A visitor reads a bulletin at the IfFP Wealth Management Training Center which opened on March 7 in the China (Shanghai) Pilot Free Trade Zone. [Photo/xinmin.cn]   

The IfFP Wealth Management Training Center, the first foreign-funded vocational training institute of financial services in China (Shanghai) Pilot Free Trade Zone, opened on Mar 7.

The center is operated by IfFP Professional Skills Training (Shanghai) Co Ltd, a vocational training organization founded in 2018, and financed by Institute for Financial Planning which was founded in 1995 and headquartered at Zurich, Switzerland. The institute is mainly engaged in the training on finance and wealth management and financial planning.

Zhong Ke, general manager of IfFP, explained that there was a huge market for wealth management in China and it is hoped that the center will combine advanced ideas in Switzerland with local Chinese resources.

The rapid development of economy in China in recent years has boosted the private wealth management market in the country. To capitalize Shanghai has released measures to attract more financial institutes to settle in the city and promote the opening up of financial markets. The foundation of the center is expected to introduce more advanced wealth management skills from overseas, thus improving the country's "soft power".