SNAI International Students' Field Study in Hangzhou
Experience China: How Can One Not Miss Jiangnan?
— SNAI International Students' Field Study in Hangzhou
"We truly love Hangzhou and are so grateful for this invaluable opportunity to visit Nanhua Futures!" On the morning of April 1, on the ninth floor of Hengdian Tower in Hangzhou, inside the Nanhua Futures Investor Education Base, Li Mudi, an international student from Algeria, stood smiling in front of a large screen displaying real-time futures prices. Beside him, more than twenty of his classmates raised their phones to capture this rare glimpse of a live trading interface.
This was a vivid scene from the Hangzhou field study organized for international students enrolled in the 2025 cohort of the Master of Accounting Program for Developing Countries at Shanghai National Accounting Institute (SNAI). As a key initiative in SNAI's 2026 efforts to enhance the international student training system and deepen education aimed at fostering "knowledge and friendship of China," this Hangzhou field study was carefully designed around three major themes: tracing the historical evolution of China's fiscal and tax systems, gaining insights into the innovative practices of China's futures markets, and exploring the civilizational significance of the Grand Canal as a north-south economic and cultural link. Twenty-eight young financial and economic officials from 15 countries journeyed from the millennium-old tax systems at the China Museum of Finance and Taxation to the trading floors of futures companies; from the Wenlan Pavilion, home to a珍藏 copy of the *Complete Library of the Four Treasuries*, to the千年-old wharves of the Beijing-Hangzhou Grand Canal. Through this journey, they came to "understand China" through direct experience.
**A Millennium of "Tax": Understanding Chinese Governance Through Fiscal and Tax Evolution**
On the afternoon of March 31, the international students visited the China Museum of Finance and Taxation. The opening statement, "Public finance is the foundation and important pillar of national governance," served as a key to understanding China's fiscal and tax history. The museum clearly presents over 4,000 years of evolution, from pre-Qin tax documents to the modern fiscal system. In the Wealth Culture Exhibition Hall, displays on the "four occupational groups" and the "pursuit of wealth and blessings" led the students to realize that wealth concerns not only the economy but also culture and beliefs. This was not just a historical review but also a crucial piece in understanding the deeper logic behind contemporary Chinese fiscal and tax policies.
That same day, during a spring rain, they also visited the Wenlan Pavilion site within the Zhejiang Provincial Museum. This Qing Dynasty royal library, which once housed a copy of the *Complete Library of the Four Treasuries*, stands as a testament to Chinese civilization's persistent pursuit of preserving its classics. In the evening, the students strolled through the Southern Song Imperial Street and Hefang Street, where the blend of traditional architecture and modern commerce allowed them to experience firsthand the historical continuity and innovative vitality of China's urban development.
**Encountering the Future: Sensing the Financial Pulse in the Futures Market**
On the morning of April 1, Zhang Yang, Marketing Director of International Department I at Nanhua Futures, delivered a lecture titled "Stabilizing Industries with Futures, Opening New Horizons with RMB," providing the international students with an in-depth explanation of the hedging and risk management functions of the futures market. Constant Abalo, class monitor from the University of Gambia, remarked, "For us from developing countries, this is an extremely rare and valuable hands-on learning opportunity." During the event, SNAI and Nanhua Futures officially signed a strategic cooperation agreement, witnessed by the 28 international students.
In the afternoon, the students visited another leading futures company in Hangzhou — Yong'an Futures. Yong'an Futures has built a strong industry advantage in commodity futures, financial derivatives, and other areas,凭借 outstanding research capabilities and professional industrial service expertise. The students toured the company's office environment and held discussions with the business team, gaining systematic insight into the operational models, risk management systems, and practical cases of serving the real economy of Chinese futures companies. From Nanhua Futures' international strategy to Yong'an Futures' deep industry empowerment, these two distinct yet equally leading enterprises vividly illustrated the diverse and professional development landscape of China's futures industry.
**A Thousand Years of the Grand Canal: Understanding Civilizational Links Through Water Engineering**
The Grand Canal is not merely a water conservancy project; it is the "artery" of Chinese civilization. On the morning of April 2, the students visited the China Museum of the Beijing-Hangzhou Grand Canal to learn how this ancient waterway connected the north and south, nurturing civilization for over 2,000 years. Through the canal, one can understand how China has historically used infrastructure construction to link economies, blend cultures, and unite the nation. This wisdom of "connectivity" is in the same vein as the spirit of the Belt and Road Initiative — the key to development lies in connection.
In the Qiaoxi Historical and Cultural District, ancient granaries have been transformed into cultural and creative spaces, while residents stroll along the wharfs. Standing by the Grand Canal, the students couldn't help but recite Bai Juyi's poetic lines: "How can one not miss Jiangnan?" As shutters clicked, smiles were captured alongside the canal.
**Applying Knowledge: Packing "China Experience" into Their Bags**
Upon returning to the institute, Constant Abalo, the class monitor, expressed heartfelt thanks on behalf of all 2025 cohort students in the class group chat: "This experience was unforgettable. We not only immersed ourselves in the local culture but also gained firsthand knowledge about the futures market and visited several wonderful museums. Every moment was filled with learning, discovery, and genuine happiness. Thank you to the institute for giving us this precious opportunity to learn outside the classroom and grow together as a group."
This Hangzhou field study is a concrete measure taken by the SNAI International Education Center to implement the *Ministry of Finance's Opinions on Further Promoting the High-Quality Development of National Accounting Institutes*. From fiscal and tax tracing to futures practice, and then to canal civilization — this three-day journey was a profound "Experience China" trip. What the international students took away was not just knowledge, but also replicable and transferable Chinese experience. In the future, they will apply Chinese wisdom to their own countries' practices, enrich Sino-foreign exchanges through mutual learning, and become bridges connecting China with the world.
