PERSONAL PROFILE
Hao Gao is an Associate Dean of Institute of Philanthropy, Tsinghua University, as well as the Director of Research Center for Global Family Business and an Associate Director of Research Center for Green Finance at PBC School of Finance, Tsinghua University. He teaches in the Master, MBA, DBA and Executive Education Programs at Tsinghua University, and is the faculty chair of Master in Finance and EMBA courses Investment Banking, Wealth Management and Private Banking and Family Business Management and the Executive Education Programs on Family Business, Family Office and Philanthropy Leadership. He is a Visiting Professor and Temasek Fellow of Singapore’s Wealth Management Institute (WMI).
Gao is a member of Global Future Councils/Expert Network of World Economic Forum (WEF), a council member of All-China Federation of Industry and Commerce’s Thinktank, a board member and the Public Policy Chair of STEP China Committee, a board member and research fellow of China Enterprise Reform and Development Society (CERDS), and an associate chair of China Will Registration Center’s Academic Committee. He is an Editor of Wealth Management Journal, and the Editor-in-chief of Family Governance Series and Wealth Management Series.
Gao's research focuses on family business, wealth management, corporate finance, philanthropy and green finance. He has published 7 books, as well as 200+ academic papers, policy papers and case studies in leading academic journals such as Financial Management, Policy Research, Pacific-Basin Finance Journal, Journal of Contemporary China, Economic Research Journal, Management World, Journal of Financial Research and leading policy/professional journals such as China Finance, Tsinghua Financial Review, Directors & Boards and China Family Business Review. He has co-authored 10 cases in the Harvard Business School Case Collection, including the first Chinese family office case, the first Asian private banking case and the first Asian university foundation case.
Gao is the principal investigator of numerous research projects, including grants from People’s Bank of China (PBC, central bank),China Ministry of Commerce, China Ministry of Education, China Ministry of Civil Affairs, China Banking Association, Beijing Financial Supervision and Administration, Hong Kong Financial Services Development Council, Bill & Melinda Gates Foundation, UBS and HSBC. He is awarded the China Society for Private-Sector Economy Best Research Award (five times) and the Lixiang Mao Family Business Research Award (three times). His research and viewpoints are profiled in leading media domestic and abroad, such as CCTV, CGTN, CNBC, Financial Times, Economist, Bloomberg, Businessweek, Xinhua News and Caixin.
He advises central and local governments, including People’s Bank of China (PBC), China Ministry of Finance, China Ministry of Commerce, China Ministry of Civil Affairs, National Financial Regulatory Administration (NFRA), China Securities Regulatory Commission (CSRC) and Hong Kong Government. He serves on the boards of some of the largest family businesses and philanthropy foundations in China and the world, including several Fortune 500 Companies, Bill & Melinda Gates Foundation, and China Charities Aid Foundation for Children.
He earned a bachelor degree (engineering), a Ph.D. degree (management) and two post-doctorates (finance and economics) from Tsinghua University, and a bachelor degree (economics) from Peking University. He holds Harvard Business School Corporate Director Certificate and Temasek Fellowship of Singapore Wealth Management Institute.
EDUCATION
2012 Ph.D. in Management, School of Economics and Management, Tsinghua University
2007 B.A. in Economics, National School of Development, Peking University
2005 B.Sc. in Engineering, Department of Automation, Tsinghua University
Vice President of Tsinghua University Student Union
Outstanding Graduate Award of Beijing
ACADEMIC AND PROFESSIONAL APPOINTMENTS
Tsinghua University
2024-Present Associate Dean, Institute of Philanthropy, Tsinghua University
2020-Present Research Fellow, Research Center for Contemporary Management, Tsinghua University
(Ministry of Education Key Research Institute on Humanities and Social Sciences)
