Northern Illinois University says it plans to cultivate more financial talent for China.

"We all know that the growth of the economy in the world, a big part of it will come from Asia, from economies like China,"said Balaji Rajagopalan, dean of the College of Business of Northern Illinois University, in the city of DeKalb, the United States.

"So we are excited to bring in students who are going to be part of an economy that is growing significantly now and will continue to grow for many years."

The university signed a memorandum of understanding with the Hentane Group, a Chinese education group that specializes in financial training, on Friday.

Zhang Xiaobin, chairman of the Hentane Group, said Hentane will form a strategic partnership with the university and will be responsible for enrolling students for its MBA program.

"Hentane has focused on providing training services in the finance and taxation sector in China for a long time. I believe this collaboration will succeed in cultivating financial talent for China."

The MBA program will take 40 Chinese students a year, about 10 percent of its MBA numbers.

The MBA program has a pronounced practical slant, Rajagopalan said. It would help Chinese students work on industry projects, connect them with industries leaders and provide them with the opportunity of being problem solvers.