University announces £60m of new initiatives with China during PM's visit

Professor David Greenaway, Vice-Chancellor of The University of Nottingham, who was in China this week as part of the Prime Minister's trade mission to the country, has announced three projects worth over £60m, which the University is launching in China. A unique institute to train financial specialists in Guangdong - The first development, which was revealed at a signing ceremony in Beijing, is the creation of the new Guangdong-Nottingham Advanced Finance Institute (GNAFI). GNAFI is being developed in conjunction with the Guangdong University of Finance to create a new Institute which will train up to 2000 Chinese financial specialists each year. It will provide advanced training to senior managers from industry, commerce, financial institutes and government organisations. The Institute will be located in a new, state of the art building, funded by the Guangdong regional government. It is anticipated that income from the GNAFI will be in the region of £10m per annum once it is established. A new £25m academy for Marine Technology - The second initiative is the creation of a new £25m International Academy for Marine Economy and Technology at the University of Nottingham, Ningbo, China (UNNC).