While the rest of the world is experiencing hardship, China’s economy manages to grow at a healthy rate, with a most recent increase of 6.9% in 2015, which is a great percentage. China has become a regional center in Asia and top dog in the world economy. With stock markets that compete with those in other countries and banks that are some of the world’s largest like HSBC, China offers some of the best opportunities to succeed in Accounting and Finance.
Along with its economic rise, more and more students are looking to study Accounting and Finance in China due to China’s heavy investment in education and providing its young people with the skills to operate in the international market. The rising academic institutions like Tsinghua University and Peking University, for example, are only two of over thirty schools that are internationally recognized by QS Top World Universities. Among China’s universities’ most popular programs are accounting and finance, the quickest and most straightforward way into a management position at a multinational corporation.
Chinese language ability and cultural awareness are now crucial for young people who are interested in working in Asia. China is the largest trading partner to countries like Malaysia, Thailand, Vietnam, South Korea, and most other Asian countries. It also has deep connections with most European and African countries. Without proper networking and training recognized by the Chinese, it will be much more difficult to find a foothold in the international Asian job market.
International students who wish to study Accounting and Finance in China need first to fulfill the requirements at their Chinese university of choice. Most will require at least basic Mandarin Chinese and English as demonstrated by a passing grade on either the HSK, the TOEFL, or both. Furthermore, academic excellence must be shown through a strong academic record and standardized exam scores. Admissions are extremely selective at the most elite Chinese universities. Once a student from overseas has been accepted to a Chinese university, they must then petition the Chinese government for permission to study in China and obtain a visitor or student visa.
Cost of Studying Accounting and Finance in China
Tuition at the average Chinese university is affordable, only about $2,000 to $4,000 a year, much less expensive than at comparable universities in either the United States or Europe. The cost of living in China is also much lower, about $800 per month depending on your lifestyle. Urban areas tend to be more expensive than rural ones, but you can always adjust your spending according to your personal budget.