Historical Overview

The Department of Finance and International Economics & Trade at the Business School, University of Shanghai for Science and Technology (USST), boasts a rich history dating back to 1932, when Hujiang College of Commerce (also known as City Central College of Commerce) was established by Dr Liu Zhan'en, president of Hujiang University. The college offered programs in Finance and International Economics and Trade.

The Finance major traces its origins to the Banking Department of Hujiang College of Commerce. In 1988, alumni from Taiwan, Hong Kong, and Shanghai established the City Central College of Commerce within the Shanghai Mechanical Institute. The Finance Teaching and Research Section was established in 1989, followed by the Department of Finance in 1991, which began admitting undergraduates in Finance the same year. In 1995, a graduate program in Finance was initiated in cooperation with Syracuse University in the United States. In 2005, the university was authorized to grant Master's degrees in Finance. In 2014, the Master of Finance (MF) professional degree was approved. In 2018, the Finance program received accreditation from the AACSB (Association to Advance Collegiate Schools of Business), placing it among the few nationally recognized finance programs with AACSB accreditation.

The undergraduate program of the International Economics & Trade major was established in 1998. Then three academic master's degrees were established with specializations in International Trade, Regional Economics, and Industrial Economics. In 2010, the Master of International Business (MIB) professional degree program was approved.

In 2008, the Applied Economics discipline (Economic System Operation and Regulation) within the department was designated a key discipline by the Shanghai Municipal Education Commission.

Academic Programs

The department currently offers two undergraduate programs (Finance, International Economics & Trade), two professional master's degree programs (Master of Finance, Master of International Business), and one academic master's degree in Applied Economics with specializations in Finance, International Trade, Regional Economics, and Industrial Economics.

Faculty

The department prides itself on a highly qualified faculty team consisting of 42 members, including 21 senior-level and 21 mid-level faculty members, with 39 holding doctoral degrees from prestigious institutions worldwide. Ten faculty members earned their Ph.D. degrees from universities including Boston University (USA), University of Birmingham (UK), University of New South Wales (Australia), Tokyo Institute of Technology (Japan), University of Lyon (France), University of Otago (New Zealand), Waseda University (Japan), University College London (UK), Kyushu University (Japan), and Niigata University (Japan). Additionally, ten faculty members have served as visiting scholars at renowned international universities such as University of Missouri-St. Louis (USA), University of Modena and Reggio Emilia (Italy), Arizona State University (USA), Karlsruhe Institute of Technology (Germany), Humboldt University of Berlin (Germany), University of Michigan (USA), University of North Carolina at Chapel Hill (USA), and University of Alberta (Canada). Approximately 50% of the faculty have international academic experience.

Research and Teaching Achievements

In recent years, faculty members have undertaken numerous national, provincial, and ministerial-level projects funded by organizations such as the National Natural Science Foundation, National Social Science Fund, Humanities and Social Sciences Fund of the Ministry of Education, Shanghai Social Science Fund, and China Postdoctoral Science Foundation. They have published 462 papers in authoritative and core journals indexed by CSSCI, SSCI, and SCI, including Economic Research Journal, Journal of Financial Research, Journal of International Finance Studies, Journal of Finance and Economics, Comparative Economic & Social Systems, China Economic Quarterly, The Journal of Quantitative & Technical Economics, Economic Perspectives, World Economy, Systems Engineering Theory and Practice, Journal of Money, Credit and Banking, Journal of Financial and Quantitative Analysis, Journal of Banking & Finance, British Journal of Management, European Financial Management, Global Environmental Change, International Review of Financial Analysis, Energy, Journal of Cleaner Production,Economic Modelling、Cities、Technological and Economic Development of Economy and International Journal of Environmental Research and Public Health. Faculty members have also published 36 monographs and edited or co-authored 38 textbooks.

