TRANSFORMING THE FUTURE OF FINANCE

Transcription

TRANSFORMING
THE FUTURE OF FINANCE
MISSION
To promote excellence in the finance industry and financial
regulation through top-notch education and cutting-edge
research.
Tsinghua University PBC School of Finance
CONTENTS
Deans' Messages4
About Tsinghua University 5
About Tsinghua PBCSF
6
Overview6
History7
The Board
8
The Academic Advisory Committee 9
The Strategic Council
9
Programs10
Ph.D. in Finance
Master of Finance
Finance EMBA
Dual-Degree Finance MBA
Global Finance GFD
Executive Education
12
14
16
18
19
20
Faculty24
Research30
National Institute of Financial Research,
Tsinghua University
China Finance Case Center
32
34
Tsinghua Financial Review36
* The information in this brochure is correct as of December
2014, unless otherwise noted.
Student life 38
International Programs
Campus Life
Career Development
38
40
41
Social engagement 42
Finance Media Fellowship Program
Tsinghua University China
Entrepreneur Camp
Chinese Fund Leaders of
Tomorrow Summer Camp
ezijing.com
ijiacai.com
44
45
46
47
Forums & Events
48
45
Alumni50
Deans' Messages
Deans’ Messages
We cultivate high-quality
financial professionals.
Xiaochuan Zhou
Honorary Dean
Tsinghua University PBC School of
Finance
Vice Chairman
The CPPCC* National Committee
Governor
The People’s Bank of China
Xiaoling Wu
Chairwoman and Dean
Tsinghua University PBC School of
Finance
Co-head
Tsinghua University National Institute
of Financial Research
Member
National People’s Congress (NPC)
Standing Committee
Vice Chairwoman
NPC Finance and Economic Committee
Former Deputy Governor
On March 29, 2012, the PBC School of Finance at
Tsinghua University (Tsinghua PBCSF) was founded. The
School was first established three decades ago as the
Graduate School of the People's Bank of China, which
had already been an intellectual home to some of Asia’s
finest financial minds.
Building on the success of its predecessor, Tsinghua
PBCSF has introduced outstanding faculty, partnered
with world leaders in business education, and forged
strategic partnerships with renowned institutions to break
new ground in financial education and research. With its
unparalleled access to Tsinghua University's substantial
academic resources and close connections with the
financial industry, the School will continue to act as a
platform for the cultivation of innovative financial talent, as
well as the home of a top financial think tank, the Tsinghua
University National Institute of Financial Research (NIFR).
* Chinese People's Political Consultative Conference
4
About Tsinghua University
About
Tsinghua
University
19
55
Tsinghua University was established in 1911,
originally under the name "Tsinghua Xuetang". The
school was renamed "Tsinghua School" in 1912.
The university section was founded in 1925. The
name "National Tsinghua University" was adopted
in 1928.
66
39
The faculty greatly valued the interaction between
Chinese and Western cultures, the sciences and
humanities, the ancient and modern. Tsinghua
scholars Wang Guowei, Liang Qichao, Chen
Yinque and Zhao Yuanren, renowned as the
"Four Tutors" in the Institute of Chinese Classics,
advocated this belief and had a profound impact on
Tsinghua's later development.
54
8
Tsinghua University was forced to move to Kunming
and join with Peking University and Nankai University
to form the Southwest Associated University due to
the Resistance War against the Japanese Invasion in
1937. In 1946 The University was moved back to its
original location in Beijing after the war.
After the founding of the People's Republic of
China, the University was molded into a polytechnic
institute focusing on engineering in the nationwide
restructuring of universities and colleges undertaken
in 1952. In November 1952, Mr. Jiang Nanxiang
became the President of the University. He made
significant contributions in leading Tsinghua to
become the national center for training engineers
and scientists with both professional proficiency and
personal integrity.
Since China opened up to the world in 1978,
Tsinghua University has developed at a breathtaking
pace into a comprehensive research university.
At present, the university has 19 schools and 55
departments with faculties in science, engineering,
humanities, law, medicine, history, philosophy,
economics, management, education and art. The
University has now over 43,112 students, including
15,408 undergraduates* and 27,704 graduate
students*. As one of China’s most renowned
universities, Tsinghua has become an important
institution for fostering talent and scientific research.
The educational philosophy of Tsinghua is to "train
students with integrity". Among over 120,000
students who have graduated from Tsinghua since
its founding are many outstanding scholars, eminent
entrepreneurs and great statesmen remembered
and respected by their fellow Chinese citizens.
With the motto of "Self-Discipline and Social
Commitment" and the spirit of "Actions Speak
Louder than Words", Tsinghua University is
dedicated to the well-being of Chinese society and
to world development.
Schools
Departments
Bachelor’s programs
National key disciplines*
First-tier graduate degree awarding units*
First-tier master’s degree awarding units*
3291
41
34
Faculty members
Members of Chinese Academy of Sciences
Members of Chinese Academy of Engineering
15408
Undergraduates*
17419
10285
Doctoral students*
Master’s degree students*
1
13
National laboratory (under development)
National key laboratories
7
393.97
National engineering laboratories
hectare campus
(not including the affiliated hospitals)
*including the Peking Union Medical College, Tsinghua University
Data as of December 2013
5
About Tsinghua
PBCSF
Thirty Years of Financial Reform
Thirty Years of Educational Excellence
Overview
The PBC School of Finance, Tsinghua University’s
17th school, was founded on March 29, 2012
as a joint venture between the University and the
People's Bank of China (PBC).
Capitalizing on Tsinghua’s teaching and research
resources and the School’s connections with the
financial industry, Tsinghua PBCSF has become
a world-class financial education institution and a
leading center of financial research.
The School offers Ph.D. in Finance, Master of
Finance, Dual-Degree Finance MBA, Finance
EMBA, Global Finance GFD, and Executive
Education programs. Through these programs, it
contributes to China’s pool of high-level, innovative
and globally competitive financial professionals.
Also through the Tsinghua University National
Institute of Financial Research, a top think tank in
finance, it produces research that is transforming
the future of the Chinese financial services
industry.
World-class
finance faculty
Elite academic
degree program
Strategic
Positioning
Top professional
and executive
programs
6
Strong finance
and policy
research teams
History
1981
The Graduate School
of the People's Bank of
China Research Institue
of Finance and Banking
established
First master’s degree
program offered
1987
First four doctoral
students enrolled
For the last thirty years, the School’s dedication and passion for financial education and
research have developed it into an intellectual hub for China’s financial talent, an active
participant in China's economic development, and a key facilitator of Chinese financial reforms.
As of July 2014, 2030 alumni have graduated here, including ten ministerial level officials.
The School's accomplished alumni proudly claim many titles in their contributions to the
recent transformation of China's economic and financial landscape. These include:
Authors of China Financial Reform Strategy Framework, known as the “Blue Book” of
China's financial reform
Establishing China’s first joint-stock commercial bank: China Merchants Bank
First general manger of China’s first securities firm: Shenzhen SEZ Securities
First president of China’s first listed bank: Shenzhen Development Bank
1994
2012
Renamed the Graduate
School of People’s Bank
of China
Founding China’s first mutual fund: Fudao Fund
Managing the largest domestic debt restructuring: Yuehai Group Restructuring
Creating China’s first standardized bank card system: UnionPay
Tsinghua University
PBC School of Finance
established
7
The Board
At Tsinghua PBCSF, the deans work closely with the Board,
which serves as the bridge between academia and industry.
Drawing on the experience and expertise of its members, the
Board plays a vital role in ensuring the superb quality of the
School’s education programs and research efforts.
We aim to build a top-tier financial
education institution through
the continued development
of the traditions of both the
Graduate School of PBC and
Tsinghua University, and through
an emphasis on developing our
students' domestic knowledge and
international perspective.
