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Contents

Dean’s Message 2

SEM Highlights 3

Programs 5

Research 11

Cooperation andDevelopment

13

Forum 15

2008 SEM Freshmen Class: 23 Top in Province, Nearly One Half in Top Ten

Second Degree in Economics Program Graduates First Class

Tsinghua SEM Advisory Board Holds Annual Meeting on August 8 in Tsinghua

Core MBA Curriculum Reform Launched

2008 Tsinghua Management Global Forum Held

TSINGHUA SEMNEWSLETTER School of Economics and Management, Tsinghua University Fall 2008 (No. 4)

News: 2008-06-01 through 2008-12-31

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2008 marked the centennial of MBA education. In September, following a yearlong review and discussion process, the Tsinghua University School of Economics and Management made headlines with the launch of its new MBA curriculum. Tsinghua SEM offered China’s first MBA degree in 1991; this year, we honored one hundred years of MBA education by continuing the reforms that have kept us at the forefront of our field.

Tsinghua SEM’s Second Degree in Economics Program graduated its first class this July. Since its inception in 2006, the program has drawn outstanding undergraduate students from throughout the university. Diplomas were awarded at a special graduation ceremony this summer, and we welcomed its graduates into the Tsinghua SEM alumni network. On August 8, China captivated the world with the opening of the Beijing Olympic Games. That morning, the Tsinghua SEM Advisory Board held its annual meeting in the university’s Main Building; board members attended the Olympic opening ceremony that evening. This year’s meeting saw a record number of overseas attendees, attesting to the Advisory Board’s extensive influence.

2008 was truly an unforgettable year. Having experienced the Sichuan earthquake and the Olympic Games, we are now facing the challenges of a global financial crisis and economic downturn. This year’s Tsinghua Management Global Forum focused on how Chinese businesses should weather the financial storm. With 2009 fast approaching, we hope to see the Chinese and global economies emerge from the crisis; we also look forward to a new year for Tsinghua SEM.

QIAN Yingyi Dean

DEAN’S MESSAGEDecember 31, 2008

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Tsinghua SEM Welcomes 2008’s New Undergraduates: 23 Top in Province

Tsinghua SEM welcomed 200 new undergraduates (188 from mainland China) at the beginning of the 2008 fall semester. The school continues to attract the nation’s best minds: among this year’s new students from mainland China, 23 earned the top score for their province or region on the university entrance exams, while nearly 100 placed in the top ten. Dean Qian Yingyi said the school would make every effort to create a positive environment and expand opportunities for development, allowing all students to achieve their full potential during their time at Tsinghua SEM. Individualized personal and academic guidance is also available to help students map their futures.

Second Degree in Economics Program Graduates First Class

Tsinghua SEM’s Second Degree in Economics Program graduated its first class on July 4, 2008. 61 students were awarded a second degree in economics upon completing program requirements; another five undergraduates received minor certificates. Diplomas were presented by Tsinghua SEM Dean Qian Yingyi and Department Chair Bai Chong-en.

Launched in 2006, the program has an annual enrollment of around 150 students majoring in subjects other than economics or management in Tsinghua University. Students who complete all program requirements receive a second bachelor’s degree upon graduation; those who have not met all requirements have the option of receiving a minor certificate or continuing to pursue an economics degree after graduation. Enrollment is highly selective: students have excellent academic records in their original departments, most with a GPA above 85.

Tsinghua SEM Advisory Board Holds Annual Meeting on August 8

On Augus t 8 , 2008 , t he Ts inghua SEM Advisory Board held its annual meeting at the university’s Main Building. Dean Qian Yingyi reported on SEM’s significant progress in the areas of students, faculty, and internationalization during the past year; board members also discussed the school’s future. Vice-Premier Wang Qishan spoke with international board members prior to the meeting, which was also attended by Minister of Education Zhou Ji. The date of this year’s annual meeting, the board’s ninth, coincided with the opening of the Beijing Olympic Games—an occasion for China to play host to the world. Board members attended the evening’s festivities at the National Stadium. The 2008 meeting saw the highest attendance since the establishment of the Advisory Board in October 2000.

Attendees at 9th Tsinghua SEM Advisory Board Meeting, August 8

Commencement for Second Degree in Economics Program, July 4

SEM HIGHLIGHTS

9th Tsinghua SEM Advisory Board Meeting, Reception Hall, the Main Building, Tsinghua University, August 8

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Dean Qian Yingyi teaches Principles of Economics to first-year undergraduates

2008 Tsinghua Management Global Forum, November 14

Core MBA Curriculum Reform Launched

2008 marks the worldwide centennial of MBA education, and on September 24 Tsinghua SEM announced reforms to the core curriculum of its MBA program. The updated program is designed to cultivate future leaders with wide-ranging management skills.

In the 2008 fall semester, several new courses were introduced on a trial basis into the first-year curriculum; MBA students enrolling in 2009 will study a fully redesigned curriculum. During their first eight weeks at Tsinghua SEM, students will attend “soft courses” such as Management Communications, Leaders and Teams, Career Development Planning, and Introduction to Management Science. The redesigned curriculum puts particular emphasis on cultivating practical skills and a global perspective. “Integrated Practice Courses” required during the fourth module p rov ide s tuden ts wi th hands-on experience operating real programs. Students are also encouraged to gain international experience through overseas summer internships, international exchange programs and short-term study-abroad programs. In another change to the program, students will be required to submit a case analysis report rather than a graduation paper or graduation report.

