History of Shanghai Lixin University of Accounting and Finance
Shanghai Lixin University of Accounting and Finance is a full-time general higher education institution offering distinctive accounting and finance programs. It was formed in June 2016 by amalgamating Shanghai Lixin University of Commerce and Shanghai Finance University.
Retrospect of University History · Founding Father of Modern Accounting in China - Pan Shulun
Pan Xulun (1893-1985)
Mr. Pan Shulun, founder and former president of Lixin, born in Dingshu Town, Yixing, is an internationally renowned accountant and educator and is known as the “Founding Father of Modern Accounting in China”.
Great twists and turns in early life
Born in a family of scholar, Pan Shulun was smart and studious with outstanding academic record since childhood. Before 12, Pan studied in an old-style private school. Then, he entered Dongpo Elementary School, and after that, Shanghai Pudong Middle School, where he was appreciated by president Huang Yanpei.
In 1905, Pan Shulun studied in Dongpo Elementary School
Composition titledIntrospection(Zhi Fei) written by Pan Shulun when he was studying in Shanghai Pudong Middle School
In 1908, Pan was dismissed from school for being involved in a protest against a teacher by handing in blank examination paper. Then, Pan transferred to Changzhou Middle School.
(With a long history, Changzhou Middle School has cultivated a number of celebrity alumni, including Qu Qiubai and Qian Mu).
In 1919, Pan obtained an exceptive admission to St. John’s University.
In 1921, Pan obtained a Bachelor of Arts degree.
Travel across the ocean to study
Pan Xulun’s Application for Admission to Harvard University
Pan Shulun’s Graduation Certificate from Harvard University
In 1921, Pan Shulun won the scholarship of Nanyang Brothers Tobacco Co. Ltd. via examination and went to the U.S., to study in Harvard University School of Business and Management. He chose the major of accounting and thus laid firm foundation for the lifelong engagement in accounting researches. After two years of hard study in Harvard University, Pan obtained MBA degree. Then, he spent another year in Columbia University studying political economy and obtained doctor’s degree.
Photo of Pan Shulun and Harvard University Alumni Association Shanghai Chapter in July 1936
Devote himself to accounting and found Lixin
In 1924, Pan Shulun graduated and returned to China with the wish to “save the nation by education” and “save the nation by engaging in industry”. After coming back to Shanghai, he introduced and taught western accounting in several universities in succession. As the earliest promoter of new bookkeeping system and the founder of modern accounting in China, Pan is called the Founding Father of Modern Chinese Accounting.
Lixin Accounting Firm founded in Avenue EduardⅦ(Yan’an E. Road today)
Former site of the school headquartersat No.18, Jixiangli, He’nan Road, Shanghai
School campus in Beibei
Lixin Accounting Book Store at No.16, Linsen Road, Chongqing
“Lixin Building” on Kuaizi Street, Xiaoshizi, Chongqing
Residence of Pan Shulun on Changle Road, which he devoted to the school as temporary school building
The old horse in stable is yet dreaming of heroic exploits
In the 1950’s, Pan Shulun suffered from significant setbacks. Then, he kept his beards to show his moral courage and pursuit. The school stopped running for adjustment in 1952. In the late 1970’s, the identity of Pan Shulun as CPPCC member of Shanghai was recovered.
Photo of Pan Shulun, his wife and Pan Zengxi, his grandnephew, in 1979
(Pan Zengxi: former vice general manager of China State Shipbuilding Corporation and former vice president of Xinhua News Agency Hong Kong Branch)
After the implementation of reform and opening-up policy, Pan Shulun continued to be active practitioner in the field of accounting. As proposed by Pan Shulun, Shanghai Accounting Association, the first accounting association in China, was founded in 1979.
InAugust1980, 11 celebrities from social and economic circles, including Pan Shulun, Ma Yihang and Gu Shuzhen, proposed recovering Lixin and founding Lixin College of Accounting.
In January 1981, Shanghai Accounting Firm was founded. This was the first accounting firm in China with Pan Shulun acting as the first chairman.
In the 1980’s, accounting historian Professor Guo Daoyang visited Pan Shulun.
In the 1950’s, Pan Shulun took a photo with Gu Zhun, a student of Pan, and Director General of Shanghai Municipal Bureau of Finance.
Pan lived a simple, thrifty and charming life
Pan Shulun devoted himself to accounting and accounting education in China. Pan set up “Siyuan Education Foundation” for Nanyang Tobacco Corporation, which used to subsidize him. In 1937, he donated 60,000 Yuan to establish Lixin College of Accounting. In 1980, he donated his lifelong savings for the rebuilding of the school and set up Pan Shulun Scholarship. Pan invested all books he collected and all his royalties on books into the accounting education. However, Pan lived a very simple and thrifty life.
On Nov.8, 1985, Pan Shulun died of an illness at the age of 92. As a leading authority in accounting, founder of Lixin and a great figure in Chinese academic and accounting field, Pan Shulun will surely have his name and contributions to Lixin and accounting recorded in the development history of accounting and the history of modern education in China.
Residence of Pan Shulun and his wife Zhang Huisheng in their late years
Quotations from Pan Shulun
Accountant should have impartial character, sincere attitude, incorruptible integrity, and hardworking spirit to advance credit and perform duties.