Hongru Liu
Xiaoling Wu
Honorary Chairman
The People's Bank of China
Founding Chairman
China Securities Regulatory
Commission
Chairwoman
Co-head
Tsinghua University National
Institute of Financial Research
Member
National People’s Congress
(NPC) Standing Committee
Vice Chairwoman NPC Finance and Economic
Committee
Former Deputy Governor The People’s Bank of China
Hongru Liu
Members
(In alphabetical order)
8
Jianping Cheng
Jinfu Du
Gongsheng Pan
Jianhua Wan
Executive Vice President
Tsinghua University
Commissioner of Discipline
Inspection
China Banking Regulatory
Commission
Deputy Governor The People’s Bank of China
Representative of
Liu Hongru Financial
Education Foundation
Chairman of the Board Guotai Junan Securities
Zhaoxing Wang
Weihe Xie
Zhiping Zhang
Yanli Zhou
Xinyi Zhuang
Vice Chairman
Commission
Vice President
Tsinghua University
Representative of school
alumni
Chairman
Oriental Patron Financial
Group
Vice Chairman
China Insurance
Regulatory Commission
Vice Chairman
China Securities
The Academic Advisory Committee
The Academic Advisory Committee is responsible for advising on teaching,
research, and social service at Tsinghua PBCSF. It provides advice pertaining
to mid- to long-term disciplinary planning, faculty development, educational
programs, and policy research directions.
Members
Weihua Ma
Former President and CEO
China Merchants Bank
Binglin Gu
Chairman
Former President
Tsinghua University
E’sheng Cai
Haoming Chen
Xiaoxue Li
Yongtu Long
Former Vice Chairman
Commission
Former Executive
Associate Dean
Tsinghua University
Graduate School
Former Commissioner of
Discipline Inspection
China Securities
Former Chief Negotiator and
Vice Minister
Ministry of Foreign Trade and
Economic Cooperation of China
Shangjin Wei
Yingning Wei
Qu Zhang
Chunjun Zhao
Professor of Finance and
Economics
Columbia University
China Insurance
Former Vice President
Industrial and Commercial
Bank of China
Former Dean
Tsinghua University
School of Economics and
Management
Congjiu Zhu
Chao Li
President
Vice Governor
Zhejiang Province
Vice President
Deputy Administrator
State Administration of
Foreign Exchange
Wenzhong Fan
Haiqing Huang
The Strategic Council
The Strategic Council consists of department or bureau heads
from financial regulators, as well as senior executives from major
financial institutions. The council provides guidance on strategic
planning, course design, and research efforts.
Members
Boming Cheng
General Manager Director-General
CITIC Securities
International Department,
Commission
Vice Mayor
Xi’an Municipal People’s
Government
Xuewen Huo
Zhihong Ji
Bo Jiang
Luo Jin
President
Shanghai Stock Exchange
Secretary of Party Committee
Beijing Municipal Bureau of
Financial Work
Director-General
Financial Market Department,
the People’s Bank of China
Director-General
China Insurance Regulatory
Commission
Inspector
Financial Stability Bureau,
Zhongxia Jin
Bo Li
Lei Lu
Xi Luo
Jianmin Miao
Director-General
Research Institute of
Finance, the People’s Bank
of China
Director-GeneralDirector-General Monetary Policy Department II,
Research Bureau,the People’s
Bank of China
President
China Export & Credit
Insurance Corporation
President
China Life Insurance (Group)
Bin Qi
Liping Song
Daochi Tong
Lin Wang
Yuanqi Xiao
Director-General
Department of International
Affairs, China Securities
President
Shenzhen Stock Exchange
Assistant Minister
Ministry of Commerce
Director-General
Department of Fund and
Intermediary Supervision,
Commission
Director-General
Banking Supervision
Department I, China Banking
Zhiguo Xiong
Yujin Zeng
Chenghui Zhang
Jianhua Zhang
Director-General
Research Institute of Finance,
Development Research
Center of the State Council
President
Hangzhou Central Subbranch, the People's Bank
of China
Shenfeng Zhang
Hongyuan Huang
Director-General
Policy Research Department,
Commission
Director-General
Insurance Fund Management
Regulatory Department,
Commission
Xiaohui Zhang
Xiaoling Zhang
Yujun Zhang
Daoxu Zhou
Director-General
Monetary Policy Department,
Deputy General Manager
China Asset Management Co.,
Ltd.
Assistant Chairman
Commission
Deputy Secretary General
Financial Affairs Office,
Guizhou Provincial
Government
Chairman
China Financial Futures
Exchange
Yuchen Zhu
President
Shanghai Pudong
Development Bank
9
Programs
Programs
Tsinghua PBCSF offers Ph.D. in Finance, Master of
Finance, Dual-Degree Fiance MBA, Finance EMBA, Global
Finance GFD, and Executive Education programs. The
School attaches great importance to innovation throughout
all aspects of the curricula in order to provide students not
only with academic knowledge and practical abilities, but
also with local insight and a global vision.
We develop leaders who will redefine
financial practices and policies.
Programs
Ph.D. in Finance
About
Here you will meet elite
classmates, learn from
the masters, and start a
successful career.
Ya Liu - Ph.D. 1995, vice president of the University of
International Business and Economics
The Ph.D. in Finance program has been developing world-class
financial talent since 1987.
The program includes doctoral candidates recruited by Tsinghua
University as well as those co-trained by the Research Institute
of Finance and Banking at the People's Bank of China. All
doctoral graduates are awarded the degree and diploma of PhD
in Applied Economics conferred by the University. Co-trained
doctorates can obtain a diploma from the Research Institute in
addition to the Tsinghua degree and diploma.
Students admitted to the Ph.D. program will normally be
expected to spend three to four years of full-time or part-time
study at the School, but direct-doctoral track students are
expected to spend four to five years finishing their doctoral study.
Goals
The program endows candidates with a strong and
comprehensive theoretical grounding in, and an in-depth
understanding of, global financial systems. The doctoral
graduates will be able to produce internationally relevant
research with both academic and practical value, and utilize
their expertise to produce solutions to industry challenges.
12
It is an honor to become one of the students
here at Tsinghua PBCSF’s 30th anniversary.
I am delighted and full of hope as I return to
study after several years in the workforce.
Fenquan Han - current Ph.D. student
Curriculum
Practice
Advanced Research on Current Financial Issues I, II
Monetary Policy and Financial Stability
Advanced Theory of Capital Markets
Advanced Corporate Finance Theory
Empirical Corporate Finance
Empirical Asset Pricing
Financial Tools
Mathematics in Economics
Advanced Mathematical Statistics
Stochastic Processes
Functional Analysis
Fundamentals
Advanced Micro-economics I, II
Advanced Macro-economics I, II
Advanced Econometrics I, II
Advanced Theory
Highlights
International Vision
The program focuses on developing doctoral students’
international vision and cross-cultural competency by
providing a variety of international exchange opportunities.
professionals, who are invited to lecture on the most
pressing issues concerning both domestic and global
financial markets.
Faculty
Academics
It enjoys a diversified industry faculty consisting of top
officials from the central bank and national financial
regulatory agencies, as well as practitioners from the
frontlines of industry.
Practicality
Its curriculum emphasizes the crafting of innovative
solutions and practical research, as well as the real-world
application of academic knowledge. Regulatory officials
and industry elite teach almost all upper-level courses.
Tsinghua PBCSF presents exclusive opportunities for
Ph.D. candidates to gain insight into industry trends, and
forge strong professional ties with leading experts and
Students are required to conduct extensive surveys on
critical financial issues in addition to research on their
individual dissertation topics. The School offers them
opportunities to attend academic and industry conferences
at both the national and international level.
Career
Graduates are widely employed in domestic and
international government agencies, financial institutions,
and academic organizations. With core competencies
including academic understanding of industry trends, realworld professional experience, and advanced research
background, students enjoy phenomenal career prospects.
