Qingdao, which is home to nine million people, is setting up a partnership with the Chartered Institute for Securities & InvestmentGetty Images

The institute that sets exams across the City is expanding into China. The Chartered Institute for Securities & Investment is setting up a partnership with Qingdao to train wealth managers.

The city in the Shandong province, which was the site of the 2008 Olympic sailing events and is home to about nine million people, has ambitions to become China’s centre of its growing wealth management sector, catering to the country’s increasingly prosperous population.

Qingdao’s local government asked the institute to provide the necessary tuition papers. The classroom training will be carried out by the Shanghai University of Finance and Economics.

The institute has its origins at the London Stock Exchange, but it is now a global organisation with 40,000 members in 116 countries.