On November 29th, the signing ceremony of the Tsinghua University-University of Chicago Joint Research Center for Economics and Finance was held at the campus of the University of Chicago in Hong Kong. President Qiu Yong of Tsinghua University and President Robert J. Zimmer of the University of Chicago signed a memorandum of understanding on cooperation. The two universities will jointly establish the Tsinghua University-University of Chicago Joint Research Center for Economics and Finance. Provost Daniel Diermeier, Vice President for Strategy and Innovation, Deputy Provost and Chief International Officer Balaji Srinivasan, Vice President for National Laboratories Juan de Pablo, Vice President for Communications Paul Rand, and Vice President for Alumni Relations and Development Sharon Marine of the University of Chicago, Former President Gu Binglin and Vice President and Provost Yang Bin of Tsinghua University and other guests had a meeting and attended the signing ceremony together.

President Qiu stated that the signing ceremony was a brand new step in the cooperation based on the longstanding partnership between the two universities. Tsinghua SEM had grown up with the reform, opening up and development of China's economy. It integrated the disciplines of economics and management, pursued excellence in research and teaching, and devoted itself to creating new academic knowledge. On the other hand, the Economics Department of the University of Chicago had been in the world leading position through the ages. It had produced more than 35% Nobel Prize-winning economists and created an excellent environment for the growth of the "Chicago School of Economics". Moreover, the University of Chicago’s Becker Friedman Institute for Economics (BFI) had particular advantages in economic research in the fields of experience, talent network and research resources.  

President Qiu added that Tsinghua SEM, together with the University of Chicago’s Becker Friedman Institute for Economics (BFI), would form an innovative synergy, jointly tackle key problems in important fields, and play a more important role in the promotion of economic theory and policy research. The two parties would coordinate and complement research resources, build a broad international platform for the training of young researchers, and make a greater contribution to the development of China and the world economy. He hoped the two sides would maintain momentum and work closely, for the development of the center, for the progress of the discipline of economics, and for the common well-being of human civilization.

President Robert J. Zimmer stated that he was delighted to witness the deepening of the relationship between Tsinghua University and University of Chicago. The research results of this collaboration would be shared not only with researchers around the world to inspire continuous analysis and inquiry, but more importantly it would be shared with Chinese policy makers and policy makers from around the world as they created economic policies for the benefit of their citizens and society. The joint research center would create opportunities for economics scholars from both institutions to conduct vigorous, state-improving research and analysis on economic issues that were related to the extraordinary evolution of China over the past few decades. It was envisioned that the shared strength of the two universities would come together to unlock insights into economics that would be of great benefit in development connecting all cities and understanding across the globe.

The Tsinghua University-University of Chicago Joint Research Center for Economics and Finance will rely on Tsinghua SEM, and the University of Chicago’s Becker Friedman Institute for Economics (BFI) will focus on the advantages of economic research in promoting frontier economic research, with China’s economy as its research object, and will jointly carry out scientific research, personnel training and discipline construction in this field, with the aim of making a leading contribution to the promotion of China’s economic and financial research nationwide and even globally. The Tsinghua University-University of Chicago Joint Research Center for Economics and Finance will be established on the campus of Tsinghua University, while the space for scientific research and offices would be provided by Tsinghua SEM.

Before the ceremony began, President Qiuhad a meeting with President Robert J. Zimmer and the two parties carried out in-depth discussion on promoting teacher-student exchanges and cooperation in scientific research between the two universities.

Writer: Wilson Khor

Editors: John Olbrich, Guo Lili

Source: Tsinghua University News