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Programs
Master of Finance
With its commitment to
innovation and practice,
Tsinghua PBCSF has
already established
an impressive history.
Building upon both its
heritage and its status
as Tsinghua University’s
most innovative new
school, it’s on the way to
an even brighter future.
Boming Cheng -1987 Alumnus, general
manager of CITIC Securities
14
rns
Pro hip +
gra So
ms cia
l
Curriculum
Int
e
is
es
Th
Financial
Practice
Financial
Tools
Economic
and Financial
Theory
Career
Featured Lectures
Economic and
Financial Theory
Financial Practice
Financial Tools
Principles of
Finance
Topics on Practices of
Macroeconomic and
Financial Management
in China
Financial
Statistics and
Econometrics
Topics on Bank
Regulation and
Commercial Banking
Operation Management
Financial Data
Analysis and
Application
Fixed-income
Securities and
Interest Rate
Modeling
Topics on Capital
Markets
Financial
Derivatives
Market
Microstructure
Investment Management
in Financial Markets
Corporate Finance
Investments
Macroeconomics
and Finance
Topics on Insurance
Market
Career
Financial Development
and Career Planning
Leadership and
Professional Ethics
Financial
Statement
Analysis
About
The Master of Finance program began
enrolling students in 2013. With a strong
practice-oriented focus, the program builds
on the previous MS Finance program.
The program requires two to three years
of intensive study. A Tsinghua University
degree certificate and diploma will be
awarded upon graduation.
Micro Finance and
Financial Inclusion
Topics on Wealth
Management
Goals
Case Study for
Corporate Finance
The program is designed to equip students
with a wealth of professional expertise,
international vision, industry experience, and
academic insight. It provides students with
the financial skills sought by government
departments, financial institutions,
enterprises, and consultancy firms both in
China and abroad.
Foreign Business
School Courses
Foreign Central
Banking Courses
Highlights
Elite Faculty
With a combination of a dozen full-time faculty and more than
100 renowned financial experts and scholars, our students are
guaranteed a high-quality education. The program is committed
to preparing students to be future leaders in finance and
business.
insurance markets, the curriculum is ideal
for increasing students’ competencies and
effectiveness in today’s job market. Courses
are taught by a combination of school
faculty, government policy-makers, financial
institution executives, and school alumni.
Industry Insights
Career Prospects
Prominent leaders and researchers with years of success in the
industry guide students from the very beginning of the program.
They offer unique insights into Chinese financial markets,
international financial practices, and the latest industry trends.
Practice-oriented Curriculum
With a focus on the Chinese and international financial systems,
banking regulations, commercial banking, capital markets, and
Students will enjoy internship opportunities
with partner institutions. The employment
rate has been 100% for six consecutive
years since 2008, with job offers coming
from a wide range of employers, including
the central bank, financial regulatory
authorities, and other prestigious financial
institutions.
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Programs
Finance EMBA
Tsinghua PBCSF represents a
leading center of cutting-edge
financial knowledge. We benefit
from the knowledge and culture
of the School, which is of great
significance to us in terms of
enriching our lives and improving
ourselves.
Weigong Zhang – Finance EMBA Cohort No.1, chairman
of Sunshine Insurance Group
About
The Finance EMBA program, first established
in 2012, adopts an educational approach that
is closely aligned with the demands of China’s
financial reforms. Building on a wealth of
educational and industrial resources, the program
enjoys an unparalleled faculty composed mostly of
regulatory officials and industry elite. It is one of the
best EMBA programs in the Asia-Pacific region.
Facts
65%
70%
50%
40%
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Finance-focused Curriculum
of the curriculum is finance or
accounting-related.
Practice-driven Pedagogy
of the program faculty is composed of
industry leaders.
Diversified Students
students are from the finance sector
and 50% are from a range of other
industries.
Global Faculty
of the program faculty are from
outside China.
Curriculum
*overseas modules
Global Leadership
Finance Courses
Frontier Finance
Leadership
Corporate Finance
Chinese Capital Markets
Internet Finance
Competitive Strategy
Mergers and Acquisitions
Chinese Monetary Policies
Financial Derivatives and
Behavioral Finance
Managerial Economics
Tax Planning
Economic Reform
Financial Innovation and
New Issues
Organization and
Management
Financial Statement Analysis
and Financing Decision-making
Taxation Reform
Private Banking and Wealth
Management*
Cross-cultural
Communication
Fixed Income Securities
Financial Reform
Information and Knowledge
Management
Investment Theory and
Practice
Rural Reform
Trust Theory and Practice
Global Financial Systems
Insurance Reform and
Innovation
Financial Laws
Fund Theory and Frontier
Practice
International Financial
Regulation and Innovation
Commercial Banking Reform
and Innovation
Futures and Options
Venture Capital Investment
Development of Financial
Intermediaries
Highlights
Class Profile
Online Teaching
Educational background:
In addition to conventional classes, students gain access to a
wide variety of audiovisual materials created for laptops and
mobile phones, allowing them to study anytime and anywhere.
Bachelor’s degree or higher
Modularized Teaching
Master’s degree or higher
Courses are arranged into modules that teach
interdisciplinary skills, allowing students to more easily grasp
complex multistep processes.
EMBA degree
Industry Supervisors
Provinces and regions
domestically
Industry supervisors act as a platform allowing students to
engage with financial industry leaders and experts of great
influence and experience. Through this interaction, students
make full use of the rich industry resources the School has
accumulated over its 30-year history.
Tutorials
Tutorials are offered to equip students with the necessary
theoretical knowledge for advanced study. These courses give
students an overview of core skills to prepare them for highlevel study.
Regions represented:
Beijing
Background:
Business decision-makers
and top executives
95%
76%
40%
28
37%
100%
Companies represented：
Listed companies
66
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Programs
Dual-Degree Finance MBA
Goals
The Dual-Degree Finance MBA program
targets mid-level managers in financial
markets, professionals with a financial
background working in other industries,
and government employees in related
fields. The program strives to provide high
potential business leaders with strong
financial knowledge and management
skills while preparing them for their future
roles for leading Chinese businesses in an
increasingly globalized world.
About
Highlights
The Dual-Degree Finance MBA program is
PBC School of Finance’s joint venture with the
S.C. Johnson Graduate School of Management
at Cornell University. The program is 21
months in duration, with a total of 19 modules
plus overseas study trips. It adopts a bilingual
teaching approach, in order to achieve the
best pedagogical efficacy. The program will
be based at Tsinghua PBCSF in Beijing and
will include two intensive study trips to the U.S.
Faculty from both schools share the teaching
responsibility, each with 50% of the course
load.
China Meets the World
Upon graduation, students will earn a
degree of Finance MBA from the Tsinghua
PBCSF and an MBA in Finance from Cornell
University.
A Rich and Stimulating Academic Experience
This program adopts a standard core MBA curriculum, but its electives have a
greater focus on practical application in finance.
Combining the strengths of both the Tsinghua PBCSF and the Johnson School
at Cornell, the program endows talented finance professionals with broad
international vision and an unparalleled understanding of Chinese markets.
Exceptional Faculty
The joint efforts of these two schools form a unique pool of multicultural
faculty, which includes many famous experts and scholars from both the
financial industry and academia. Thanks to the wide-ranging specialties of both
universities, an abundance of electives are available to the students.
The program exposes students to an experience that can be found nowhere
else. Activities include workshops with residential Cornell MBA students,
online interaction with international scholars, inter-continental project
collaboration, business negotiation practica, case competition among
integrated student groups, and a “Wall Street Trek” immersion course.
Two intensive study trips, each lasting about two weeks, will give the students
a unique experience in the renowned Ivy League university. While there,
the students will take accelerated courses, connect with professors and
residential students, and meet people from around the world.