Dr. Yan Peng Honored in 2008 Top 100 Doctoral Dissertations

The Ministry of Education and the Degree Committee of the State Council recently released their list of China’s top 100 dissertations. Among the honorees was Tsinghua SEM’s Yan Peng, for his dissertation titled Attribute Domain-Based Association Rules Extensions. This was the first-ever doctoral dissertation in management to win such an honor. Yan Peng, who earned his doctorate from the Department of Management Science and Engineering in 2006, had papers published in a number of international journals during his time at Tsinghua SEM. Yan earned top honors in the Outstanding Doctoral Dissertation Awards and has been named an Outstanding Doctoral Graduate of Tsinghua University.

“Principles of Economics” Course Recognized by Ministry of Education

A list unveiled this October named ten Tsinghua University courses among the nation’s “Outstanding Classes of 2008”. Among the honorees was Principles of Economics, taught by Tsinghua SEM Dean Qian Yingyi. Launched in 2002, the course targets first-year undergraduates majoring in Economics and Management. It is also offered as an elective for students pursuing a second degree in economics.

2008 Tsinghua Management Global Forum Held

The 2008 Tsinghua Management Global Forum was held at Tsinghua University on November 14, 2008. This year’s forum focused on “how Chinese businesses should weather the global financial storm.” Recognized as Tsinghua’s top annual management conference, the event brought together more than 500 participants from the government, academic and business sectors to discuss strategies for minimizing the impact of the financial crisis on China’s economy and businesses. Keynote speeches were delivered by Jiang Jianqing, Chairman of the Industrial and Commercial Bank of China, and Shen Liantao, chief consultant with the China Banking Regulatory Commission and an adjunct professor at Tsinghua SEM. Subsequent panel discussions focused on “revising Chinese micro-economic policy in the context of a global financial crisis” and “challenges and solutions for Chinese businesses facing a global financial crisis.”

SEM HIGHLIGHTS

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SEM Honored for Teaching Excellence

Tsinghua University announced the recipients of its Award for Teaching Excellence 2008 on June 27. Among the honorees were three programs offered by Tsinghua SEM. Top honors went to “Patterns of Internationalization in Tsinghua SEM’s Undergraduate Program,” created by Zhu Yujie, Li Daokui, Bai Chong-en, Guo Xunhua, and Zhou Guang, along with the “Entrepreneurship Series for Postgraduates,” run by Gao Jian, Zhang Wei, Mei Meng, Luo Jianbei, and Lu Xiangqian in partnership with Tsinghua Science Park. Xue Lei, Xu Zhong, Li Hua and Li Danchen were also recognized for their program “Innovations and Practices for Cultivating Talent in Sports Management.”

Tsinghua SEM Honored for Accounting Major

23 majors offered by Tsinghua University have been recognized as “Distinctive Major Programs” by the Beijing Education Committee, including Tsinghua SEM’s Accounting program. Set up in 1994, the program has graduated 580 students, with 99 currently enrolled. According to the university’s Academic Affairs Committee, Tsinghua SEM’s accounting major will contribute to better undergraduate education at Tsinghua and will help reform and develop the major nationwide.

Professor Song Fengming among Beijing’s Outstanding Teachers

Professor Song Fengming was honored at the Fourth Awards for Beijing Higher Education Teachers, one of 11 Tsinghua faculty members recognized this year.

Professor Song, who joined the Tsinghua SEM faculty in 1988, teaches Finance Engineering and Commercial Bank Management. Finance Engineering received both citywide and nationwide honors as an “Outstanding Course” in 2006. Past recognition includes first prize in the Beijing Awards for Excellence in Philosophy and Social Science Research (2001), Outstanding Faculty Member of Tsinghua University (2000), the university’s “Good Teacher, Helpful Friend” award (2001), and the Baosteel Award for Excellent Teachers (2007). A survey of SEM graduates named his classes among the school’s most valuable.

The Award for Beijing Higher Education Teachers is conferred on faculty members at Beijing’s colleges and universities with outstanding academic and teaching records. Recipients are announced annually by the Beijing Education Committee.

TEACHING ACHIEVEMENTS

Professor Li Daokui and students in class

Assistant Professor Luo Ting teaches Intermediate Financial Accounting

PROGRAMS

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72 SEM Undergraduates Participate in Study-Abroad Programs

205 SEM students were recommended to study abroad as exchange students during 2008. This year’s exchange student enrollment reached 205, an 18% increase over 174 last year. This includes 72 undergraduates.

Tsinghua SEM now has exchange agreements in place with 73 international business schools, 16 more than last year. Partner schools, located in North America, Europe and the Asia-Pacific region, include the Stanford Graduate School of Business, the Sloan School of Management at MIT, Duke University’s Fuqua School of Business, the Stern School of Business at New York University, the Yale School of Management, Cornell University, the University of North Carolina, Queen’s University (Canada), HEC-Paris, the University of Koeln (Germany), the National University of Singapore, Nanyang Technological University (Singapore), the Chinese University of Hong Kong, and the Hong Kong University of Science & Technology. Credits are transferable between Tsinghua SEM and partner institutions.

