China Construction Bank Officially Launches Fintech Academy in Suzhou

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One of China’s big four state-owned lenders has just launched a new “fintech academy” in the historic Jiangsu province city of Suzhou.

The sign for the China Construction Bank University Suzhou Fintech Academy (建行大学苏州金融科技学院) – also referred to as the “Suzhou Finance and Insurance Academy” (苏州金融保险学院) was officially unveiled at a ceremony held on 14 May 2019.

According to China Construction Bank (CCB) the Suzhou Fintech Academy will engage in exploration and implementation in the areas of fintech development and industry and educational integration.

“It is very difficult for traditional forms of education to support the needs of modern finance with regard to financial professionals,” said Tian Guoli (田国立), CCB head. “We urgently need to expand and integrate with scientific research academies and specialist colleges to engage in joint research.”

CCB hopes that the new fintech academy will serve as an innovations incubator and testing centre, adopting an “educational model that combines theory and practice,” as well as establishing education and industry alliances and conducting high-end forums.

Lei Ming (雷鸣), head of the fintech academy, said that the CCB University is both a training base for the bank’s staff as well as a key platform for the integration of industry with education.

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