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Global Finance GFD
A Great Leap Forward in Global Financial
Practices and Financial Innovation
About us
Program Features
The program has an intensive focus on
domestic practice in China from global
perspectives. It is designed to further support
economic entities with solid and innovative
financial practices; it is also an opportunity
to join an elite forum for financial innovation
and industry and finance combination, an
opportunity to become global leaders with
academic insights, and an opportunity for indepth capacity building for senior executives of
large financial institutions and corporations.
Lead financial practitioners and entrepreneurs toward an academic framework
for critical thinking.
Utilize case studies and action learning in a much more significant way to identify,
analyze and finally solve real-life problems.
Equip participants with strategic mindset and global insights from a financial
perspective, and establish financial awareness in industries and elevate to the
next level.
Incorporate systematic research methodologies and skills with globally integrated
resources and financial practice in key industries.
Emphasize on both academic training and real-world practice in a collaborative
team environment.
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Programs
Executive Education
About
The Executive Education programs utilize
the School’s faculty resources and Tsinghua
University’s vast collection of research to offer
custom, open-enrollment and certification
programs.
Goals
Programs
The Executive Education programs develop leaders who will
direct the growth of the finance industry. These world-class
programs are grounded in the latest industry trends and rely
on both global and domestic resources to address current
and future challenges.
Custom Programs
Highlights
The Executive Education programs are known for their close
integration of theory and practice. The program faculty is
composed of world-renowned scholars and executives from
a wide range of domestic and overseas entities. By including
studies in finance, economics and management, and in the
latest technological development and social phenomena, the
Executive Education programs offer courses for professionals
and institutions in the financial industry.
Custom programs are targeted at mid- to
senior-level executives and veteran financial
professionals, with curricula specifically
designed to encourage new development
strategy and innovative industry practices.
In order to meet the demands of the clients,
each program has a faculty director to lead the
design and delivery of the program.
Open-enrollment Programs
Open-enrollment programs meet the
requirements of both non-financial executives
and financial professionals, addressing
developments in international affairs, industry
innovation, and market trends. The programs
can be long or short term.
Certification Programs
The certification programs are devoted to
improving the professional skills for both
financial and non-financial professionals,
and promoting the standard setting of the
domestic financial industry.
20
The 2013 Global Family Business Program in Switzerland
Representative Programs
Family Business Program (for families in business)
Tsinghua PBCSF joined hands with the Harvard Business
School, IMD, Hong Kong University, and other world-famous
business schools, as well as prestigious long lasting family
enterprises including Hermès and Ermenegildo Zegna, to
create a “Global Family Business Program" for families in
business in China. We explore how Chinese families can
better lead and pass their businesses to the next generation
in the age of globalization by explaining family governance,
family succession and successor cultivation, as well as the
governance and legal structures available to protect family wealth.
Family Wealth Management Program
(for financial institutions)
The Family Wealth Management program helps family
businesses and wealth management institutions (private
banks, trust companies, family offices and private equity,
etc.) to protect their wealth for future generations by
discussing family wealth planning and financial tools such as
family trusts, family offices, and family foundations.
Internet Finance
In the Internet Finance program, industry leaders and senior
researchers from academia and finance regulators explain
how internet finance has developed over time, and discuss
predictions for its future growth.
Dialogues between Capital and Technology
In this program, participants learn to analyze new
technological developments and modern financial concepts
as they relate to the creation of successful new businesses.
Market Value Management
China has entered a new era in wealth management, with
market value management becoming more important than
ever to investors. This program will explore the concept of
market value management and how it is relevant to investors,
consumers, and overall economic development.
Advanced Program for Commercial Banks
This program consists of seven modules from liberalization
of interest rates and securitization of credit assets, to micro
finance, wealth management, family business succession,
internet finance, and capital management. It allows banking
professionals to understand the underlying trends of China’s
financial reform.
Corporate Finance Consultant Certificate Program
The Corporate Finance Consultant Certificate (CFC)
program targets professionals working in financial
institutions, such as commercial banks, securities
companies, insurance companies, trust companies, thirdparty financial planning agencies, and consultants who offer
investment and financing related services to enterprises.
21
Faculty
Faculty
A core tradition of the School is the distinctive makeup of
its faculty, which consists primarily of industry lecturers
and supervisors. The School is also dedicated to building
a world-class full-time faculty team.
Our world-class faculty
are here to cultivate
innovative talents.
Dazhong Wang - member
of the Chinese Academy of
Sciences, former president of
Tsinghua University
Faculty
Full-time Faculty
In alphabetical order (as of October 2014)
Research Interests:
Research Interests:
Financial derivative pricing, mutual funds,
hedge funds, credit risk management,
market micro-structure, IPO lockups and
stock market liquidity
Empirical asset pricing, financial market
frictions, financial econometrics and
quantitative portfolio management
Charles Cao
Unigroup Chair
Professor
Associate Dean
Tsinghua University PBC
School of Finance
Zhuo Chen
1993PhD
University of Chicago
2009MA
Duke University
1984BSc
Peking University
2007BE/BA
Peking University
Research Interests:
Research Interests:
Empirical and theoretical corporate finance,
capital structure, rollover risk and credit
risk, financial reporting quality, emergency
funding facility and systemic risk
Corporate finance including private equity,
venture capital and angel investing,
merger and acquisition, China's split
share structure reform; consumer finance
including household finance, behavioral
finance, and financial operations and
products based on internet
Li Liao
2013PhD
Queen’s University
2006MA
University of British Columbia
2005BA
University of Western Ontario
Professor
1995PhD
Executive Associate Dean Tsinghua University
School of Finance
1999MBA
MIT Sloan School of Management
Deputy Head
Tsinghua University
1989BSc
National Institute of
Tsinghua University
Financial Research
Research Interests:
Research Interests:
Information asymmetry, agency issues, IPO
