Peking U and Longtop Establish Financial Risk Management Lab in China
- By Dian Schaffhauser
Peking University in Beijing has teamed up with Chinese software firm Longtop Financial Technologies to establish a financial risk management laboratory in the School of Mathematical Sciences. Longtop develops applications for the financial services industry in China. The mission of the lab is to research and develop models in financial risk management primarily for the banking, asset management, and insurance sectors. Research areas will include market, credit, and operational risk models and applications for commercial banks, as well as actuarial models and applications. The research center will also provide technological support to Longtop's R&D and training to its engineers in the risk management area.
"Working together with Longtop we can apply our research in risk management into industry," said Wu Lan, chair of the Department of Financial Math. "And the lab will provide a practice training base for teachers and students. So we hope to make contributions to the sustainable growth and long-term stability of China's financial services industry."
"Risk management is a new area in China that is expected to grow exponentially in the coming years because of its critical importance to financial institutions nationwide," added Wei Dong, VP of Longtop. "Teaming up with Peking University, one of China's most renowned research institutions, will improve our competitiveness in this growing market."
Dian Schaffhauser is a writer who covers technology and business for a number of publications. Contact her at firstname.lastname@example.org.