Financial education and financial practice

Zhang Weixing

This paper mainly elaborates on matters around financial education and financial practices and the correlation between them. First of all, financial education is derailed with real life. Since the policy of reform and opening-up to the outside world, we have experienced more than two decade of transformation, during which success has basically achieved in education on industry and its practices. However, the results of education on finance is only in the initial stage with therefore enormous weaknesses and loopholes, and what’s lying ahead is that future education in this new field is to stand more tough tests and challenges. Then the focus of the paper directs to the extreme shortage of useful and necessary teaching equipments in education in the fields of investment and finance. Yet we have to take into consideration of the basic national situation when we are judging current education on finance, because the problems we are faced with in the education in this area comes from the disconnection between how the education is given and what’s going on in the country. The theory of “Taking everything in without classification” and the western theory of bookishness are prevalent worldwide. The final point the paper makes is that insufficient backup of financial teaching equipments is the greatest challenge to education in finance. Currently the demand for more financial education equipments has increased substantially over the past 25 years of reform, and thus more students are willing to study finance and economics in universities. We are only in the initial stage of publicizing the usage of financial teaching equipments, so efforts must be made to push forward its further development with consorted efforts from all walks of life.