Knowledge, experiences and skills are all essential qualities of an accountant, but what is most important is definitely morality.
Achievements can only be made after we work hard to run a school. Special talents can only be cultivated by combining theory with practices.
For an accountant, only full score is qualified. 1 point less is below the standard.
From the society, to the society. From the accounting, to the accounting. From the students, to the students.
Equip Students with Knowledge, Integrity and Loftiness
Previous School Motto (Handwriting of Pan Shulun)
History at a Glance ---- Shanghai Finance University
China's financial industry has experienced highs and lows along with all of China’s history. Among the dramatic changes from the beginning to rise, financial education has played a key role. At the beginning of the republic, there was an urgent need for large numbers of financial professionals due to the establishment of branches of the People's Bank of China and the creation of a new financial system. In order to meet the needs of economic development, the People's Bank of China decided to start financial education as soon as possible. In 1952, Shanghai Banking School was established.
Enduring the difficulties, times always remain fresh. During the past 60 years, the university has experienced a founding, a merger, a closure, a reopening, a promotion and several relocations. From Shanghai Banking School to Shanghai Finance School and Shanghai Finance College, it has achieved a leap in financial globalization development from single disciplinary to multi-disciplinary areas. This in turn has created a win-win situation that education is closely related to the country’s financial development.
Establishment—Early Times
Based on the requirements of business development, the People's Bank of China decided to set up a formal banking school to cultivate banking cadres and technical talented people. In 1952, East China of People’s Bank of China, People's Bank of China Shanghai Branch established the “East China banking school of People’s Bank of China and Shanghai Banking School”. In early 1955, the two schools merged into “Shanghai Banking School of the People's Bank of China”. In 1956, Shanghai Banking School moved to a new location in Suzhou with a new name “Suzhou Banking School of the People's Bank of China”. The school was closed in August, 1958. During the six years, it had cultivated more than 2,000 graduates, who were then distributed to 17 provinces and cities throughout the country. These graduates then became the pioneers and leaders of the financial field.
Banking School in Eastern China, People's Bank of China,August 1952 and October 1956
11, Shengjia Area, Suzhou
Shanghai Banking School,August 1952
961 M. Yanan Road, Shanghai
Shanghai Banking School, January 1955
62 Mayushan Road, Shanghai
Developing amidst twists and turns—Shanghai Finance School period
Following the requirements from the central government to strengthen financial work, in March 1960, Shanghai Finance Bureau and the People's Bank of China Shanghai Branch jointly established Shanghai Finance School. The school was closed down in 1969. In 1978, the School reopened with the new name “Shanghai Finance School” offering three majors: fiscal science, finance, and foreign exchange. During the 10 years, it produced more than 1,400 graduates, of which 58% worked in finance and banking departments.
Shanghai Finance School, September 1960
40 Jiujiang Road, Shanghai
Shanghai Finance School, August 1961
689 S. Pudong Road, Shanghai
Shanghai Finance School, August 1962
620 Gubei Road, Shanghai
Shanghai Finance School, August 1964
20 E. Zhengdan Road, Shangh
Shanghai Finance School, September 1978
146 Kunshan Road, Shanghai
Constantly strive to become stronger—Shanghai Banking School period
After the Third Plenary Session of the Eleventh CPC Central Committee, in order to carry out Deng Xiaoping's instruction “let the banks be the truly banks,” China’s financial system started reforms. In March 1982, Shanghai Finance School was split into Shanghai Banking School and Shanghai Finance School. Under the leadership of the People's Bank of China, the school moved to Minxing Road district in 1984 and school conditions was improved. At that time the school offered programs and majors in finance, insurance, accounting, foreign exchange etc.
Endeavour and bravely advanced—Shanghai Finance College period
In the early 1980s, the Party Central Committee and the State Council made ??the decision to build Shanghai into a financial center, thus Shanghai yearned for financial talent. The People's Bank of China worked together with the Shanghai Municipal Government to build a financial specialist institution. In 1987, with the approval of the State Education Ministry, Shanghai Finance School was renamed to Shanghai Finance College; The college insisted on the strategy of “relying on the industry, serving the society” and offered the following 5 majors: finance, accounting, auditing, secretary, international finance and insurance. It also bore the task to train the cadres and professionals of the financial industry. In 1990, China's first securities professionals training base - Shanghai Securities Professional Training Department was set up in the college. Subsequently, from 1993 to 1995, the college opened three securities specialized classes, and cultivated the first batch of security experts with higher education degrees.
Shanghai Finance College, June 1988
465 Minxing Road, Yangpu District，Shanghai
Seizing opportunities—Promotion to undergraduate university
In 2000 the college was transferred to the leadership of the local government. It has actively participated in the overall layout of Shanghai Higher Education and Talent Training. Under the support of the Shanghai Municipal Government and related industry departments, it firmly grasped the golden opportunity of Shanghai International Financial Center Construction and Shanghai Higher Education pilot reform. Shanghai Finance College was then promoted to a university-level institution and was renamed Shanghai Finance University, opening a new chapter of history.
Shanghai Finance University, 2004
995 Shangchuan Road, Pudong New Area, Shanghai