Tsinghua SEM 2008 Undergraduate Summer Field Trip

158 Tsinghua SEM sophomores traveled to Shaanxi, Shandong, Liaoning and Inner Mongolia

as part of a summer research program on China’s rural areas. Divided into 12 teams supervised by 12 faculty members and 16 graduate students, participants devoted eight days to field work on the topic of rural finance, reporting on their research after returning to Beijing.

Hands-on experience is a top priority for Tsinghua SEM. In 2005, the School organized a rural research program involving the entire sophomore class along with 190 faculty members. Participants spent ten days in Gansu Province studying local agriculture, animal husbandry, and the local economy. With its focus on financial development in rural China, the program has become an annual tradition thanks to financial support from HSBC in 2006. Over the past three years, more than 500 faculty members and students have visited 77 cities and counties in 13 provinces and regions nationwide.

145 SEM Students Serve as Olympic Volunteers

145 students from Tsinghua SEM served as volunteers during the Beijing Olympic Games and Paralympic Games. Students worked at the National Aquatics Center (more commonly known as the “Water Cube”), the International Media Center and designated locations throughout Beijing. Major responsibilities included making access cards, protecting retailer rights, and finance-related tasks. First-year master’s student Luo Hang was honored as a “volunteer star” and “outstanding Olympics and Paralympics volunteer.”

Tsinghua SEM Undergraduate Ruan Lufei Wins Team Gold atWorld Mind Sports Games

The Chinese women’s team won a gold medal in rapid chess at the World Mind Sports Games on October 17, 2008. Team member Ruan Lufei, currently a third-year undergraduate at Tsinghua SEM, took part in 11 games during 13 events in the preliminaries, semi-finals and finals, with a record of 7 wins, 3 draws and 1 loss. Ruan was also on China’s silver-winning team in the previous day’s Team Blitz competition.

An accounting major, Ruan was admitted to Tsinghua SEM in 2005. She earned the Woman Grandmaster (WGM) title in 2007 and has won gold medals at the World Chess Championship (women’s team), Asia Chess Championship (women’s individual) and Asia Indoor Games. Meanwhile, the SEM junior maintains an excellent academic record: she is in the top 5% of her major with a third-year GPA of 90.6.

SEM Faculty Member Guo Xunhua Honored

Tsinghua SEM faculty member Guo Xunhua has been honored as one of “Beijing’s Outstanding University Instructors.” The Beijing Education Committee presented the award to 336 staff members at institutions of higher education throughout the city, including 13 from Tsinghua University. Guo has previously been named a “Tsinghua University Academic Star” and “Excellent Doctoral Graduate.”

Tsinghua SEM Undergraduate Welcome Session, August 29

Dean Qian Yingyi visits student Olympic volunteers at the International Broadcast Center, August 13

International undergraduates

UNDERGRADUATE PROGRAM

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Tsinghua SEM Student Hu Kai Makes Historical Breakthrough for Chinese Team

On August 21, the Chinese team gained a place in the Men’s 4x100 Relay final with a time of 39.13 seconds, becoming the nation’s first team to reach the finals for this event. Tsinghua SEM postgraduate Hu Kai made the record-setting dash across the finish line. Nicknamed “the bespectacled flyer”, Hu had made another historical breakthrough on August 15 by qualifying for the second round of the Men’s 100 Meter Sprint. With a time of 10.40 seconds, he was the first Chinese runner to advance beyond the first round.

1st National Graduate Technological Entrepreneurship Business Plan Contest Concludes

Results of the First National Graduate Technological Entrepreneurship Business Plan Contest were announced on October 26, 2008. Team A1 from Xiamen University took first place, winning a business start-up fund of RMB 60,000 sponsored by GSR Ventures. The award was presented by Zhu Lilan, Council Chair of the China Association of Inventions and former Minister of Science and Technology, and Professor Zhen Yangkang, Vice-Chair of the University Council.

The event was co-organized by Tsinghua University’s Graduate School, School of Economics and Management, and Research Center for Technological Innovation. Open to all post-graduate students across the country, the contest is designed to encourage innovative thinkers, transform technological innovation into technological entrepreneurship, and translate scientific and technological research into greater productivity. Launched May 25, the preliminary round drew 110 teams from 26 colleges and universities nationwide, six of which reached the finals.

Tsinghua SEM Wins 1st Tsinghua University Graduate Sports Meet

The first Tsinghua University Graduate Sports Meet concluded on November 1, with Tsinghua SEM taking the team champion title, women’s team champion title, and men’s runner-up for Group A. Events in which Tsinghua SEM placed first included Men’s and Women’s 100 Meter, 400 Meter, 4x100m Relay and 20x60m Relay.

7th Tsinghua SEM Doctoral Academic Forum Held

81 doctoral candidates attended the seventh Tsinghua SEM Doctoral Academic Forum, held November 1-2, 2008. Also invited were 12 graduate and 10 undergraduate students, who participated in relevant academic discussions. Doctoral candidates submitted 117 papers for the occasion, out of which 116 were accepted and 47 were presented at the forum. The presentation portion was divided into eight panels covering topics in economics, finance, management science, technological economics and corporate management.

