Ningbo's first presidents union for corporate universities, initiated by HR directors of more than 30 top-performing companies in the city, was established in late April to explore the potential of their employees.

The union, composed of Ningbo companies with good brand images and sound reputations, announced that they aimed to build 30 to 50 corporate universities in the city within five years by combining the best practices from both home and abroad.

Unlike traditional universities, the corporate university is a strategic platform designed to provide company-specific training and education to employees and to promote the sustainable development of the companies.

"In an era when introducing high-caliber personnel from other places is not easy, the cultivation of local talents with high loyalty becomes more important," said Hu Dongping, deputy director of the human resources and social security bureau in Yinzhou district.

Since the first corporate university was set up by General Electric in 1955, this kind of training organization has gained popularity across the world. Up until the present day, there have been more than 1,000 corporate universities in China.

Members of the Ningbo corporate university union pose at the launch ceremony. [Photo/zjol.com.cn]