and Chinese capital markets
Bibo Liu
Assistant Professor
International financial markets, investor
trading behavior and financial market frictions
Yue Liu
2010PhD
Tsinghua University
2005BA
Tsinghua University
24
2014PhD
Northwestern University
1988MSc
University of Kentucky
Bo Li
Assistant Professor
Assistant Professor
Assistant Professor
2013
PhD
The Hong Kong University of
Science & Technology
2006
BA
The University of Hong Kong
Research Interests:
Research Interests:
Corporate finance, entrepreneurial finance,
and financial intermediation. Current
research focuses on venture capital, private
equity, corporate innovation, mergers and
acquisitions, IPOs, and payout policy
Corporate finance, capital structure and
consumer/household finance
Zhengwei Wang
Xuan Tian
JD Capital Chair
Professor
2008PhD
Boston College
Assistant Professor
2009
PhD
Tsinghua University
2004
BA
Tsinghua University
2003MA
University of Washington
2001BA
Peking University
Research Interests:
Research Interests:
Mutual funds/Institutional Investors, the
real impact of short selling on corporate
behavior, institutions, asset pricing and
international finance
Macroeconomics, economic fluctuations,
unemployment theory, monetary policy,
term structure of interest rates, financial
frictions, and fiscal policy
Hong Zhang
JD Capital Chair
Associate Professor
Ji Zhang
2004PhD
Yale University
Assistant Professor
2013PhD
University of California, San Diego
1999MSc
New York University
2008MA
Shanghai University of Finance
and Economics
1997BSc
Fudan University
2006BA
Wuhan University
Visiting Faculty
Hao Zhou
Unigroup Chair
Professor
Deputy Head
Tsinghua University
Financial Research
Research Interests:
Research Interests:
Consumption-based asset pricing models
with stochastic volatility, structural credit risk
models and credit derivatives market, financial
market volatility and return predictability,
term structure model with consumption and
inflation uncertainty, realized jumps on financial
market and asset pricing puzzles, international
risk premium dynamics and global economic
uncertainty, systemic risk and macroprudential regulation of financial institutions,
China financial market-reform and policy
Asset pricing in RBC models, behavioral
asset pricing, asset pricing with frictions
and international markets
2000PhD
Duke University
1993MA
Peking University
1989BA
Peking University
Jianfeng Yu
Visiting Professor
Associate Professor of
Finance
University of Minnesota
2008
PhD
University of Pennsylvania
2001
MA
Yale University
2000
BSc
University of Science and
Technology of China
25
Faculty
Industry Faculty
In alphabetical order
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Qingsong An
Shusong Ba
Weiqun Bai
ShengLin Ben
E’sheng Cai
Vice President & Secretary General
China Association for Public
Companies
Deputy Director-General
Research Institute of
Finance, Development
Research Center of the
State Council
Vice President
China Central Depository
& Clearing
CEO
J.P. Morgan Chase Bank
(China)
Commission
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Industry Supervisor
Haoyi Cai
Yaoxian Chen
Yuan Chen
Boming Cheng
Genyou Dai
Chairman of the Board of
Supervisors
Shareholder Representative
Supervisor China Everbright Bank
Commission
Vice Chairman
The CPPCC National
Committee
Former Chairman
China Development Bank
General Manager
CITIC Securities
Independent Director
Zhangjiang Innopark
Development
Adjunct Professor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Xianglong Dai
Weiping Di
Shuming Du
Wenzhong Fan
Yifei Fan
Former Chairman
National Council for Social
Security Fund
Consultant
Vice General Manager
Strategy Research
Department, China Galaxy
Securities
Director-General
Commission
China Investment
Corporation
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Yonghong Fan
Hongxing Gao
Jian Gao
Huayong Ge
Weiguo Gu
China Asset Management
Company
Directors
Hong Kong TV
International Media Group
Directors
Securities
Director-General
Personnel Department, the
People’s Bank of China
Vice Chairman, Executive
Director and President
China Galaxy Securities
Adjunct Professor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Shuqing Guo
Wuping Guo
Zhenghua Hong
Shaoze Hou
Weidong Hou
Governor
Shandong Province
Banking Supervision
Department I, China
Banking Regulatory
Commission
Director-General
Information Technology
Department, China
Development Bank
Vice President
Securities
Vice President & Chief
Information Officer
Bank of Communications
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Dinghe Hu
Jizhi Hu
Guobo Huang
Haiqing Huang
Hongyuan Huang
President
Blue Ocean Financing
Guarantee
CEO
Guosen Securities
Chief Economist &
Director-General of the Reserve
Management Department
Foreign Exchange
Vice Mayor
Xi’an Municipal People’s
Government
President
Shanghai Stock Exchange
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Jinlao Huang
Xuewen Huo
Zhihong Ji
Bo Jiang
Jinpu Jiao
Vice President
Hua Xia Bank
Beijing Municipal Bureau
of Financial Work
Director-General
Financial Market
Department, the People’s
Bank of China
Director-General
China Insurance
Director-General
Financial Consumer
Protection Bureau, the
Concurrent Vice Chairman
Asset Management
Association of China
26
Chairman
Bank of Shanghai
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Luo Jin
Qi Jin
Weihong Jin
Zhongxia Jin
Bin Li
Inspector
Assistant Governor
President
Huazhang Investment
Director-General
Assistant President &
President of the Financial
Markets SBU
China Minsheng Bank
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Bo Li
Chao Li
Dongrong Li
Fu’an Li
Jiange Li
Director-General
Monetary Policy Department
II, the People's Bank of China
Deputy Administrator
Foreign Exchange
Deputy Governor
Director-General
Henan Office, China
Banking Regulatory
Commission
Board Chairman
Shenyin Wanguo Securities
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Jun Li
Wen Li
Wenhong Li
Yue Li
Zhaojun Li
Chairman of the Board
of Supervisors
Bank of China
Vice President
Private Banking Department,
China Minsheng Bank
Research Bureau, China
Banking Regulatory
Commission
Investment Director
Everbright Financial Holding
Asset Management
Hebei Office, China
Banking Regulatory
Commission
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Adjunct Professor
Min Liao
Yixiang Lin
Hongru Liu
Mingzhi Liu
Shiyu Liu
Director-General
Shanghai Office, China
Banking Regulatory
Commission
Chairman & CEO
TX Investment Consulting
Company
Hon. Chairman of the
Board
School of Finance
Vice President
Hefei Central Sub-branch,
Chairman
Agricultural Bank of China
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Industry Supervisor
Zhiqiang Liu
Xiangdong Long
Xin Lu
Xi Luo
Jiajin Lv
President
CITIC Asset Management
Corporation
General Manager
Quantitative Investment,
Bank of Communications
Schroders Fund
Management
Vice Minister
Ministry of Education
President
China Export & Credit
Insurance Corporation
President
Postal Savings Bank of
China
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Jianwei Ma
Long Meng
Jianmin Miao
Huaipeng Mu
Qingping Nie
Managing Director
Credit Suisse Founder
Securities Limited
Director-General
Insurance Intermediaries
Supervision Department,
Commission
President
China Life Insurance
(Group)
Director-General
Legal Affairs Department,
CEO
China Securities Finance
Corp.
Adjunct Professor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Gongsheng Pan
Weidong Pan
Wensheng Peng
Bin Qi
Xiao’an Qian
Deputy Governor
Chairman
Shanghai Trust
Chief Economist
China International Capital
Corp.
