From September 28 to October 1, 2026, the SJTU Asia-Pacific Graduate Institute (SJTU-APGI) and the Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University held a four-day overseas study module at Universitas Indonesia. SJTU-APGI partnered with the university's Faculty of Economics and Business (FEB UI) to support the module, and SAIF brought together more than 40 students from its Master of Finance (MF) and MBA programs. The module was designed to sharpen students' global business acumen and deepen international academic collaboration.

Moving between the lecture halls of Universitas Indonesia, the bustle of Jakarta, and the boardrooms of major corporations, students gained a close-up view of a fast-changing emerging market. Lectures on digital transformation, the digital economy, sustainable human resource management, and international trade were complemented by visits to four leading Indonesian companies. A cultural excursion offered a glimpse of Indonesian life beyond business.

For many students, the module was also a chance to see Indonesia with fresh eyes. The country's sheer market scale and fragmented geography left a lasting impression. Those whose picture of Southeast Asia had been shaped largely by Singapore's financial sector and Vietnam's manufacturing boom found a more complex reality on the ground: supply chains spanning thousands of islands, rapidly growing digital consumption, and infrastructure still under construction.

Academic and Practical Learning: Blending Lectures with Corporate Visits

Led by Professor Jie Hu of SAIF, the module linked theory with practice to give students in-depth insight into Indonesia's business ecosystem.

Academic Lectures

Four core lectures, delivered by FEB UI faculty and local experts, explored Indonesia's industrial landscape in the context of global business trends.

•    The Challenge of Digital Transformation — Dr. Erwin Tenggono discussed how companies respond to the business and organizational change brought about by digitalization, illustrated with corporate cases from the local business environment.

•    Indonesia's Digital Economy: A Tale of Two Realities — Dr. Ibrahim Kholilul Rohman contrasted the rapid growth of e-commerce, digital payments, and internet use with a persistent digital divide, gaps in infrastructure, and limited local digital capabilities.

•    Sustainable HRM — Professor Riani Rachmawati considered how companies are rethinking talent, employment, and long-term development amid digitalization, the rise of the gig economy, and skills shortages. The lecture also examined how Indonesia's large young population creates new opportunities as well as new organizational challenges.

•    International Trade in a Fragmenting World — Professor Fithra Faisal Hastiadi drew on the latest trade data to show how shifting tariffs, industrial policy, and geopolitics are reshaping global trade and supply chains, with particular attention to ASEAN, East Asian production networks, and the “China+1” strategy.

Corporate Visits

The company visits gave students a direct view of local operations and connected classroom learning with real-world practice.

•    At Astra International, one of Indonesia's largest diversified groups, students examined how a company extends its supply chain and distribution channels across a vast, fragmented archipelago.

•    At PT Indofood Sukses Makmur Tbk, the country's leading consumer goods group, management shared the company's history and key operating decisions, giving students a clearer understanding of how a homegrown company sustains long-term market leadership.

•    At PT PLN Indonesia Power, company presentations, an on-site Q&A, and interactive sessions offered insight into Indonesia's energy sector.

•    At PT Pegadaian, students learned about the company's business and products and tried out distinctive services such as its “gold ATM.”

Across the lectures and visits, a common theme emerged: in an unfamiliar market, the questions that matter most to a business can rarely be answered by textbooks and data alone. Understanding how supply chains reach across the archipelago, how digital infrastructure keeps pace with shifting consumer demand, and how companies balance international pressures with local needs and long-term growth comes only from experience on the ground.

Student Voices

Students highlighted the value of cross-cultural learning and practical insight.

“Universitas Indonesia's tree-lined campus, the development challenges facing an archipelago nation, and the children's smiles are among my most vivid memories of the trip. They reveal a side of Indonesia that no report can fully capture,” said one MBA student.

Another student valued the level of access to the companies: “We met the senior managers who truly understand the key operating decisions behind these businesses. What we heard was far more direct and authentic than anything a textbook can offer.”

The lectures resonated as well. “The professors drew on their own work and insights in digital transformation and sustainable development,” noted one MF student. “They helped me see a developing country's strengths and obstacles, and the efforts under way — from planning through implementation — in areas such as women's employment and digitalization.”

Strategic Value

The module advances the goals of SAIF and Shanghai Jiao Tong University on two fronts.

Enhancing International Reputation: Continued collaboration with FEB UI, one of Indonesia's leading academic institutions, further expands SAIF's global academic network. The partnership reflects SAIF's commitment to high-quality international education and strengthens the standing of Shanghai Jiao Tong University abroad.

Broadening Students' Global Perspectives: Immersion in a diverse cultural and business environment equips students with essential cross-cultural communication skills and firsthand insight into a fast-growing regional market, preparing them to become business leaders who can thrive in a globalized economy.