Tsinghua University PBC School of Finance
2013-Present Associate Professor (Research), Assistant Professor (Research), Postdoctoral Fellow
2015-Present Director, Research Center for Global Family Business
2021-Present Associate Director, Research Center for Green Finance
2015-2020 Director, Strategic Cooperation and Development Office
2014-2015 Executive Director, China Finance Case Center
RESEARCH INTERESTS
Family Business, Wealth Management, Corporate Finance, Capital Market, Green Finance
ACADEMIC APPOINTMENTS
World Economic Forum (WEF)
· Global Future Council Member
· Expert Network Member
Council Member, Think Tank of All-China Federation of Industry and Commerce
Board Member/Research Fellow, China Enterprise Reform and Development Society (CERDS)
Associate Chair of Academic Committee, China Will Registration Center
Youth Council Member, China Corporate Governance 50 Forum
Committee Member and Chair of Public Policy, STEP China Committee
Co-Editor, Journal of Wealth Management
Editorial Board Member, Journal of Sustainable Finance and Accounting
Editorial Board Member, Journal of Digital Economy
Member, Family Firm Institute
Member, China Charity Alliance (CCA)
HONORS & AWARDS
1. Outstanding Research Award, China Society for Private-Sector Economy, 2023
2. Policy Research Award, China Society for Private-Sector Economy, 2023
3. Outstanding Policy Research Award, Chinese People's Political Consultative Conference (CPPCC), 2023
4. Outstanding Research Award, China Society for Private-Sector Economy, 2022
5. Book Prize of the 18th Lixiang Mao Family Business Research Award, Zhejiang University, 2022
6. Best Paper in 2022Q1, Financial Management
7. Second Prize for 4th China Business Case Contest, Tsinghua University, 2021
8. Best Paper in the 11th International Symposium on China Corporate Governance, Nankai University, 2021
9. Best Research Achievement Award, China Society for Private-Sector Economy, 2020
10. Second Prize for Outstanding Achievements in Taxation Research, Chinese Tax Institute (CTI), 2020
11. First Prize of the 15th Lixiang Mao Family Business Research Award, Zhejiang University, 2019
12. Best Paper in the 10th International Symposium on China Corporate Governance, Nankai University, 2019
13. First Prize of the 10th Lixiang Mao Family Business Research Award, Zhejiang University, 2014
TEACHING
2018-Present 2019-Present 2022-Present 2022-Present 2013-Present |
Wealth Management and Private Banking (80602141), Tsinghua University Master Course Investment Banking (80602351), Tsinghua University Master Course Family Business Management (80602681)，Tsinghua University EMBA Course Landscaping the Belt & Road Countries (70600211), Tsinghua University EMBA Course
Family Business, Wealth Management, Family Trusts, Family Office, Philanthropy Finance, Digital Transformation, etc., Tsinghua University Executive Education Programs
|
ACADEMIC VISITS AND PROGRAMS
2023 2018 2018 2017 2015 2014 2013 |
Wealth Management Institute (Singapore)
Harvard Business School (HBS) Wharton School, University of Pennsylvania Stanford Graduate School of Business Harvard Business School (HBS) Awarded: Harvard Business School (HBS) Corporate Director Certificate Kellogg School of Management, Northwestern University IMD Business School |
ACADEMIC PAPERS (SELECTED)
(IN ENGLISH)
1. Clan Culture and Corporate Social Responsibility in Chinese Family Firms (with Guangli Zhang, Huili Xue, Xiaoyuan Liu), Singapore Economic Review (SSCI), 2024, 69(1), 119-139
2. Geographic Proximity and Price Efficiency: Evidence from High-speed Railway Connections Between Firms and Financial Centers(with Yuanyu Qu, Tao Shen), Financial Management (SSCI), 2022, 51(1), 117-141
3. Political Tie Hot Potato: The Contingent Effect of China's Anti-corruption Policy on Cash and Innovation (with Feifei Lv, Zhu Zhu, Lina Zhu), Research Policy (SSCI), 2022, 51(4), 104476
4. Media Spotlight, Corporate Sustainability and the Cost of Debt (with Jing He, Yong Li), Applied Economics (SSCI), 2022, 54(34), 3989–4005
5. Family Control and Cost of Debt: Evidence from China (with Jing He, Yong Li, Yuanyu Qu), Pacific-Basin Finance Journal (SSCI), 2020, 60(4), 101286
