China’sfirst “Financial Procurement Innovation Lab” waslaunched by CUFE Business School and JD.com etc.
November 22,China’s first“FinancialProcurementInnovation Lab”was formallylaunchedat the “9th(2018) ChinaFinancial Procurement Summit Forum” sponsored by China Financial CentralizedProcurement Network (CFCPN).CUFEBusiness School,CFCPNand Business of Jingdong(B.JD.com) signed the MOU on the collaboration of the “FinancialProcurement Innovation Lab”.The three parties will jointly set up a working groupto promote research and professional developments.
Dean Wangsigned theMOU on behalf ofCUFE Business School
Group picture ofthe representatives from all parties
ProfessorWang Ruihua, Dean ofCUFE Business School,ProfessorPei Yu, VP of Nanjing Audit University, Professor He Hongfeng, Deputy Dean ofNankai Law School, Dr. Wang Xiaoguang, Senior expert in China governmentprocurement and financial procurement, Mr. Lv Xiang from Bankof Communications, Ms. Yan Hui from CPIC, and Mr. Li Jing, Vice GM of Key ClientsDivision, JD.com were presented the launching ceremony of the “FinancialProcurement Innovation Lab”. Dean Wang, Dr. Wang Xiaoguang, and Mr. Li Jing presidedover the Unveiling Ceremony of the “Financial Procurement Innovation Lab”.Associate Professor Geng Yong, Professor Yan Nina from the Department of SupplyChain and OM, CUFE Business School, attended the signing ceremony of the MOU.
Launching Ceremonyofthe“Financial Procurement Innovation Lab”
Dean Wanggave aspeech at the launching ceremony of the“FinancialProcurement Innovation Lab”. Dean Wang said that, the “FinancialProcurement Innovation Lab” focuses on the future innovation of financialprocurement; and mainly studiesthe access mechanism of e-commerce procurement in the financial industry, andresearch projects on financial procurement innovation such as the integrationof three streams into the whole process, enterprise supply chain optimization,intelligent contracts and sourcing, auditing and supervision, ABCmulti-technology integration, etc.; and the publication of financialintelligent procurement industry standards and the financial industryintelligent procurement white paper, in the name of the “Financial ProcurementInnovation Lab”, on order to make clear direction on the standards for the financialprocurementindustry.
Dean Wangaddressingthe meeting
Deepreform of procurement management had been continuing in financial industry. In2018, the China Ministry of Public Finance issued the interim regulations onCentralizedPurchasing Management of State-owned Financial Enterprises, which requiredthe state-owned financial enterprises to establish an internal managementsystem with unified administration and hierarchical authorization. Therefore, moreattention had been paid on how to apply new technology to promote the valueupgrading of financial procurement. Currently, the difficulties in the procurementof financial institutions are the lack of timely updating of suppliers information,the lack of effective evaluation methodology, and riskmonitoring. Those not only made it difficult to monitorthe transaction information and corresponding cash flow for financialsupervision, but also brought great obstacles to the developments of financial industrysuch as financial data analysis.
As acollaborative innovation platform with effective integration of industry,education and research, the establishment of the “Financial ProcurementInnovation Lab” was conducive to promote the development of first-classdisciplines and majors in CUFE Business School, and was conducive to thecultivation of high-level innovative talents with international perspective andexpertise in the frontier of enterprise practice.