At the beginning of 2018, Shanghai University of Finance and Economics (SUFE) announced the construction plan for "Double First-class" (First-class university and first-class academic program). It was proposed in the plan that SUFE should take the discipline group of "Economics and commercial science" as the construction caliber and cover four first-level disciplines i.e. statistics, theoretical economics, applied economics and business administration, striving to cultivate outstanding financial talents who are "inter-disciplinary, applicable for foreign business affairs and innovative". It is expected that SUFE will have built world-class disciplines and basically built a world-class high-level research university with distinctive financial and economic characteristics by 2050.

As an important initiative to support the construction of "Double First-class", SUFE issued the Notice on Restructuring and Reestablishing College of Business of SUFE on January 19, 2018. "It was decided by the Standing Committee of University Party Committee after research that the School of International Business Administration and College of Business should be restructured to reestablish College of Business, Shanghai University of Finance and Economics, with the evocation of the original system of School of International Business Administration and College of Business".

For a long time, SUFE's business administration disciplines have remained in the leading level domestically. The restructuring and reestablishment of College of Business will definitely be a great booster to the disciplinary development.