It was only the hardiest adventurers who took up the chance to learn about the mysterious East when China first opened its doors to foreign students in 1950. Now, in an age where China is an economic powerhouse, foreign students have traded their backpacks and guidebooks for a suit and tie as droves of experienced professionals are seeking admission in Chinese business schools.
BEIJING, March. 24 (Xinhuanet) -- It was only the hardiest adventurers who took up the chance to learn about the mysterious East when China first opened its doors to foreign students in 1950. Now, in an age where China is an economic powerhouse, foreign students have traded their backpacks and guidebooks for a suit and tie as droves of experienced professionals are seeking admission in Chinese business schools.
Driven by the huge gap in the supply of internationally trained managers five years ago, thousands of foreign students from the United States and Europe are enlisting in Chinese MBA and EMBA programs in an effort to get an edge in China's increasingly competitive global business field.
But, unlike six years ago, the focus for business schools is no longer just learning about China. The goal posts have moved as rapidly as the economic tides have shifted.
"We are no longer the 'how to do business in China' supplier, we are the 'how to manage in fast growth markets' supplier to companies on a global basis," said John Quelch, vice-president and dean of the China Europe International Business School based in Shanghai.
With China's Ministry of Education looking to attract more than 500,000 international students by 2020, the number of foreigners seeking elite MBAs akin to those obtained at internationally renowned schools like Harvard or Oxford is showing promising growth.
Leading the pack is Quelch's CEIBS. In 2009, Forbes ranked the CEIBS business MBA program as the eighth among the top 10 non-US two-year MBA programs in the world.
CEIBS has seen its percentage of foreign students almost double from 20 percent to 39 percent over the past 5 years. Other top business schools in China, like Fudan University's EMBA partnership with Washington University and Tsinghua University's MBA program with the MIT Sloan School of Management have also seen positive results.
Detailed in the National Outline for Medium and Long-Term Education Reform and Development (2010-20), the Chinese government is making large endeavors to educate the next line of business leaders.