7th Tsinghua SEM Doctoral Academic Forum

SEM postgraduate Hu Kai leads Chinese team to historic breakthrough at Beijing Olympics

1st National Graduate Technological Entrepreneurship Business Plan Contest

MASTER’S AND DOCTORAL PROGRAM

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New Program to Promote Faculty Development at MBA Schools in West-Central China

The China National MBA Education Supervisory Committee (CNMESC) has teamed up with the Temasek Foundation to launch a program designed to strengthen business schools at universities in west-central China. The foundation will provide US $2.5 million (RMB 12.6 million) in funding to support the program. This announcement came at the launch ceremony for the “West-Central China MBA Schools Faculty Development and MBA Capacity Building Program” at Tsinghua SEM in Beijing on June 25, 2008. The program, which will train 135 participants from regional universities, is divided into three key components: the MBA Dean Leadership Development Program, the Business Faculty Development Program, and the Administrative Leadership and Management Program.

Tsinghua SEM Once Again Tops List of China’s Best MBA Programs

For the third t ime, Tsinghua SEM has topped the list of China’s best MBA programs issued by Manager magazine. Second place went to the China Europe International Business School, with Peking University’s Guanghua School of Management ranking third.

Manager has conducted surveys on Chinese business schools and ranked the nation’s top MBA programs since 2004. In accordance with international practices, rankings are based on a market-oriented evaluation rather than focusing on educational authority. They cover three aspects: business schools, MBA graduates and employers. Tsinghua SEM previously won the top ranking in 2004 and 2006.

2008 Tsinghua MBA Orientation & Leadership Forum

The 2008 Tsinghua MBA Orientation kicked off on September 5, 2008. Held at Weilun Building, the opening ceremony was attended by more than 400 new MBA students. This year’s incoming class includes 50 international students from 13 countries. The ceremony was followed by a forum with the theme of “leadership,” hosted by Professor Lu Xiangqian of Tsinghua SEM’s Department of Innovation and Entrepreneurship. Attendees included Luo Jianfan, CEO of PacLantic Co., Ltd.; Guo

Yiguang, Strategy Director of Ogilvy Digital; and Senior Adviser Yang Lei and human resources expert Gary Hopwood from Northern Light Venture Capital. The weeklong-orientation includes outdoor expansion, role-playing, simulations, case studies and other hands-on training activities. This provides students with a systematic introduction to the basic skills required of a professional manager and to the Tsinghua MBA culture, as well as promoting team spirit, communication skills and commercial awareness.

Tsinghua SEM Partners with MIT Sloan in Dual-Degree MBA Program

The MIT Sloan School of Management has announced the launch of a new MBA program in cooperation with four renowned business schools in Asia and Europe, including Tsinghua SEM. The program will offer highly talented management students a chance to supplement their learning－and to earn a degree from MIT.

Beginning in the 2009-2010 academic year, the program will initially enroll 15 international students, eventually expanding to 50. The new post-experience degree will enable MBA candidates at any of the four European or Asian schools to obtain an additional degree from MIT. Other participating schools are Fudan University in Shanghai, HEC Paris, and the SKK Graduate School of Business at Korea’s Sungkyunkwan University.

2008 MBA Orientation

West-Central China MBA Schools Faculty Development and MBA Capacity Building Program launched, June 25

MBA PROGRAM

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Tsinghua-INSEAD Dual-Degree EMBA Program Opens Second Class

The Tsinghua-INSEAD EMBA Program opened its second class on June 6, 2008. This year’s program attracted a group of 35 business elites from 12 nations, including China, the United States, France, Australia, Canada, Singapore, Germany, the Netherlands, India, Mongolia, Malaysia, and South Korea. The class has 26 students from abroad, making up 78% of the total. Participants have an average age of 38 and 14 years of business experience.

Launched in 2006, the Tsinghua-INSEAD Dual Degree Executive MBA Program is the first of its kind in China, combining international business education with a focus on Asia. Upon successful completion of the program, participants will be awarded two prestigious degrees: an EMBA degree from Tsinghua University and an MBA for Executives degree from INSEAD. Graduates become alumni of both schools.

EMBA Students Visit MIT

In late June of 2008, nearly 50 EMBA students spent a week in the United States at MIT’s Sloan School of Management. This was Tsinghua EMBA’s fifth visit to MIT since the program’s inception in 2004. Most of the students were from the Class of ’06 and ’07. The Tsinghua EMBA delegation, headed by Associate Dean Liao Li,

received a warm welcome from MIT Sloan during their stay in the U.S. Students also visited the Skadden law firm and John F. Kennedy Library and Museum.

6th Tsinghua EMBA Graduation Forum Held

192 EMBA students completed their course requirements and received Executive Master of Business Administration (EMBA) degrees from Tsinghua University on July 5, 2008. This was also the date of the sixth Tsinghua EMBA Graduation Forum.

Divided into three sessions, the Saturday forum covered the topics of “sustainable growth for large-scale enterprises”, “challenges in enterprise development－a strategic perspective,” and “transformation and innovation in marketing”. 2006 EMBA graduates from Classes E, D and F announced a donation of RMB 500,000 to launch the Tsinghua EMBA-06 EDF Scholarship program. Managed by the Tsinghua Alumni Association, the fund will assist disadvantaged undergraduates from Sichuan at Tsinghua.

Tsinghua EMBA Alumni Association Founds Local Branches in Shanxi and Hubei

Thi s yea r, t he Ts inghua EMBA Alumni Association founded local branches in Shanxi

on June 7 and in Hubei on October 10. EMBA alumnus Zuo Yihe, currently a deputy director-general at the Department of Agriculture of Shandong Province, was elected to chair the Shanxi Alumni Association. The Hubei Alumni Association is chaired by Sun Jianhua, a general manger at South China Airlines. The new associations are the 21st and 22nd branches of the Tsinghua EMBA Alumni Association.

