Beijing, October 16th, 2009 Citibank (China) Co., Ltd. (“CCCL, in partnership with the Learning Society, the Beijing Dongcheng District Education Bureau, Mc-Graw Hill Education and Better Education, announced the launch of “Making $ense of Moneyin Beijing today. Sponsored by Citi Foundation, this financial education initiative provides financial education for middle school students - raising their awareness of personal finance and helping them to become financially responsible students with a long-term economic vision.
Based on “Making $ense of Money the first book of its kind dedicated to helping teenagers aged 15-17 gain a better understanding of financial concepts, the initiative will be introduced to 17 middle schools in the Beijing Dongcheng District. This valuable enrichment program will benefit over 10,000 students this year. A launch ceremony was held today at the No. 2 Middle School. In attendance were Ricky Lin, Director of Retail Banking of CCCL, and officials from the Municipal and Dongcheng District Education Bureau.
Mr. Anand Selva, Executive Vice President of CCCL said, “Financial education raises the quality of life for individuals and families, and strengthens communities around the world. This is especially true for young people, who, if financially knowledgeable, have a much better chance of attaining financial security and achieving their goals as they move through life. A healthy financial education system can also promote the robust economic development of an entire society, and Citi is glad to be playing a role in this effort.
Mr. Niu Xiaohua, Principal of Beijing No. 2 High School said, “We are pleased to partner with Citi on this meaningful initiative, which is consistent with the focus on quality education of the primary and high school students. We believe it will become a good addition to the existing curriculum and prepare our students well for future.
Written in Chinese and English, “Making $ense of Moneyfocuses on financial knowledge such as the importance of personal financial planning, time value of money, balancing income versus expenses, consumption, cash value, foreign exchange, stocks, bonds, funds, personal financial credit, credit cards, property purchases, insurance, and the financial system. To further illustrate the principles conveyed in the book, Citi is partnering with Better Education, a non-profit group specializing in educational projects throughout China. Together, they will produce lectures that depict scenarios reflecting the book’s lessons through which teachers can guide their students. The book will be provided to the students free of charge.
Beijing follows Shanghai as the second city in China to introduce this initiative. Last year, the program received overwhelming feedback from participating schools, teachers and students. Through interactive lectures, discussions, as well as heated debating competitions, the program inspired high school students to pay close attention to economic issues, to form their economic vision and to gain a stronger understanding of their personal finances.
Funded by the Citi Foundation, the “Making $ense of Moneyprogram is part of Citi’s financial education series in China, promoting financial literacy among people of all different ages. Following Shanghai and Beijing, Citi plans to roll out the program in other major cities in China including Tianjin, Guangzhou, Shenzhen, Chongqing and Hangzhou.
“Making $ense of Moneywhich originated in Singapore in 2003, was approved by Singapore’s Minister of Education and implemented in all high schools in 2004. The program was then successfully introduced to Hong Kong and Malaysia. To date, nearly 200,000 students have received the training in these three countries and regions.
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