The Finance course has been recognized as a national first-class course. Faculty have completed seven industry-university cooperative projects under the Ministry of Education. The department has received recognition for two Shanghai Excellent Courses, six Shanghai Key Courses, one English-taught demonstration course for international students in Shanghai universities, one full-English course for international students at the university level, one exemplary all-English first-class course at the university, one model ideological and political theory course, two high-quality online courses, and two first-class blended online-offline courses.

Faculty members have also received three first-prize awards and one second-prize award for outstanding teaching achievements at the university level. The department has been honored with several collective and individual awards, including the University “March 8 Red-Banner Collective,” Shanghai Outstanding Achievements in Philosophy and Social Sciences Award, Jilin Outstanding Achievements in Philosophy and Social Sciences Award, Shanghai Talent Cultivation Award, Third Prize in the Shanghai Young Faculty Teaching Competition, Shanghai Education System “March 8 Red-Banner Collective,” Shanghai Women’s Civilized Post, and the title of “Shanghai Super Postdoctoral Fellow.”

Training Objectives

The Finance major emphasizes industry-university integration, moral education, and the strategic goal of financial power, supporting the development of Shanghai as an international financial and innovation center. Leveraging USST’s strengths in engineering and the rich tradition in systems engineering from the Business School, the program aims to produce versatile, innovative, and applied finance professionals proficient in financial theory, mathematics, and computer applications. Graduates are equipped to utilize AI, big data, and block chain technologies to solve practical financial challenges and possess strong professional ethics and an international perspective, and be compound, innovative, and application-oriented professionals in finance.

The International Economics & Trade major aligns with China's Belt and Road Initiative and the requirements of foreign trade development under the country’s deepened openness strategy. Leveraging the geographical advantage of the Yangtze River Delta and Shanghai, and drawing on the university's strengths as a science and engineering institution, the program aims to cultivate high-quality professionals in international economics and trade who possess international vision, systemic thinking, innovative spirit, teamwork awareness, and a strong sense of social responsibility. They will have a solid foundation in economic theory and the practical strengths of a science and engineering background, be well-adapted to the development trends of intelligent modern technologies such as Internet+ and big data, and demonstrate all-around development in morality, intelligence, physique, aesthetics, and labor, enabling them to perform various tasks with high quality in the relevant fields.

Distinctive Talent Cultivation

-Industry-University Integration: The department maintains a strong commitment to industry-university integration through partnerships with financial institutions and fintech enterprises such as China Construction Bank, Bank of China, and Xiangcai Securities. Notable collaborations include the jointly established “CCB Financial Innovation Class” with China Construction Bank and the “Bank of China Wisdom Valley” industry-university practical training base with Bank of China. These initiatives aim to cultivate interdisciplinary and practice-oriented finance professionals.

-Learning through Competitions: To enhance students’ practical skills, the department actively promotes competition-based learning. It regularly organizes and participates in high-profile contests such as the “ICBC Cup” National University Student Fintech Innovation Contest and the National Business Elite Challenge in International Trade. Faculty members provide consistent guidance, and students have earned nearly 200 awards over the past five years, including national grand prizes. The department also leads the establishment of the USST Innovation Practice Base for the China Graduate Fintech Innovation Contest, hosts the campus-level competition, and selects outstanding students to represent the university at the national level.

-Internationalization: The department promotes international education through specialized “International Classes” featuring small-group instruction and fully English-taught core courses. This model integrates internationalized faculty, curriculum, student development, and pedagogy, with an emphasis on blending global perspectives and local relevance.

In addition, the department collaborates with Brest Business School (BBS), France, offering a “3+1” dual-degree program in areas such as International Management. Students who complete the required coursework and earn the necessary credits may receive a bachelor’s degree from BBS. After credit recognition in China, they may also be awarded a bachelor’s degree from USST. This initiative marks a pioneering effort in international undergraduate education cooperation.

Career Opportunities

Graduates in Finance typically pursue careers in commercial banks, securities and investment firms, insurance companies, and trust investment companies, performing various financial services or corporate finance roles. Graduates in International Economics & Trade find opportunities in customs, foreign and multinational corporations, and financial institutions, engaging in international trade and comprehensive management roles.