From 30 June to 13 July 2024, we – ten students from different year groups at the Bundesbank's University of Applied Sciences – participated in the first exchange programme in China since the start of the pandemic. Specifically, we attended the Financial Leaders of Tomorrow Summer Program run by the Tsinghua PBC School of Finance in Beijing. A total of 50 students from 23 different countries took part, which made for an even livelier exchange of views. The aim of the programme was to gain a deeper insight into the Chinese economy and to learn more about the country's society and culture. 

We began with a guided tour of the campus at Tsinghua University. The first thing that struck us was the size – it was like an independent “city within a city”, with supermarkets, sports facilities, various canteens and a souvenir shop. We learned that the campus parallels the old “danwei” system. This is a kind of government-controlled work unit where people work and spend most of their daily life – essentially a kind of separate, self-contained entity. Lectures, a cultural programme and company visits followed. The lectures were given by professors at the university and high-ranking industry experts. They taught us a lot about Chinese micro- and macroeconomics, the insurance and banking sector, the capital market, green finance and fintech, intercultural communication and social structure, and the new Silk Road. There were sufficient opportunities to debate and exchange ideas with the lecturers both during and after the lectures. Contrary to all the stereotypes, the exchanges with lecturers and local students were very open and constructive. Company visits provided us with practical elements and we appreciated having the opportunity to visit Lenovo’s headquarters, the Beijing Green Exchange and the Chinese Merchants Bank.

The cultural programmes that took place between the lectures were particularly impressive. First, in small groups we were able to try our hand at the traditional art of scissor cutting. This involves folding and cutting a thin sheet of paper in such a way that a special and individual pattern emerges. A steady hand is needed in order to cut detailed patterns. We were also introduced to Chinese calligraphy. Once again, we were given the opportunity to try out our artistic skills and design a fan with Chinese characters. It was not easy to hold the brush properly and to control it with a slow movement of the wrist. Finally, we were introduced to the Chinese martial art kung fu. A sequence of punches and kicks were demonstrated for us to try and copy. The cultural exchange was topped off with the “Cultural Night”. In a casual, large and well-organised group, many of the students presented their home countries, which, besides Germany, included Uzbekistan, Singapore, Argentina, India, Thailand and South Africa.

Of course, we also had time for sightseeing. On three of our free days, we visited impressive sights such as the Forbidden City, the Summer Palace and Tiananmen Square. We were amazed by the Great Wall of China. The construction work involved and its size are remarkable and hard to imagine when considering the conditions prevailing at that time. The hot temperatures of well over 30 degrees and the high humidity meant that our sightseeing tours stretched us to our limits at times. The language barrier provided another challenge, as we were unable to communicate in English with most locals. Fellow students from Hachenburg who spoke Chinese, as well as various translation apps, helped us a lot and we were able to communicate without any further difficulties despite the lack of individual language skills. We will miss the Chinese food as the choice was huge. We enjoyed trying everything and it always tasted delicious.

Overall, the programme was an excellent opportunity to get to know Chinese society and China’s economy from a different perspective. In addition, we were able to establish contacts with other students from all over the world and with lecturers. Our conclusion: With this exchange programme, the Bundesbank’s University of Applied Sciences offers its students a truly unique opportunity to broaden their individual horizons.

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© PBC School of Finance

© PBC School of Finance

© PBC School of Finance

© PBC School of Finance

© PBC School of Finance

© PBC School of Finance

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