Director-General
Department of International
Affairs
Commission
General Manager
Investment Research
Center, China Life Asset
Management Company
Co-head
27
Faculty
Industry Faculty
In alphabetical order (as of April 2014)
Adjunct Professor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Xiao Qin
Bingxi Shen
Guojun Shen
Liantao Shen
Junzhi Shi
Former Chairman of the
Board
China Merchants Group
Non-executive Director
Agricultural Bank of China
China Yintai Holdings
Chief Consultant
Commission
President
National Trust
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Wenchao Shi
Shuangning Tang
Sining Tang
Guangshao Tu
Andong Wang
President
China Unionpay
China Everbright Group
Independent Director
Bank of Ningbo
Executive Vice Mayor
Shanghai Municipal People's
Government
President
Sino Century International
Investment Management
(Beijing)
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Chunying Wang
Dongming Wang
Guoping Wang
Jun Wang
Jun Wang
Balance of Payments
Department, State
Administration of Foreign
Exchange
Chairman
CITIC Securities
Director-GeneralAdministrator
Research Institute, China
Galaxy Securities
Taxation
Chief Financial Expert
East Asia and Pacific
Bureau of Financial
Development, the World
Bank Group
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Lin Wang
Xian Wang
Xiaoya Wang
Yu Wang
Zhaoxing Wang
Department of Market
Supervision, China
Securities Regulatory
Commission
Non-executive Director
Bank of China (designated
by Central Huijin Investment)
Research Bureau, the
Vice Chairman
Commission
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Zhongmin Wang
Gejun Wei
Fulin Wu
Nianlu Wu
Jiesi Wu
Deputy Chairman
National Council for Social
Security Fund
President
China Financial Publishing
House
Chief Economist &
General Manager of
Strategic Planning
Former Director-General
International Financial
Research Institute, Bank of
China
Shenzhen Fuhaiyintao
Asset Management
Adjunct Professor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Xiaoling Wu
Yanming Xiao
Yuanqi Xiao
Managing Director
United Bank of Switzerland
(Hong Kong)
Director-General
Banking Supervision
Department I, China
Banking Regulatory
Commission
Ping Xie
Zhichun Xie
Chairwoman and Dean
School of Finance
Co-head
Industry Supervisor
Industry Supervisor
Jun Xing
Zhiguo Xiong
Customer Service Center, China Development Bank
Director-GeneralManaging Director
Policy Research Department,
CITIC Securities
Commission
Director-General
Department of Fund and
Intermediary Supervision,
Commission
28
China Investment
Corporation
Executive Director & Deputy General Manager
Industry Supervisor
Industry Supervisor
Industry Supervisor
Gang Xu
Junhua Xu
Nuojin Xu
CEO
National Modern Financial
Holdings
Statistics and Analysis
Department, the People’s
Bank of China
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Changneng Xuan
Huisheng Yang
Jun Yang
Yujin Zeng
Xiangyang Zhan
Director-GeneralSenior Partner
Tiantu Capital
Vice General Manager
Risk Management
Department, China
Construction Bank
Director-General
Insurance Fund Management
Regulatory Department,
Commission
Financial Research Director
Bank of China
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Chenghui Zhang
Chunting Zhang
Guangping Zhang
Hongli Zhang
Jianhua Zhang
Director-General
Development Research
Center of the State Council
Board Director & Vice President
Yongheng Development
Group
Shanghai Office, China
Banking Regulatory
Commission
Senior Executive Vice
President
Bank of China
President
Hangzhou Central Subbranch, the People's Bank
of China
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Jinsheng Zhang
Xiaohui Zhang
Xiaoling Zhang
Xiaopu Zhang
Xin Zhang
Inspector
Department of Futures
Supervision I, China
Securities Regulatory
Commission
Director-General
Monetary Policy Department,
the People's Bank of China
Banking Supervision
Department III, China
Banking Regulatory
Commission
Research Bureau, China
Banking Regulatory
Commission
Vice President
Shanghai Head Office, the
People's Bank of China
Adjunct Professor
Adjunct Professor
Industry Supervisor
Industry Supervisor
Industry Supervisor
Haikuan Zhao
Haiying Zhao
Lixin Zhao
Xiaofan Zhao
Yue Zhao
Former Director-General
Financial Research Institute,
Central Huijin Investment
Inspector & Deputy DirectorGeneral of the Department of
Listed Company Supervision
Commission
CEO
Xincheng Life Insurance
Chief Economist
Chief Securities Hong Kong
Industry Supervisor
Industry Supervisor
Industry Supervisor
Adjunct Professor
Industry Supervisor
Yongsheng Zheng
Daoxu Zhou
Wei Zhou
Xiaochuan Zhou
Congjiu Zhu
Assistant General Manager
Financial Management
Department, Bank of China
Director-General Financial Affairs Office,
Guizhou Provincial Government
Chief Internal Auditor
Bank of China
Vice Chairman, the
12th CPPCC National
Committee
Governor, the People’s Bank
of China
Vice Governor
Zhejiang Province
Industry Supervisor
Industry Supervisor
Xianzhong Zhu
Xinyi Zhuang
President
Huarong Securities
Vice Chairman
Commission
29
Research
Research
The PBC School of Finance at Tsinghua University dedicates
itself to building a top think tank in finance, drawing on its
cutting-edge research capacity. It will serve industry with
research on financial reform and development, and provide
policy analysis and advice for financial policy-makers and
regulators.
Our research areas include, but are not limited to:
Global economic and financial patterns and
development trends
Development and evolution of international monetary
systems
Governance of international finance
Development of international financial institutions and
China’s involvement
Internationalization of RMB
Causes and precautions of international financial crises
China’s fiscal and monetary policy
Connection between financial system and the real
economy
Establishment of multi-faceted capital market and
venture capital system
Integrated operation and regulation of China's financial
sector
Strategy and system construction for universal
education of financial literacy in China
Entrepreneurial finance and sustainable economic growth
Consumer finance and the transformation of economic
growth patterns
Internet finance
The School undertakes key national projects funded by the
National Natural Science Foundation of China and National
Social Science Foundation of China. It also carries out
independent and joint projects for the State Council Policy
Research Office, Ministry of Science and Technology,
the People’s Bank of China, National Development and
Reform Commission, Ministry of Finance, Ministry of Labor
and Social Security, the World Bank, Asian Development
Bank, and other organizations.
Our faculty and students have published a significant number
of academic papers and finance works. Topics range from
banking operations and banking regulation, to cutting-edge
financial projects and foreign financial systems.
30
A Top Think Tank in Finance
Research
Financial Research,
Tsinghua University
Through the joint effort of the central bank,
national financial regulators and Tsinghua
PBCSF, Tsinghua University National
Institute of Financial Research (NIFR) was
established. The NIFR aims to build up
a top think tank in finance, dedicated to
producing high-quality policy research on
deepening the reform of China’s financial
structure, perfecting modern financial
infrastructure, improving financial industry
regulation, promoting financial product
innovation, and maintaining the stability of
the financial system.
NIFR-affiliated research entities include
the Monetary Policy and Financial Stability
Research Center, the Minsheng Wealth
Management Research Center, the
Finance@Internet Lab, the Entrepreneurial
Finance and Economic Growth Research
Center and the Sunshine Research
Center for Financial Innovation.
32
Monetary Policy and Financial Stability
Research Center
The Monetary Policy and Financial Stability Research Center (MPFSRC)
provides policy advice for the government regarding central banking,
financial markets, and macroeconomic analysis. MPFSRC also undertakes
mid- to long-term research projects sponsored by the central bank, financial
regulators, and other government agencies.
Minsheng Wealth Management
Research Center
Minsheng Wealth Management Research Center is funded by China
Minsheng Bank. The primary objective of the Center is to build a bridge
between the academic world and the financial industry with a combination of
theory and practice through quantitative methodologies. With this approach,
it analyzes financial products, such as stocks, bonds, mutual funds, hedge
funds, private equity funds, and financial derivatives. The Center also focuses
on current issues such as internet finance and interest rate liberalization. It
studies not only the operating mechanism behind the wealth management
industry based on related policies and statistics, but also strives to acquire
accurate forecasting results by studying market data from China’s financial
markets. The Center is also devoted to educating professionals from financial
institutions, thus raising the quality of China’s wealth management industry.
Finance@Internet Lab
The Finance@Internet Lab, founded by Tsinghua University’s
PBC School of Finance in April 2012, is the first research
entity in China focusing on the area of internet finance. Utilizing
the resources of Tsinghua University, it is an ideal platform
for transforming ideas into innovative products and real-world
business assets. The Lab is dedicated to leading industry best
practice, promoting interdisciplinary innovation, encouraging
entrepreneurship, and driving the growth of online and mobile
financial services.
The Lab now consists of four departments, supporting
basic research, quantitative research, R&D projects, and
entrepreneurship education respectively. It now has a full-time
research team of almost 50 members, with core members
including Tsinghua University alumni who have years of
experience in the financial services industry.
Basic Research
Industry analysis, business mode research and other
featured in-depth research on internet finance
Researchers working with the Lab have completed over
50 case studies and surveyed over 100 internet finance
businesses world-wide, covering eleven sub-areas
of internet finance. The Lab also edits and publishes
Finance@Internet Watch, a magazine devoted to this area.
Quantitative Research
Finance quantitative research based on big data
Focusing on big data, the quantitative research team
conducts in-depth research on risk assessment
techniques. As of April 2014, it has developed and
implemented independent research on Classic Credit
Risk Assessment Model for Individuals and Small & Micro
Businesses, Credit Assessment Model Based on Big
Data, Regulation, Operation and Technical Support for
Global Credit Reporting Systems, and many more. The
Lab is also collaborating with multiple domestic institutions
on a research project named Risk Control on Online
Lending in China.
R&D Projects
Design and incubate internet finance businesses
The Lab creates incubation platforms for innovative internet
finance venture companies. The projects established or under
review include weiyangx.com, an internet finance gateway
website, ijiacai.com, a website for family finance management
education, PBCSF Finance Review, and Bull’s Eye
Investing Directory.
