management College (BMMCC).
＞＞＞Professional Characteristics in Investment
The Institute of Securities and Futures was founded in 1999, and the Department of Finance has built the most advanced securities, futures and foreign exchange investment laboratory in China. It focuses on the use of econometrics in derivatives investment, mathematical modeling, and programmed trading.
＞＞Famous Tutors
Tong Wansheng, Hu Yuyue
＞＞Distinguished Alumni
Huang Hui, General Manager of COFCO Futures, Vice President of China Futures Association Zhu Zhang, Deputy General Manager of COFCO Jahai International Trading Company Yu Mangguo, Deputy General Manager of Jinpeng Futures