Tsinghua’s EMBA Mobile Campus Comes to Taiyuan, Wuhan and Xiamen

Tsinghua’s EMBA Mobile Campus set up shop in Taiyuan in June 2008, moving on to Wuhan in October and Xiamen in November. In Taiyuan, a four-day Marketing Management course drew top executives from over a hundred companies across China, who also found time to attend lectures, visit businesses and see the local sights. The Xiamen program featured two courses, Corporate Mergers and Marketing Management, along with a forum on “The Financial Crisis and Its Impact on China.” Participants also toured Xiamen’s corporate giants, including TAECO, Dell, Hualian Electronics and Yinlu Foods. The first program of its kind in China, the mobile campus is an integral part of EMBA education at Tsinghua, combining classroom instruction with hands-on experience. Each class convenes annually.

Class debate, Tsinghua-INSEAD Dual-Degree Program

SEM EMBA delegation at MIT Sloan, June 2008

EMBA PROGRAM

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Tsinghua SEM Joins Goldman Sachs’ 10,000 Women Initiative

The Tsinghua University School of Economics and Management announced its partnership with the Goldman Sachs 10,000 Women initiative on September 15. The 10,000 Women program supports partnerships with universities and development organizations to provide a generation of women in under-served areas around the world with a business and management education. On the day, Tsinghua SEM partnered with HEC Paris to create the 10,000 Women Entrepreneurship Track Program for China’s under-served female entrepreneurs. The program will train Chinese women who operate their own businesses or aspire to do so. Over a five-year period, the certificate program will provide 450 women with an integrated entrepreneurial and managerial education. The first class is scheduled to begin on the Tsinghua campus in 2009.

On December 11, Goldman Sachs Chairman and CEO Lloyd C. Blankfein announced that the Tsinghua University School of Economics and Management (SEM) would expand its role in the Goldman Sachs 10,000 Women initiative by launching an innovative new partnership with the Yale University School of Public Health. Together, Yale and Tsinghua will offer a training program in business and management education for mid-level and senior managers in health care. The curriculum will cover scientific issues including health care organizations, quality management and evaluation, HR management, financial management, crisis management and leadership. Scheduled to begin in 2009, it will ultimately train 500 managers in the healthcare sector over the next five years.

Private Equity and Venture Capital China Opens First Class

A joint effort by Tsinghua SEM and Harvard Business School, the Private Equity and Venture Capital China program opened its first class October 15-18, 2008. 54 financial and investment professionals from the Asia-Pacific region attended. Courses were taught by Professor Liao Li, Associate Dean of Tsinghua SEM, and by Professors Josh Lerner and Lee

Goldman Sachs Chairman and CEO Lloyd C. Blankfein discusses the Goldman Sachs 10,000 Women Initiative at Tsinghua SEM

China Mobile CEO Wang Jianzhou speaks at Tsinghua SEM

King from Harvard Business School. All 54 participants were employees at the decision-making level of their companies.

Tsinghua SEM Launches 2008 Undergrad-EDP Career Guidance Program

Tsinghua SEM launched its 2008 Undergrad-EDP Career Guidance Program on October 29. Designed as a platform for communication between EDP scholars and undergraduates, the program encourages Tsinghua SEM students already in mid-career to offer undergraduate classmates the benefit of their personal and professional advice. EDP scholars have responded positively. For these executives from China’s top corporations, the program is an opportunity to share their life stories and professional experience—and to discover the Tsinghua spirit through their discussions with undergraduates. Scheduled to continue through the end of December, the program includes large-scale group activities as well as one-on-one interaction.

China Mobile CEO Wang Jianzhou Attends Forum on Best Practices for Chinese Corporate Management

On the evening of October 30, 2008, the seventh in a series of lectures connected with the Forum on Best Practices for Chinese Management was held in the auditorium of the Weilun Building. The forum is co-sponsored by Tsinghua SEM’s Executive Development Program (EDP) and the Tsinghua University Research Center for Contemporary Management and Technological Innovation.

The evening’s guest of honor was Wang Jianzhou, chairman and CEO of China Mobile, who spoke on the topic “In Search of a Business Approach for Telecom Corporations”. Mr. Wang used his speech to explain management practices at China Mobile, citing the company’s efforts in the areas of service coverage, quality, reliability, creativity, rural market development, social responsibility and developing an international perspective. Also in attendance were Tsinghua University Dean Qian Yingyi; Professor Zhao Chunjun, chair of the forum’s organizing committee and director of the Research Centers for Contemporary Management and Technological Innovation and for Innovation in Philosophy and the Social Sciences; and Professor Yang Bin, secretary of the University Party Committee and of the forum organizing committee.

EXECUTIVE DEVELOPMENT PROGRAM

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only key project of its kind to be accepted by the Department of Management Sciences in over a decade. Many Tsinghua SEM faculty contributed to the research.

Tsinghua SEM faculty also had the good fortune to win two key NSFC projects: “Study on the Methodology Basis of Econometric Models”, funded by National Foundation of Philosophy and Social Science, China., a project for the National Social Sciences Foundation overseen by Professor Li Zinai, and “Information Systems Adoption, Diffusion, Development, and Business Value” for the National Natural Sciences Foundation, overseen by Professor Huang Jinghua. In both cases, the research team includes a large number of Tsinghua SEM faculty. The school also won a number of general and youth projects for the National Natural Sciences Foundation and the National Social Sciences Foundation.