In addition, our WeChat account “iefinance” attracts a large
number of followers and was nominated for a place in the top
ten most influential finance WeChat accounts in China.
Entrepreneurship Education
A national public entrepreneurial education platform with
the biggest attendee size, most experienced faculty, and
the largest presence nationwide.
The Lab benefits business startups in China and around the
world by hosting the China Entrepreneur Camps, creating
and updating the FIN 100 Accelerator, and launching an
entrepreneur Q&A APP.
Entrepreneurial Finance and
Economic Growth Research Center
The Entrepreneurial Finance and Economic Growth Research
Center (EFEGRC) at Tsinghua University National Institute of
Financial Research is a leading destination for entrepreneurial
finance and economic growth research and training. The
primary objective of the Center is to build a bridge between
the academic world and the financial industry and to promote
China’s economic growth through rigorous and quantitative
research on the finance and growth of entrepreneurial firms.
The EFEGRC provides research and training programs that
focus on entrepreneurial finance (Angle Investors, Venture
Capital, and Private Equity), corporate innovation, and
economic growth. The Center also undertakes research
projects sponsored by the central bank, financial regulators,
government agencies, and companies.
Sunshine Research Center for
Financial Innovation
Established in September of 2014, the Sunshine Research
Center for Financial Innovation at the PBC School of Finance
of Tsinghua University was sponsored by the Sunshine
Insurance Group, Inc. Our mission is to foster research
in internet finance, suggest new improvements to existing
financial regulations, and to develop and disseminate innovative
ideas for financial instruments. The Center was founded to
satisfy the growing demand from both academe and industry
executives for a place of formal academic concentration in
internet finance. By promoting dialogues between scholars
and industry leaders, the Center enhances communication and
collaboration between the academe and industry. It aims to
become a leading think tank in internet financial innovation.
33
Research
China Finance Case Center
About
Positioning
The China Finance Case Center at Tsinghua
PBCSF is a research and teaching institution
dedicated to finance-focused case research
and development.
Supporting Case Teaching
The mission of the Center is to establish the
most influential financial case collection in
China. The Case Collection will be designed
into a full-structure, multi-level and all-inclusive
system. It will address the specific needs
of different case users such as financial
institutions, industrial enterprises, research
entities and business schools.
34
The Center and the Case Collection aim to train students to analyze
finance issues through a "participant-centered" teaching approach,
encouraging them to apply theories in real-world situations.
Improving Financial Practices
The Case Center supports academic research at Tsinghua PBCSF using
first-hand industrial data. By working with the Case Collection, financial
institutions and industrial enterprises will be able to set industrial standards,
and improve their research capacity, enhancing their global influence.
Highlights
Partners
Crowd-sourcing
Our partners include the Harvard Business
School, Ivey Business School, Galaxy
Securities, UBS, Ping An Bank, AT Kearney,
and Shanghai Trust.
In addition to the traditional approach of faculty developing
cases independently, the Center will work closely with
investment banks, commercial banks, private banks, mutual
funds, consulting firms, law firms and other institutions,
engaging their researchers in case-writing through a crowdsourcing mechanism.
Finance-focused
The Case Collection focuses on corporate finance,
banking, securities, funds, insurance, trusts, private equity,
venture capital, and internet finance. It also covers other
disciplines, including macroeconomics, wealth management,
entrepreneurship, business strategy, project management,
accounting, marketing, family business, and legal practices.
35
Research
TSINGHUA Financial
Review
Economic Interpretation,
Policy Analysis, and Best
Industry Practice
The Tsinghua Financial Review is a magazine sponsored by Tsinghua
University, presented by Tsinghua PBCSF, and published by Tsinghua
University Press. The Review is distributed nationwide on a monthly basis.
A host of experts and scholars from China’s financial regulators such as
the People’s Bank of China, China Banking Regulatory Commission, China
Securities Regulatory Commission, China Insurance Regulatory Commission
and State Administration of Foreign Exchange, and from major financial
institutions sit on the Review’s editorial and academic committee.
36
About
The Tsinghua Financial Review analyzes and studies the economic
and financial status quo, interprets and comments on policies, and offers
profound, thought-provoking, forward-looking, and practical advice on realworld practices.
Goals
Guidelines
The Review analyzes and interprets major economic and financial policies
in an in-depth and objective manner, and serves as a think tank for
economic and financial policymakers. It has built an exchange platform for
academics with the objective of promoting financial reform and leading
future financial practices.
The Review is guided by the
following values:
Adhering to an international
vision
Remaining grounded in realworld Chinese practices
Leading the standardization of
Chinese academic research
Interpreting policies and
providing solutions
37
Student Life
STUDENT LIFE
International Programs
Tsinghua PBCSF strives to cultivate global
vision and cross-cultural communication skills
in students. Supported by Tsinghua University,
the School is committed to working with global
partners to prepare the students to meet the
new challenges of a globalized economy.
38
Attending the Tsinghua PBCSF Summer
Program was one of the best decisions
I have ever made in my life.
Edward Wang (2013 attendee), Booth School of Business, University of Chicago
Co-supervision Program
Ph.D. candidates may join research programs jointly
offered by overseas partner schools while being cosupervised by professors at home and abroad.
Exchange Programs
Master's degree students may apply to study abroad
for up to a semester. Credits earned during the
exchange will be recognized by the School.
Short-term Programs
Students may apply for overseas short-term projects
or summer programs hosted by international partners
or organized by the School.
Overseas Internships
Students may also apply to work at overseas
financial organizations as interns to better
understand how business works in foreign markets.
Tsinghua PBCSF Summer
Program
The two-week Summer Program is designed
to help attendees get to know China’s financial
markets. Attendees will gain a comprehensive
understanding of China’s financial markets,
including banking, securities, insurance, funds,
and other sectors. Unique and in-depth lectures
will be given by a combination of Tsinghua
faculty, policymakers from the government, and
industry elite with extensive experience at top
financial entities.
Study trips to financial institutions will be
arranged to offer first-hand information detailing
how Chinese markets function and how China's
unique business environment has influenced the
financial industry.
In addition, the Program offers an opportunity to
become immersed in China’s wealth of history
and culture. Attendees will explore Beijing, the
nation’s capital city with over three thousand
years of history and increasing importance as a
financial center.
The first Summer Program attracted almost 50
attendees from leading universities or colleges,
representing 17 countries.
39
Student Life
Campus Life
At Tsinghua PBCSF, students are deeply involved with
the community. To foster students’ self-development,
the School organizes a myriad of campus activities,
including academic workshops, social work, sports, and
cultural events.
40
Career Development
rG
Ca
ree
rT
anagement
re
Ca
Intern
shi
ps
Career
Development
Services
ng
ini
er M
ra
Ca
r
ee
nce
u id a
In addition to the services provided by the Tsinghua University
Career Center, the School makes full use of its network
of alumni and industry partners through its unique career
development service system.
It also offers summer internship programs and social programs
that provide opportunities for giving back to the community,
helping students to gain a better understanding of real-world
business and to develop a strong sense of social responsibility.
Ca
reer Ethics
Social Program Bases
Gulang, Gansu Province
Haiyan, Qinghai Province
Kuche, Xinjiang Uygur Autonomous
Nanjian, Yunnan Province
Region
Pinghu, Zhejiang Province
Wushan, Chongqing City
Liangjiang New District,
Chongqing City
Zhaoqing, Guangdong Province
Huzhou, Zhejiang Province
Xiangyang, Hubei Province
Baiyin, Gansu Province
Wangkui, Heilongjiang Province
Ningde, Fujian Province
Baise, Guangxi Zhuang
Autonomous Region
Guizhou Rural Credit
Cooperative
Internship Partners
China Investment
Corporation
China National Investment & China Securities Finance
Guaranty
Corporation Limited
CITIC Securities
Housing Fund Management Sunshine Insurance
Center of Beijing Municipality
Shanghai Trust
Ping An Bank
Chang’an Trust
Shanghai Bank
SDIC Trust
Beijing Rural Commercial
Sinochem Group Foreign
Bank
Trade Trust
Taian City Commercial Bank
Beijing Financial Assets
Guotai Junan Securities
Exchange
Beijing Securities
Regulatory Bureau
Postal Savings Bank
ICBC Beijing Branch
Sumitomo Mitsui
Bank (China)
China Securities
China Life Asset
Management
Guosen Securities
Dagong Group
Securities
41
Social Engagement
Social
engagement
We are making contributions
to both industry and society.
