NYU currently has a presence at East China Normal University (华东师范大学). They're opening a full campus in Pudong, the new district. Maybe they understand they can't just feed Wall Street, so Pudong is a logical decision. But it's a good decision for more than just being situated in the new financial district of a new financial power. "In the 2011-12 academic year, NYU plans to begin an executive education program, which will not grant degrees. A degree-granting, professional Masters program would begin in the 2012-13 academic year, and in the fall of 2013, NYU hopes to welcome its first undergraduate class to NYU Shanghai. "
East China Normal Uni is located at what was the campus of St. John's University right by Suzhou Creek. St. John's University was dissolved after the revolution with parts of it absorbed into Shanghainese Second Medical College and Fudan University.
Even though St. John's University was registered in Washington DC, a BA from St. John's University and a CPA from Hong Kong (which is qualified through the UK) would not even let you sit for the CPA in the United States. NYU is really (has really been) leading the curve. They accepted programs from St. John's back in 1956, organized semesters abroad with ECNU and now are opening their own campus.
I am still trying to have Parsons give me credit for my semester at Fudan.
Original source: http://nyunews.com/blogs/on-assignment/2011/01/22/22shanghai/