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Grade A Economics Field Trip
2017-04-05

[SCIE web news, April 5th, 2017] It was 14:30 on 31st March. It was drizzling and the air was a little bit cold. The 2017 SCIE Option Talk just finished and the confusion on courses’ choice still hang in our heads. 27 A1 students, together with 3 A2 prefects, went on the bus towards Qianhai FOSUN assets management limited company. It was the second trip organized by the commerce department in this academic year. Henry contacted the company while Chloe and Chet took the lead. The aim of this activity was to broaden students’ horizon and to enlarge students’ knowledges, as well as to provide opportunities for students to establish expectations about their own futures.       

 

After arriving, we firstly visited the offices in the company of Miss Mingzi and enjoyed some snacks and drinks prepared by their staffs. What’s next was the main part, a speech offered by the FOSUN group. Since the space was limited here, we moved to the Jingyinghui conference room upstairs. We took our seat and listened, even some of us took out pens and papers to write down something important.

 Undoubtedly, the first part was the introduction of the FOAUN Group, including the history, scale and investment philosophy of the group.

 The second part was conducted by the president of FOSUN Company, Mr. Yang. He stated several cases of investment, in which the contents were quite comprehensive. I just gave one example here. Several years ago, FOSUN thought the textile industrial was promising. After analyzing about the user and the supply chain, they decided to fully invest into the top company of this industry – the Red Collar Intelligence. Because it had a promising future by virtue of its special business mode, that is, the internet permeated into every business link, from information collection to entering into the market, in which prices were brought down by reducing intermediary businesses. At the same time, data about market was collected for further development. Under the reasonable running by the both sides, the investment won a big success. Mr. Yang also told us about the art of business from the perspective of a practitioner, and also he analyzed how to find opportunities in the market and make up needs as well as how to increase the sales rate in an original price. He even improved the investment risk control to a level of life and told us that we should see failure as fortune and learn lessons from it.

 

We entered the interactive part half an hour before the end. Everyone raised questions actively, and Mr. Yang answered our questions one by one with his profound knowledges and rich experiences. However, the time was limited, so there were only three students could join this part. But from their questions and Mr. Yang’s answers, we got some answers on our doubts on the economic system. The common saying is good: you can lead a horse to water, but you can't make him drink. We got this good experience, but the remained questions needed to be solved and verified in the future.

I am sorry for that I only can provide some excerpts of the Q&A part, which are as follows:

Eric: Dear Mr. Yang, how do you think about influence of educational background on entering the investment business in the future? 

 

Mr. YangEducational background is valued as important in the investment industry. If you are lucky enough to be enrolled by a famous university for undergraduate study, you may have a natural advantage and you can consider to start your career earlier. If you cannot be admitted by a famous university, you may need to think cautiously and you may can get a master degree to rise your own competitiveness. Apart from this, I think if you can enter the financial industry to work for a few years, it would be helpful for you to start your own business in the future.

David: Do the investment banks value the prospect of the enterprise or the ability of the entrepreneur?

Mr. Yang: Business comes first, but people is the key. A good idea is just a starting point. The executive capability is the key to strive for venture capital. For example, the new rising bike sharing industry. It is absolutely an extremely good market but it also come with fierce competitions. OFO, Mobike and so on emerged one after one. To them, they can only survive by defeating their rivals in a sheer speed with helps from their investors. And this, it is necessary for the entrepreneur to have a strong ability of running their capitals.

After the interaction part, Mr. Yang gave a high assessment to SCIE students – “having a complete thinking mode and a strong basis.” And he wish sincerely that everybody can have a bright future “in the best of times”.

In happy laughters and cheerful voices, we got on the bus. We went back to our school, which is in a corner of the Shuiwei village, in a heavy rain. Miss Chloe summarized and said, “This is an economics field trip would make you feel regretful if you miss it. In this field trip, there are not only professional investor analyzing classic cases and also insightful explanations about free trade V.S. protectionism. And everyone can get access to information failure through authentic sample!”

 

Report and PhotoDeclan

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