6. Role of Family in Entrepreneurial Endeavour and Business in Hong Kong: Implications of Declining Fertility (with Victor Zheng), Journal of Contemporary China (SSCI), 2020, 29(4), 585-597
7. An Entrepreneurial Migrant Family: The Rise of Aw Boon Haw’s Business Empire in the Asia-Pacific (with Victor Zheng), Asia and Pacific Migration Journal (SSCI), 2020, 29(2), 254-268
8. Materialities and Corridors: The Chinese Diaspora and Connected Societies (with Cangbai Wang, Victor Zheng), Asia and Pacific Migration Journal (SSCI), 2020, 29(2), 133-138
9. Where There is a Will, There is a Trust on the Way: Case Analysis of the First Testamentary Trust Judgment in China (with Jun Luo), Trust Quarterly Review, 2020, 18(3), 24-31
10. Dynamism in Adversity: A Comparative Study of Trends in the Performance of Listed Family- and Non-Family-Controlled Companies in Hong Kong (with Victor Zheng, Po-san Wan), East Asia, 2018, 35(4), 359-378
(IN CHINESE)
11. Rich List, Media Coverage and Donation of Family Business (with Jinhui Luo, Yuangao Xiang), Journal of Management Sciences in China, 2024, 27(4), 80-103
12. Corporate Social Responsibility in Family Firms (with Ying Fu, Jinzhan Li, Huangwei Su), Quarterly Journal of Management (CSSCI), 2024, (1), 103-120
13. How Institutional Investor Cliques Influence ESG Performance of Enterprises? (with Kai Wang, Ning Ding, Chenbo Wang), R&D Management (CSSCI), 2024, 36(1), 14-26
14. Strategic Response of Manufacturing Enterprises under Innovation Dilemma: Research on Innovation Performance below Aspiration and Responsive Search Behavior (with Yanling Lian, Weiwei Zheng), China Industrial Economics (CSSCI), 2023, 40(8), 174-192
15. Impact of Information Readability on the Effectiveness of Information Disclosure in IPO Comment Letters' Responses (with Guangli Zhang, Huili Xue), Journal of Financial Research (CSSCI), 2023, (7), 173-192
16. Managerial Learning Behavior in R&D Activities: A Peer Stock Price Perspective (with Xiao Jinli, Li Jialing, Zhang Pengdong), System Engineering Theory and Practice (CSSCI), 2023, 43(5), 1285–1299
17. Research on the Influence of Air Pollution on Green Technology Innovation of Listed Companies in Heavy Pollution Industries (with Kai Wang, Sanlin Wu, Chenye Wang), China Journal of Management (CSSCI), 2023, 20(3), 400-410
18. Charitable Donations from the Perspective of Crisis Management: Based on Data Analysis of Chinese Listed Companies (with Lina Zhu), Business Review (CSSCI), 2022, 34(11), 303-314
19. A Research of the Impact Negative Media Coverage on Corporate Strategic Response from the Perspective of Social Performance Feedback (with Yanling Lian, Weiwei Zheng, Yilin Liu), Chinese Journal of Management (CSSCI), 2022, 19(10), 1446-1455
20. Green Performance Feedback and Corporate Environmental Investment (with Lina Zhu, Zhengyuan Zhang), Journal of Finance and Economics (CSSCI), 2022, 48(7), 94-108
21. An International Comparison Research on the Inheritance Tax in the Common Prosperity Perspective (with Jing He), Taxation Research (CSSCI), 2022, (6), 77-82
22. Privatized Family Firms, De Novo Family Firms and Long-term Investments: A Psychological Ownership Perspective (with Yanling Lian, Yilin Liu), Quarterly Journal of Management (CSSCI), 2022, 7(2), 107-135
23. Executive Linguistic Styles in the Conference Call and Investors' Market Reaction (with Guangli Zhang, Ting Liang, Huili Xue), Journal of World Economy (CSSCI), 2022, 45(4), 217-244
24. The Third Distribution: An Ascendance of Wealth and Its Distribution Mechanism (with Ming Wang, Yuxin Lan, Mai Shi), Chinese Public Administration (CSSCI), 2021, (12), 103-111
25. The Mechanism Research on the Third Distribution, China Nonprofit Review (CSSCI), 2021, 28(2), 13-20
26. IPO Value Review and Stock Market Performance (with Guangli Zhang, Huili Xue), Economic Research Journal (CSSCI), 2021, 56(10), 155-171
27. “Entrepreneur + Official” Cooperation Policy and Enterprise Investment: Evidence from China Private Enterprise Survey Data (with Songqin Huang, Xiaobin He), China Journal of Economics (CSSCI), 2021, 8(4), 116-152
28. Policy Uncertainty and Corporate Non-market Strategy: An Empirical Analysis Based on Chinese Family Listed Companies (with Lina Zhu, Xiaogang He), Business Review (CSSCI), 2021, 33(10), 273-288
