Winners of the Fifth Annual Citi Financial IT Application Competition Announced in Shanghai

The winning team

November 23rd, 2009, Shanghai The fifth annual Citi Financial IT Application Competition announced its winners on Saturday in Shanghai. After six months of pre-screening and a two-day final competition, the team with project of Financial Information Search Engine Project from Wuhan University won the highly-coveted Citi Cup award and US10,000 in prize money.

More than 1,300 students from 38 universities nationwide participated in this year’s competition. Students were asked to think of new ways to improve productivity, reduce cost, improve service quality, raise security and reduce risk using technology.

A panel of industry and academic experts selected nine teams to enter the final competition in Shanghai. The students were required to demonstrate a strong technical understanding, program management and problem solving skills. Additionally, the nine teams were expected to present their ideas in an engaging and compelling manner.

Andrew Au, CEO of Citi China, said, “Information technology is a fundamental driver behind innovation in the financial services industry. A healthy IT sector that can support the evolving needs of China's financial industry is crucial to both the financial industry and the greater economy. We are delighted to see that the program has played a role in expanding the talent pool for the sustainable development of a vibrant IT sector - that supports the ongoing success of China’s social and economic development.

Sun Lanlan, Director of The State Council Research and Development Center, the International Cooperation Bureau, said, “thanks to Citi’s vision and support, the Financial IT Application Competition has now become a benchmark for developing studentscomprehensive competency in China, as well as a leading example of collaboration between universities and enterprises in China. In addition to fund support, Citi has also exerted its positive impact on nurturing studentscreativity, improving their overall qualifications, elevating entrepreneurship and teamwork, and promoting studentsinterest in technology.

Launched in 2005, the Citi Financial IT Application Competition reinforces Citi’s commitment to supporting the healthy and sustainable development of China’s financial IT industry. In fact, for the past five years, the Citi Foundation has provided approximately US$2 million in grants to support this sector. Co-organized by Citigroup Software and Technology Services, Tongji University and Shanghai Technology Entrepreneurship Foundation for Graduates, the competition has become an influential platform and important bridge between academia and the IT industry. The competition generates ideas, provides a platform to share experiences, and fosters innovative and practical skills amongst participants.

Since 2005, more than 6,000 students and 640 teachers from over 40 universities have participated in the competition. Some winners were invited to share their ideas at the 2007 Cebit Asia trade fair, electronic finance exhibition in Shanghai. Winners were also invited to participate in the 2007 Global IT Outsourcing Summit.