Shanxi University of Finance and Economics (SXUFE) was founded in 1951, one of the forerunners in the field of higher education of Finance and Economics in the New China. In September 1958, the five cadres schools, i.e. Shanxi Financial Administration Cadres School, Shanxi Banking Industry Cadres School, Shanxi Supply and Marketing Cooperative Cadres School, Shanxi Commercial Administration Cadres School and Shanxi Grain Administration Cadres School, were merged constituting Shanxi Finance and Economics Institute (SXFEI), which was first under the control of Shanxi Province; then administered by Headquarters of China Supply and Marketing Cooperatives since September 1978, by Ministry of Commerce from February 1982, by Department of Domestic Trade since January 1993 and again by Headquarters of China Supply and Marketing Cooperatives since January 1996. In December 1984, Shanxi Economic Management Institute (SXEMI) came into existence and was under the administration of Shanxi Province. In October 1997, with the approval of the former China State Educational Committee, SXFEI and SXEMI were merged composing SXUFE, which was under the control of both Shanxi Province and Ministry of Education. From October 1999, SXUFE has been governed by Shanxi Province.
