The Association of Chartered Accountants officially launched its Master's program in Suzhou on Thursday after Xi'an Jiaotong Liverpool University signed an agreement with the Institute of Chartered Accountants in England and Wales to offer the program at its newly-opened International Business School Suzhou.

ICAEW chief executive Michael Izza, XJTLU executive president Prof. Xi Youmin, and Sarah Dixon, dean of the IBSS, attended the signing ceremony.

The graduate program will benefit both parties and enable the two UK institutions to tap China's development potentials, school officials said.

The IBSS enjoys strong support of its two founding partners -- the University of Liverpool in the UK and Xi'an Jiaotong University in China. The new program will put the IBSS and XJTLU ahead of others in terms of international faculties and a global vision.

The IBSS has an increasing number of undergraduates and postgraduates from abroad, who contribute to the international atmosphere of XJTLU.

Prof. Dixon, dean of the IBSS, said: "This high-level program with the ICAEW will help our accounting students get internship from numerous potential employers through the ICAEW network. It's a great way to prepare them for a real job."

The graduate program also represents a milestone for the Association of Chartered Accountants to create a presence in Jiangsu Province after forming partnership with a number of Chinese universities and training institutions in Beijing.

The association is also considering setting up an office in Shanghai to find more partners in the Yangtze Delta region.

"We have more than 3,000 members in Hong Kong. To me, Shanghai is like Hong Kong in many ways, especially after the creation of the free trade zone. What happened in Hong Kong will happen in Shanghai. We have to be part of it," said Izza, a chartered accountant since 1986 and chief executive of the ICAEW since 2004.

James Lee, regional director of ICAEW Greater China, said their Shanghai office will open in May.

"This office will naturally focus on Shanghai and the whole Yangtze Delta. Our market strategy is to capitalize on our location in China's financial center and repeat our success in Hong Kong. We will offer our expertise and network to anyone who wants to succeed as a chartered professional accountant," Lee said.