Tsinghua SEM Faculty Members Receive Inaugural McKinsey China Economics Award

The McKinsey China Council of Business Economists recently announced recipients of the Inaugural McKinsey China Economics Award. Associate Professor Chi Wei from the Department of Human Resources and Organizat ional

2 SEM Studies Honored for Excellence in Philosophy and Social Sciences Research

Recipients of the Tenth Beijing Awards for Excellence in Philosophy and Social Sciences Research were announced in the second half of 2008. Tsinghua SEM research garnered two awards, with the top honor going to Professor Gao Jian of the Department of Technical Economics and Management for his study “The Global Entrepreneurship Monitor (GEM) 2006 China Report”. Professor Wu Guisheng, who teaches in the same department, was also recognized for his study “On Regional Science and Technology”.

SEM Project Judged “Outstanding” by NSFC panel

During the second half of 2008, an expert panel convened by the Department of Management Sciences under the National Natural Science Foundation Committee reviewed a key project overseen by Tsinghua SEM professor Chen Guoqing. The panel was highly impressed with the findings and direction of the project, titled “Studies on Internet-Based Management Information Systems”. Noting that the research had surpassed its goals in terms of both quality and quantity, they gave it a final evaluation of “Outstanding.”

2007 China Entrepreneurship Monitor Report Issued

T h e T s i n g h u a U n i v e r s i t y N a t i o n a l Entrepreneurship Research Center issued its 2007 China Entrepreneurship Monitor Report on July 16, 2008. According to the report, China has entered the “Opportunity Entrepreneurship” phase. This is the Center’s sixth such report since the program’s inception in 2002.

Great Strides in Applications for Key NSFC Projects

An announcement on research approval for 2008 indicates that Tsinghua SEM has made great strides in applying for NSFC projects. A key NSFC project overseen by Professor Chen Guoqing, “Research on Major Fundamental and Technological Issues in Emerging E-Business” received approval following an intensely competitive selection process. Submitted jointly by the NSFC Departments of Management Sciences, Information Sciences, and Mathematical & Physical Sciences, this was the

Laura D’Andrea Tyson (center), a UC Berkeley professor and economic advisor to US President-elect Barack Obama, presents the inaugural McKinsey China Economics Award to Chi Wei (right) and Li Bo (left).

Behavior and Assistant Professor Li Bo from the Department of Management Science and Engineering were honored for their paper on the gender pay gap in China’s urban labor market. Presented by the McKinsey China Council of Business Economists (MCCBE), the award recognizes young Chinese economists under the age of 40 for their work in the field of Chinese economics.

Professor Bai Chong-en Wins First Pushan-BOC Award for Outstanding Papers in World Economics

The first Pushan-BOC Awards for Outstanding Papers in World Economics were announced on November 13, 2008. The top prize went to a paper titled Size of Government, Rule of Law and the Development of the Service Sector by Professor Bai Chong-en, Chair of Economics at Tsinghua SEM, his post-doctoral student Wang Dehua, and his doctoral student Zhang Zaijin. Top honors were awarded to two papers chosen from among 54 submissions. The six-month selection process included three rounds of voting by the Executive Council Members of the China Society of World Economics, the Pushan-BOC Awards Expert Selection Panel, and the Pushan-BOC Awards Selection Committee.

RESEARCH

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2008 Annual Retail Forum HeldThe 2008 Annual Retail Forum, hosted by Tsinghua SEM’s China Retail Research Center, was held on December 3, 2008. This year’s theme was “The Chinese Retail Industry over Three Decades: Enhancing Customer Satisfaction.” The Center presented its latest study, “Research on Satisfaction in China’s Retail Industry,” and scholars and industry professionals exchanged insights and cutting-edge ideas on the future of retail. This was the third meeting of the annual forum, which has become one of the retail industry’s most influential gatherings.

1st China Service Innovation Workshop HeldThe first China Service Innovation Workshop, held at Tsinghua SEM on December 9-10, 2008, attracted scholars from more than 10 domestic universities and academic institutions, along with representatives from the government, business and media sectors. Speeches and discussions focused on four topics: “Service Innovation and Service Economy”, “Innovation in China’s Typical Service Industries”, “Knowledge-Intensive Business Service”, and “Corporate Service Innovation”. The field of service innovation studies has a twenty-year history internationally, but Chinese research in this area began only in 2002. This conference, the first of its kind in China, promotes communication by bringing together experts in service innovation. It is designed to consolidate current research in the field, strengthen ties and build an academic community.

International Green Leap Initiative Workshop Held The International Green Leap Initiative Workshop, held on December 8th at Tsinghua SEM, was a joint effort by Tsinghua University’s Research Center for Technological Innovation, the University of Michigan’s William Davidson Institute, and

Cornell University’s Johnson School of Management. Over 40 representatives from the government, academic and NGO communities attended. Professor Stuart L. Hart, a Distinguished Fellow at the William Davidson Institute, and Dr. Mark Milstein, director of Cornell’s Center for Sustainable Global Enterprise delivered speeches at the Conference. Professor Hart’s “Green Leap” program has been investigated and developed through business models in India and other developing countries. December’s workshop marked the launch of the project in China.

