Graduation ceremony is always the most honorable moment for every graduate upon leaving his alma mater. Graduation ceremony is always the most honorable moment for every graduate of the School. Starting from 2013, apart from a separate ceremony held by each respective program, the School hosts a grand commencement every year for graduates from all School's programs including the Undergraduate Program, Master of Finance Program, Double Degree in International Business Program, PhD Program, Fudan MBA Program, Fudan International MBA Program, S3 Asia MBA Program, Fudan Master of Professional Accounting Program, Fudan University Executive MBA Program (including the joint program with Taiwan University), BI-Fudan MBA Program. The University of Hong Kong-Fudan University International MBA Program, Washington University-Fudan University EMBA Program, City University of Hong Kong-Fudan University Doctor of Business Administration Program.