China News: CFA candidates promising
CFA candidates promising
The growing number of CFA candidates in China will reach 4,935 this year, a trend expected to continue at a strong pace, according to the CFA Institute, the global professional association that administers the Chartered Financial Analyst (CFA) curriculum and examination programme.
This figure is compared with a mere 135 candidates in 2000.
The 2005 June exam results show the outstanding potential and performance of CFA candidates in China.
The country's average passing grade for all three levels of the examination was 57 per cent, among the top performance rates globally, said Jan R. Squires, the newly appointed managing director of CFA Institute's Asia-Pacific region.
CFA Institute opened its Hong Kong office in 1997. It has two other representative offices in London and New York.
He said CFA recognition is building rapidly in the country.
Since 1986, 304 enterprises in the Chinese mainland have raised HK$900 billion (US$115.41 billion) through Hong Kong.
"So, the importance of having qualified finance professionals in the mainland to run, audit, invest in, and help list these companies cannot be underestimated," Squires said.
He said the association aims to strengthen the Hong Kong office's role as a bridge between the emerging mainland market and the international market.
The institute will work to meet the needs of its members and the investment community, Squires said.
"The CFA designation matters to investors and financial services companies as a demonstration of a person's strong commitment to the highest standards of ethics, education, and professional excellence," Squires said.
"We have a large, active base of CFA Institute members and candidates throughout the Asia-Pacific region," Squires said.
"The CFA designation continues to gain recognition and appreciation in all markets. Working closely with our member societies in the region, we're in a great position to participate in the further development of Asian financial markets."
On average, CFA candidates take four years to pass the three required exams, which cover ethical and professional standards, securities analysis and valuation, financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, and performance measurement.
"Candidates complete the programme because they see the value that the CFA charter brings to their professional lives," Squires said.
Employers, in particular, see value in the CFA programme because it is cost effective, globally relevant, and enhances the firm's reputation, he said.
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