OREANDA-NEWS. March 21, 2013. The 2013 edition of the Citi Cup Financial Innovation Application Competition ("Citi Cup") was launched at Sun Yat-Sen University in Guangzhou. The launch ceremony was presided over by Yu Jin, Executive Vice President and Country Human Resources Officer of Citi China, Gary Li, General Manager of Citigroup Software Technology and Services (China) Limited (CSTS), and Professor Yu Shiyou, Deputy Party Secretary and Discipline Inspection Secretary of Sun Yat-Sen University.

Started in 2005, "Citi Cup" aims to promote the growth of IT application for the financial industry and to further advance the industry with new technology applications. To date, over 10,000 college students and 700 teachers have participated in the competition, and the program has reached 250,000 people through multiple channels, including campus activities and the media.

Currently into its 9th year, the competition has been refreshed with a new name - 2013 Citi Financial Innovation Application Competition - and its scope has expanded to include topics such as Future Payment. The changes are meant to drive financial technology innovation and encourage the active participation of cross-major teams with students of IT, finance, economics and management.

Mr. Yu Jin said, "Citi has been a leading supporter of financial education in China for many years, and we encourage the younger generation to innovate. We have been supporting this competition for many years in a bid to contribute to the development of the financial talent pool in China. This year we have extended the scope of the competition to provide a broader platform for college students to take part in the financial innovation industry."

Mr. Gary Li said, "The 'Citi Cup' has developed into a nationwide event, with thousands of students from over 40 key universities participating each year. It helps raise the awareness of the importance of technology in the financial sector and builds a bridge between academia and industry. Competing teams are required to submit a business plan that is intended to better bridge competition results with business operations."

The closing and awards ceremony of the 2013 'Citi Cup' will be held at the end of the year, when eight teams will compete for 1st, 2nd and 3rd prizes in the Best Future Payment Innovation Award and Best Technology Realization Product Award. The Shanghai Technology Entrepreneurship Foundation for Graduates will also evaluate the entries and may provide some teams with grants of RMB 200,000 or RMB 500,000 in venture capital funds.

Professor Yu Shiyou said, "The joint efforts of Citi and Sun Yat-Sen University will spur this year's competition to achieve even greater success, and make greater contributions to the cultivation of financial talents, the development of the industry and the progress of society."

Registration for the competition starts now and the deadline is June 30, 2013. College students can visit the 'Citi Cup' website at http://www.citigroup.com/china/csts/index_cn.html, or send registration information to: citi.cup.alumni@citi.com.