Seminar for E-Business Development and Chinese Corporate Practices HeldThe Seminar for E-Business Development Chinese Corporate Practices took place at Tsinghua SEM on December 5-6, 2008. Focusing on the latest developments in e-commerce and the practices of Chinese corporations, the seminar also covered important theoretical and practical issues affecting e-businesses in China. Participants also discussed key programs presided over by Professor Chen Guoqing, Executize Associate Dean of Tsinghua SEM. The seminar drew an audience of more than 80 from the academic and business communities.

2008 China International Conference in Finance HeldThe 2008 China International Conference in Finance (CICF2008) was held in Dalian, Liaoning Province on July 2-5, 2008. Co-organized by Tsinghua University’s China Center for Financial Research and MIT’s Sloan School of Management, the conference drew an audience of over 400 from China and abroad. 742 papers (524 in English) were submitted to the conference, with 240 accepted, including 65 papers in Chinese and 175 in English. Topics covered 39 areas including corporate finance, investment and risk management, and asset pricing.

12th International Congress on Insurance: Mathematics and Economics Held in DalianThe 12th International Congress on Insurance: Mathematics and Economics took place in the northeastern Chinese city of Dalian on July 16-18, 2008. Co-organized by Tsinghua SEM and the School of Finance at Dongbei University of Finance and Economics, IME 2008 was the first IME conference hosted in Asia. The conference comprised 28 sessions and 157 academic talks. Discussions covered a range of topics including Finance, Risk Theory, Nonlife Insurance, Economics of Insurance, Pension Mathematics, Life Insurance, Insurance Market and Empirical Study.

Insurance: Mathematics and Economics(IME) is a world-leading academic journal in the field of insurance and actuarial science. Over the past nine years, the IME Congress has gained a reputation as one of the leading actuarial conferences worldwide, offering researchers—both actuaries and non-actuaries—an opportunity to present their latest work in the field of actuarial science. Seminar for E-Business Development and Chinese

Corporate Practices, December 5, 2008

Chinese Business Strategy and Development Forum, June 10, 2008

China Business Strategy and Development Forum Held

On June 10, 2008, the China Business Strategy and Development Forum was held at Tsinghua SEM, commemorating the 30th anniversary of China’s “reform and opening” policy. The event was organized by the Department of Business Strategy and Policy. Government officials from the National Development and Reform Commission (NDRC) and the Development Research Center of the State Council joined Tsinghua SEM professors to discuss China’s current macro-economic situation and business strategy reform. The forum drew an audience of more than 150, including SEM faculty members, students, media representatives and top professionals from the business community. In their discussion, participants noted China’s achievements over the past three decades in such areas as economic development, system reform, enterprise growth and business strategy management theory; meanwhile, they also expressed their concerns over the future of China’s economy and the growth of its enterprises, proposing strategies for addressing the challenges facing the nation.

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President Gu Binglin (third from right) and CDB Governor Chen Yuan (third from left) inaugurate the CDB Lecture Hall, November 13.

Tsinghua University Partners with China Development BankTsinghua University and China Development Bank (CDB) have announced the establishment of the Tsinghua–CDB Research Institute, following a general cooperative agreement signed on November 13. China Development Bank Governor Chen Yuan and Tsinghua University President Gu Binglin attended the signing ceremony. Chen noted CDB’s contributions to reforming China’s investment and financing systems, adding that he looked forward to a partnership combining Tsinghua’s abundant academic resources with CDB’s extensive practical experience. The Research Institute will function as a platform for the further development of China’s economy, he said. Chen also expressed his hope to see the Research Institute become one of the most influential think tanks in China and in the world.

President Gu said that Tsinghua was partnering with CDB to strengthen research on strategic planning and the financial situation. He noted plans for related professorships and scholarship programs to designed to develop the full potential of faculty and students. The partnership offers Tsinghua an opportunity to expand its role in training professionals for the financial industry, Gu said, as well as to promote the sustainable development of Chinese society.

The ceremony was attended by Qian Yingyi, Dean of Tsinghua SEM, along with faculty and student representatives.

Tsinghua SEM Expands Partnership with INSEAD

Dean of INSEAD Frank Brown visited Tsinghua SEM and met with Dean Qian Yingyi on September 23, 2008. The deans discussed the expansion of the schools’ partnership in a new educational environment. A memorandum of understanding signed at the meeting reaffirmed the schools’ commitment to stronger cooperation through the Tsinghua-INSEAD dual degree program. Brown and Qian also agreed to expand faculty exchanges and cooperation in leadership-skills development.

Tsinghua SEM Partners with Citigroup in Financial Education Hub

The Citibank Group has donated US $1.2 million to Tsinghua SEM to set up the Tsinghua-Citi Financial Education Hub. The three-year program will focus on researching the financial behavior of Chinese consumers along with related financial trends and issues.

Following the launch ceremony, Professor Liao Li, Associate Dean of Tsinghua SEM, presented the program to the media. According to Professor Liao, the Tsinghua-Citi Program will promote consumer-oriented financial education with a focus on the Chinese financial system. It will conduct annual consumer surveys, host annual seminars, hold training sessions for finance reporters and instructors, and offer on-line lectures.

