Online financial education game MyShop rolls out in China

MyShop, an online financial education game created by a UBS developer team, has been officially launched. And, it's being piloted by UBS's community partner, Shanghai Jiuqian Volunteer Centre, with the support of UBS volunteers.

The non-profit financial game MyShop is designed for children from third grade to junior high. Through its play-while-learning, learn-while-playing approach, the game lets children manage a virtual store. It aims to help them understand commonly used financial terms, apply calculations and learn how to manage the store’s reputation as well as their own wealth. During the game, players receive weekly and final financial statements.

Eugene Qian, Chairman UBS Securities said: "With the rapid development of China's economy, financial literacy has become important in daily life, and we should pay attention to financial education for the next generation. Through MyShop, we help young people establish the right values and perspective on wealth, as well as develop their ability to save and spend money properly in a fun way. With our community partner, we aim to promote the development of financial education for children in China and offer an opportunity for our staff to share their skills in volunteering." 

The game has already been successfully launched in Singapore and India (see sidebar) and has proven popular with local children and NGOs. In China, UBS has reached agreements with a number of community partners and local schools to promote the game and provide the necessary financial education support to an estimated 30,000 beneficiaries. UBS also plans to launch MyShop in the Hong Kong Special Administrative Region, Japan and the Philippines.