Social Engagement
Finance Media
Fellowship Program
The Tsinghua PBCSF Finance Media
Fellowship Program is one of the pioneers
in providing high-class media management
training for China’s media executives. This
program aims at improving professional
competency of media practitioners and
promoting the development of China's
financial media.
Capitalizing on Tsinghua PBCSF's rich
educational resources, the program has
experts from financial regulators and
institutions, who analyze economic and
financial situations and interpret relevant
policies at home and abroad.
44
The program dissects economic and financial situations through theoretical
and practical explanation, case analysis and team presentations. It sets to
cultivate strong analytical skills in financial media executives, and promote
cooperation and exchanges between them.
The first enrollment started in May 2013 with approximately 70 trainees. After
two semesters of part-time study, the trainees will obtain a certificate issued by
Tsinghua University PBC School of Finance.
The Tsinghua Dream, the Entrepreneurial
Dream, the Chinese Dream
Tsinghua University
Chinese Entrepreneur Camp
Chinese Fund Leaders of
Tomorrow Summer Camp
The Tsinghua University Chinese Entrepreneur Camp, supported
by Tsinghua PBCSF, is a unique and unprecedented public
entrepreneurial training program. With the mission to develop
outstanding entrepreneurs, the Camp aims to further improve
China's venture investment and financing climate, arouse
the nation's awareness of entrepreneurship, and enhance its
entrepreneurial capacity.
To enhance college students' understanding of the
fund industry and train future asset management
talent, under the auspices of the Asset Management
Association of China (AMAC) and funds companies,
Tsinghua PBCSF hosted the first Chinese Fund
Leaders of Tomorrow Summer Camp in July of 2013.
There have been 10 programs in total since its launch in
March 2010. Founders of over 4,000 venture enterprises
attended the programs. Through intensive courses, alumni
events, featured lectures and an online educational platform,
the Camp has offered entrepreneurs nationwide opportunities
to learn entrepreneurship skills for free and built a bridge of
communication and exchange between entrepreneurs and
investors. It has now become a national public entrepreneurial
education platform with the biggest attendee size, most
seasoned faculty and largest presence nationwide.
At the Camp, industry leaders impart insider
knowledge, deliver relevant lectures, and elaborate
on trends and developments in the fund industry. The
program enables trainees to better understand the
industry’s history and current situation, and to learn
from the experts and their investment philosophy.
45
Social Engagement
ezijing.com
Founded in July 2013, Tsinghua PBCSF’s Online
Education Center employs a practice-oriented
educational approach. It follows the technological
development of internet and multimedia, and
recruits distinguished business professionals as
tutors. Through ezjing.com, the Center offers
entrepreneurs and managers a platform for efficient
and practical online learning, as well as offline
opportunities for exchanges related to business,
management, and personal development, helping
individuals to seize business opportunities.
Goals
Ezijing.com is committed to training self-motivated
entrepreneurs and helping entrepreneurs build successful
businesses. With domestic first-line experts as a main
source of faculty, the program creates a systematic platform
of multi-dimensional experience sharing to allow users to
master the content in the shortest possible time, develop
acute business awareness and management skills, instill
a sense of social responsibility, and achieve business
success.
Highlights
Instructors
Front-line practitioners and experts with years of
experience in the industry teach all online courses.
Courses
Well-designed curriculum with a focus on real-world
application
Pooling resources from different industries, different
angles, and different people
A dedicated Advisory Committee to guarantee quality
Flexibility
Study in your own time and on your schedule
A mix of videos, graphics, and personal interaction
Video labeling and subtitles allow targeted study
Connectivity
Join the online and offline communities.
We will recommend optimal study methods based on your
previous learning experiences.
46
ijiacai.com
Ijiacai.com, an online education platform that specializes in financial
management education, was founded by the Tsinghua University PBC School
of Finance and China Finance Online Group (NASDAQ: JRJC). We dedicate
ourselves to spreading knowledge on investment and financial planning to
millions of middle class Chinese. We also aim to help our audience improve
financial quotient and skills, and survive in capital games via all kinds of
methods, such as information dissemination, open courses, and video
recording.
Composed of Tsinghua PBCSF’s dedicated research teams on personal
investment and financing, supported by the School’s strong financial research
background, and consolidated with over 30 years of financial educational
resources, ijiacai.com is determined to be the top financial management online
education brand in China.
Open Courses
Open courses from ijiacai.com are
benefiting the public in financial planning
by discussing hot topics and solving
financial planning questions.
Curriculum
The curriculum of ijiacai.com targets both
the general public and financial planning
professionals, striving for authority,
professionalism, practicality, and costeffective training solutions for financial
personnel.
Instructors
The faculty of ijiacai.com consists of
economists, financial experts, and insiders,
responsible for addressing doubts in
fields related to financial-planning such as
macroeconomics, investment, consumption,
laws and property, and financial quotient.
The Team
Experts with strong backgrounds
in investment, finance media, and
online education constitute the core
competitiveness of ijiacai.com.
47
Forums and Events
Forums and
Events
48
Tsinghua PBCSF Financiers Forum
Tsinghua PBCSF Global Academic Leaders Forum
Tsinghua PBCSF Financiers Forum serves as a platform
for promoting communication between acclaimed financiers
and the general public. We bring together industry elite and
academic stars to share with the audience their expertise
and perspectives on domestic and international financial
trends.
Tsinghua PBCSF Global Academic Leaders Forum is
a public non-profit academic forum. The world’s most
renowned speakers, including Nobel laureates, noted
professors, and senior executives from foreign central
banks and other financial regulators are invited to share
their insights.
Tsinghua PBCSF
Global Finance Forum
The Tsinghua PBCSF Global Finance
Forum focuses on the new thinking,
new trends, new practices, and the new
dynamics of China’s financial reforms, and
seeks to address pressing issues from the
perspectives of “China and the World”,
“Reform and Polices”, and “Academics
and Practices”.
Global finance leaders and academics
are invited to this forum for in-depth
interpretation of the world economic
landscape and China’s financial reform,
and to find new opportunities for growth in
China and the rest of the world.
49
Alumni
Alumni
Tsinghua PBCSF has established a powerful
alumni network that shares knowledge,
experience, resources, and networking
opportunities. Our alumni enjoy privileged
access to the many alumni services that the
School has to offer. We retain close links to
our alumni through alumni events, social media,
alumni websites, and magazines, as well as
opportunities to give back to the community.
Fast Facts
Regions
represented
64%
Industry
represented
Beijing
20%
Regulatory
Agencies
9%
Shanghai
29%
Banking
9%
Shenzhen
25%
Securities
4%
Insurance
Master's degree program (1981-present)
1837
Master's alumni
Ph.D. programs (1987-present)
203
18%
Ph.D. alumni
83
2030
Master's-Ph.D. alumni
As of July 2014
50
Others
alumni in total
22%
Others
51
No.43, Chengfu Road, Haidian District, Beijing 100083, P.R.China
Tel: +86-10-62798255
Fax: +86-10-62798655
Email: [email protected]
Website: eng.pbcsf.tsinghua.edu.cn

TRANSFORMING THE FUTURE OF FINANCE

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