The Annual Tsinghua-Citi Consumer Survey will select 2000 families from a variety of ethnic,

economic and regional backgrounds, investigating financial knowledge, services and education as well as personal investment behavior. Survey results will be released in a series of studies and papers. Citibank China CEO Ou Zhaolun said he was delighted to see Citigroup and Tsinghua partnering on a program of this magnitude. Ou hopes the program will contribute to research on Chinese consumers’ financial behavior, as well as raising consumer, media and academic awareness of the importance of financial education.

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Tsinghua University and China Development Bank (CDB) announce plans for Tsinghua–CDB Research Institute

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Luis Díaz Silva, director-general of the Social Division under Chile’s Ministry of Planning, speaks at Tsinghua SEM

Chinese Government Honors Tsinghua SEM Guest Professor John Thornton

The 2008 Friendship Awards were announced on September 27, 2008 at the Great Hall of the People, with 50 foreigners receiving the honor. Among the winners was John L. Thornton, a guest professor at the Tsinghua University School of Economics and Management and Fellow of the American Academy of Arts and Sciences. Chinese Premier Wen Jiabao and Vice-Premier Zhang Dejiang met with the recipients.

The Friendship Award is the highest honor conferred by the Chinese government on foreign experts working in China. In November, Professor Thornton was honored as one of the “most influential overseas experts in China over the past three decades.” The list of 15 renowned international authorities included Chinese-American architect Ieoh Ming Pei and Chinese-American Nobel physics laureates Yang Chen-ning and Lee Tsung-dao.

Thornton, a former president and member of the Board of Directors at Goldman Sachs, has served on Tsinghua SEM’s Advisory Board since 2000. He has been a guest professor and director of the school’s Global Leadership Program since 2003.

Dean Qian Yingyi Attends HBS Centennial Global Business Summit

The Harvard Business School (HBS) Centennial Global Business Summit took place on October 12-14. Dean Qian Yingyi attended and spoke at a panel discussion on the topic of “China in the World Economy.” The Global Business Summit, which culminated HBS’ centennial celebrations, focused on three themes: leadership, globalization and the future of the market economy. Keynote speakers included Microsoft founder Bill

Gates, historian Niall Ferguson and economist Lawrence Summers. In 2007 Qian was invited to serve on the HBS Board of Dean’s Advisors, with a term extending to 2010. He is the board’s only member from mainland China.

Top Chilean Government Officials Visit Tsinghua SEM

A group of Chilean officials visited Tsinghua SEM on December 4, 2008, attending a seminar with the theme of “challenges facing 21st century society.” The delegation was headed by Luis Díaz Silva, director-general of the Social Division under Chile’s Ministry of Planning, and Fernando Reyes Matta, the Chilean ambassador to China.

The visitors joined SEM professors to discuss sustainable development in developing countries. Noting Chile’s recent efforts to promote economic growth and build a harmonious society, Reyes Matta said he hoped the two nations could learn from one another and achieve their shared goal of sustainable development. The December seminar was the second high-level meeting of its kind since the signing of a partnership agreement between Tsinghua SEM and Pontificia Universidad Católica de Chile in November 2006.

Tsinghua SEM Establishes Research Center for Health Care Management

Tsinghua SEM launched its Research Center for Health Care Management on December 16, 2008. Intended to promote the study of Chinese health care policy and management, the Center will focus on research in these areas, as well as advancing the field of hospital management. It will also offer policy proposals and consulting services for government-run hospitals and other organizations, function as a platform for theoretical and applied research in health care, promote the development of the industry, train health care professionals, and contribute to international communication in the field. The Center is sponsored by Jiangsu Chia-tai Tianqing Pharmaceutical Corporation Limited.

Tsinghua SEM Guest Professor John L. Thornton

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sem forumSung Joo Park, KAIST Business School, KoreaTopic: What Happened in Samsung?－ An Asian Management PerspectiveDate: June �, �00�

XIA Bin, Director, Financial Research Institute, State Council Development Research CenterTopic: Current Economic Situation and Currency PolicyDate: June ��, �00�

DUAN Yongji, Founder, Sitong Corporation Topic: Sitong Corporation and Lessons for Private Corporation Development in ChinaDate: June ��, �00�

Famous futurist John NaisbittTopic: Megatrends ChinaDate: September ��, �00�

XU Luode, President, China UnionPayTopic: The Chinese Bank Card Industry and Its Future: A Global PerspectiveDate: September ��, �00�

Fredmund Malik, Leading European manager and educatorTopic: Wholistic Management for Mastering Complexity in Dramatic & Challenging TimesDate: October ��, �00�

Professor Josh Lerner, Harvard Business SchoolTopic: The Private Equity and Venture Capital in the US: A Review Date: October ��, �00�

Charles Li, Chairman, JPMorgan ChinaTopic: Inside the Storm on Wall Street Date: October ��, �00�

WANG Jianzhou, CEO, China MobileTopic: Operation and Management of Telecom Enterprises Date: October �0, �00�

Pierre G. Mirabaud, Chairman, Swiss Bankers Association (SBA), Senior Partner, Mirabaud & Cie, GenevaTopic: Swiss Banking after the Financial CrisisDate: November ��, �00�

Tony Hayward, Chief Executive Officer, BP GroupTopic: Delivering Energy for Sustainable GrowthDate: November ��, �00�

Lloyd C. Blankfein, Chairman and CEO, Goldman SachsTopic: Entrepreneurship and the Goldman Sachs �0,000 Women Initiative Date: December ��, �00�

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