NEWS RELEASE: China-based B-Schools Gain Ground in Financial Times Annual Global EMBA Ranking; CEIBS Ranks 23rd Worldwide

October 27, 2008. Shanghai campus -- In the annual Financial Times global rankings of executive MBA programmes (EMBA), released today, the China Europe International Business School (CEIBS) was ranked 23rd worldwide. CEIBS has consistently ranked among the world's top 25 EMBA programmes for the past five years in the Financial Times survey. The annual FT survey is widely considered among most comprehensive and best respected of the global business school rankings.

China's first, world's largest EMBA programme

Launched in 1994 as a joint venture between the European Union and the Shanghai government, CEIBS has developed rapidly in its 14-year history -- in size, scope and reputation. Today, CEIBS operates China's first and the world's largest EMBA program, graduating more than 600 students per year. 2008 enrollment is 626 students in the Shanghai, Beijing or Shenzhen programmes.

Reacting to the news that the CEIBS EMBA programme has maintained its ranking of 23rd worldwide for 2008 despite rising competition from leading business worldwide, CEIBS EMBA Programme Director and Associate Dean Professor Liang Neng said: "Given the fierce competition in China's EMBA industry, the fact that CEIBS EMBA has been ranked among the Financial Times 'Top 25' for five consecutive years and in 'Top 50' for eight consecutive years is clear proof that the market and the students have cast their vote of support for the vision and strategy of CEIBS."

MBA, Executive Education also in Top 20

CEIBS other two programmes -- the MBA and Executive Education programmes -- are also ranked #11 and #20 worldwide, respectively, by the Financial Times. This makes CEIBS the only business school in Asia to have all three management education programmes ranked in the top 25.

In this year's FT survey, only nine schools saw all three programmes ranked among the top 25 worldwide.  Besides CEIBS, the other eight are: Wharton, Kellogg, Chicago, Columbia, London School of Business, IMD, INSEAD, IESE). CEIBS is also the only school in Asia that has achieved this distinction.

Because of the continued growth of Chinese economy and the rapid rise of Chinese enterprises, the average profile of a CEIBS EMBA students is rising in credentials, says CEIBS EMBA Programme Director Liang Neng. According to the 2008 FT survey, the average salary of CEIBS EMBA students is US$212,000, 12th highest in the world and higher than the salary of graduates of such leading schools including Duke, Michigan, and IMD EMBA. CEIBS EMBA programme ranked 25th in the worldwide survey in the category of salary increase before and after the EMBA. Another strong point for the CEIBS EMBA programme is the clear "international" character of the school; The school ranks #15 worldwide in terms of percentage of international faculty, and 39th worldwide in percentage international students.

China: a b-school key battlefield

One of the key findings of this year’s EMBA ranking results from the Financial Times is the rise of China-based executive MBA programmes relative to those of the US or Europe. (See Financial Times ranking chart, attached.) Says Director Liang: "Because of the strength of the Chinese economy, management education in China has become a major market, with the promise of even greater future growth. As a consequence, leading business schools all over the world are eyeing the Chinese market, and competition is getting ever fiercer."

In 2008 FT rankings, three new EMBA programs entered China. In 2001, when FT EMBA ranking started, only two of the listed programs were offered in China; this year, 10 of the ranked programmes are offered in China. As evidence of today's tough global competition among b-schools, Director Liang points out that among the 50 top EMBA programs listed by the Financial Times in 2001 FT, 15 have since disappeared from the list.

Reviewing CEIBS' performance over the past 8 years of FT rankings, Prof. Liang is proud that the school now has surpassed such leading schools as Michigan University (28th), UCLA (30th), and Cornell (32nd).

Corresponding to the rising importance of Chinese EMBA market is a relative decline of the attractiveness of EMBA programs in the USA and the UK, said Professor Liang. Excluding "joint programmes" from the FT’s top EMBA programme list, and analyzing single-school programmes, shows that the competitiveness of many US- and UK-based EMBA programs have declined. For example, Northwestern University Kellogg Business School's own-brand EMBA programme fell from rating #10 in 2006, to 13 in 2007, and 21 in 2008, while Duke University's program fell from #9 to #17 during those years; and Cornel University fell from #19 to #33.

The declining attractiveness of US business schools can also be seen in the target schools chosen by GMAT test takers. According to GMAC, the institute that manages GMAT exams, the percent of Asian GMAT takers sending their scores to US-based schools from 2001 to 2007 declined from 75% to 66%.

If this trend continues, Prof. Liang says, it may indicate that the "center of gravity" in management education field is shifting toward Asia and China. "China-based business schools now face a great opportunity but also great challenge, as they must take on the world’s leading business schools right here in their own backyards," said Liang. "In the near future, the leading b-schools of the US and UK will likely shift their focus to Asia and China, given the relative decline of the importance of their home markets. The fact that both Harvard and Wharton have set up their own representative office in Shanghai is a clear indication in this trendd."

Suviving the Financial Crisis: EMBA outlook for 2009

Given the unfolding global financial crisis, what is the outlook for EMBA programmes and business schools in general in 2009? Professor Liang says the financial crisis is posing many major challenges to Chinese firms, especially those that have traditionally relied on export-oriented, labor-intensive product with low labor cost as their chief competitive strength, or those at the beginning stage of going international. Prof. Liang believes the current atmosphere of uncertainy poses opportunities for China-based business schools, commenting: "In the first 30 years in China's economic reform, the success of Chinese firms rode on the growth of the Chinese economy itself. In the next 30 years, with the market environment become every more competitive and open, the demand to management expertise, and to managerial talents will become much higher.  The need for management education in general, and in EMBA program in particular, will become even higher."

Anticipating rising needs, CEIBS is making major investment in its operations in Shanghai, Beijing and Shenzhen.  Earlier in 2007, CEIBS began building a new stand-alone campus in Beijing, to open in 2009. The school is also establishing a permanent, combined office/teaching facility in Shenzhen. Meanwhile expansion plans are also underway at the main campus in Shanghai and CEIBS is investing significantly in faculty recruitment and research, in order to be "ready for the next weave of growth and competition," says Liang.

Since its launch in 1994, CEIBS has graduated 7000 MBAs and EMBAs.