Professor Wei Xiong is the Academic Director of Shenzhen Finance Institute at The Chinese University of Hong Kong, Shenzhen (CUHK-Shenzhen, thereafter). He is the Professor of Princeton University. Professor Xiong received his Ph.D. in Finance from Duke University, Master in Physics from Columbia University, and Bachelor in Physics from the University of Science and Technology of China.
Professor Xiong is one of the world’s most influential scholars in the field of finance. He has authored more than thirty research articles in major international academic journals of economics and finance, many of which have made a significant impact on the international academic and public policy communities. Professor Xiong’s research on speculative bubbles has been featured on the front page of U.S. mainstream media (a special column in The Wall Street Journal, for example) and was awarded with various prizes, including the Award in 2012 by The Journal of Finance, the inaugural Sun Yefang Financial Innovation Award in 2014, and the China Economics Prize in 2018.
After forty years of economic reform, China is now the world’s second largest economy, and it increasingly plays a pivotal role in world affairs. Over the past decade, China has contributed to more than one third of the world’s total economic growth, helping drive a global recovery. In the past five years, China has spearheaded innovative ideas and solutions that have boosted economic development around the world. China's reform goes into great depth and the opening up of its financial sector is underway.
Now, China’s economic reform has entered a new phase. The old Chinese saying, “All good principles must comply with the changing times if they wish to remain relevant,” reminds us that these new challenges must be analyzed and overcome. China’s traditional approach to economic growth, which has depended largely on investments and exports, is no longer applicable in today’s economy. Now, more than ever, significant adjustments to the economy’s progress must be driven by industries such as finance, medicine, education, and technology for sustainable growth as the country transitions from middle-income to high-income status. Finance, in particular, is vital to any modern economy. Focusing on the development of the finance sector is therefore essential to China’s ongoing economic reform. This moment calls for a new generation of business leaders and scholars who possess a deeper understanding of China’s economy and financial system in a global environment.
Fortunately, our values are in sync with the times. Shenzhen Finance Institute (SFI, thereafter) trains future business leaders through engaging, innovative approaches to learning that will ensure their professional success in the financial industry. It is our mission to prepare students for leadership roles and foster their entrepreneurial spirit; to conduct advanced research and encourage academic exchanges that promote better financial practices; and to function as a state-of-the-art think-tank that can help stimulate further economic development. Our internationalized faculty, researchers, and administrators form a vibrant academic community that offers both local insights and global outlook. At the same time, we maintain high levels of research productivity and guarantee that our students receive quality education through effective and essential classroom instruction. We inspire our students to study broadly and deeply, to think critically and analytically, and to work creatively and productively. We encourage them to develop a strong moral and ethical character while pursuing excellence in their studies. The goal is for our students to become future business leaders with a global mindset and an abiding concern for society.
Finance is a country’s core competitive strength, and risk management is the essence of finance. The revolutions in financial technology, the accelerated pace of financial innovations and development, and the increasing complexity and openness of financial systems have caused risks to accumulate exponentially. Consequently, financial stability has become more and more essential for a country’s economic development, social stability, and national security. To rise and meet the current tides, SFI has established the Centers for Macro-Financial Stability and Innovation, FinTech and Social Finance, Institutions and Capital Market, and Economic Data Research, among others. We hope to convey our wisdom and show our strength by generating a series of research initiatives that are rich in theory and valuable in practice. This way, we can better serve our nation’s interests, guard against financial instability, deepen financial reforms, and promote the development of a healthy economy.
The saying, “mighty oaks grow from little acorns”, applies to the Shenzhen Finance Institute, as we carry on the commitment of the Chinese University of Hong Kong to rigorous education and high academic standards. We will continue to provide outstanding business education, while promoting cutting-edge research in finance. Meanwhile, we will work toward our goal of becoming a world-class institute that will prove instrumental to China’s success as a key player on the global stage.