29. Synchronization of the Conference Call and the Stock Prices of Chinese Listed Companies (with Xiaotong Jian, Guangli Zhang), System Engineering Theory and Practice (CSSCI), 2021, 41(11), 2786-2805
30. Nominal Price Illusion: Direct Evidence from Security Analysts’ Price Target (with Guihua He, Chenyu Cui, Yuanyu Qu), Journal of Financial Research (CSSCI), 2021, (6), 189-206
31. “Voting with Your Mouth” on Management Voluntary Disclosure (with Dan Wang, Kunpeng Sun), Journal of Financial Research (CSSCI), 2020, (11), 188-206
32. Administrative supervision over audit firms and stock price crash risk: Evidence from CSRC’s random inspection (with Hai Wen, Sicen Chen, Jinli Xiao), System Engineering Theory and Practice (CSSCI), 2020, 40(11), 2769-2783
33. A Study on the Relationship between Family Control, Socioemotional Wealth and Corporate Charitable Donation (with Lina Zhu), Chinese Journal of Management (CSSCI), 2020, 17(11), 1679-1687
34. A Research on the Establishment of Insurance Trust Protector Mechanism (with Yanli Zhou, Jun Luo), Insurance Studies (CSSCI), 2020, (9), 20-31
35. Interim CEO Successions and Media Coverage: An Evidence from Chinese Listed Companies (with Yanling Lian, Yilin Liu), China Industrial Economics (CSSCI), 2020, 37(8), 175-192
36. Does “Green” Have Economic Value? A Study Based on the Listed Companies in China (with Lina Zhu, Xiaogang He), Foreign Economics and Management (CSSCI), 2020, 42(7), 121-136
37. Tax Burden of Civil Trust in China: Analysis from the Perspective of Law (with Jun Luo), Taxation Research (CSSCI), 2020, (5), 97-103 (Lead Article)
38. Xiaogang He, Bellwether Effects? A Family Firm’s Leading Position in an Industry and Green Strategies(with Feifei Lv, Lina Zhu), Management Review (CSSCI), 2020, 32(3), 252-264
39. A Research on the Application of Insurance in Wealth Management(with Yanli Zhou), Insurance Studies (CSSCI), 2019, (11), 3-12 (Lead Article)
40. Does the Improvement of the Governance Mechanism Play a Repairing Role? A Study Based on the Relationship between Immoral Irregularities and Organizational Performance(with Yanling Lian, Yilin Liu, Kun Luo), Foreign Economics and Management (CSSCI), 2019, 41 (7), 72-84
41. Controlling Shareholders’ Equity Pledge and CEO Dismissal (with Jinli Xiao), Systems Science and Mathematical Sciences (CSSCI), 2019, 39 (4), 575-594
42. Dongxiao Wang Family Control, Socioemotional Wealth (SEW) and IPO Underpricing: An Empirical Study Based on Chinese Family Listed Companies(with Yanling Lian), Economic Management (CSSCI), 2016, 38 (8), 120-134
43. The Performance Aspiration Gap and the Strategy Adjustment: A Study Based on China’s Listed Companies (with Xiaogang He, Yanling Lian), Management World (CSSCI), 2014, 31(11), 119-132
44. The Influence of Enterprise Operating Model to IT Governance Model: A Multiple Case Study (with Tao Zhu, Jing Zhang), Science of Science and Management of S.&T. (CSSCI), 2011, 32(4), 138-146
45. Empirical Study on IT Governance Mechanisms for China's Enterprises (with Tao Zhu, Jing Zhang, Shaobo Song), Science of Science and Management of S.&T. (CSSCI), 2010, 31(4), 162-167
46. An Integrated Model for Evaluating IT Value in Firms from Resource-based View (with Jing Zhang, Jinghua Huang), Science of Science and Management of S.&T. (CSSCI), 2010, 31 (2), 130-136
POLICY PAPERS
1. Landscaping the Stock Exchanges in Middle East (with Zimou Sun), China Finance, 2024, (13), 87-88
2. Landscaping the Wealth Management Industry in Middle East: A Case Study on Family Office (with Zimou Sun), Tsinghua Financial Review, 2024, (5), 101-104
3. Digital Transformation for China Private Banking (with Lei Xu), Tsinghua Financial Review, 2023, (10), 109-112
4. Landscaping the Sovereign Wealth Funds in Middle East (with Zimou Sun), China Finance, 2023, (11), 78-79
5. Green Sovereign Bonds: A Case Study on Saudi Arabia’s Sovereign Wealth Fund PIF (with Zimou Sun), Tsinghua Financial Review, 2023, (2), 103-106
6. Divesting the Fossil Fuel: A Green Finance Initiative from American Universities to the World (with Xueqian Chen), Tsinghua Financial Review, 2023, (1), 95-99
7. China Private Banking in the Perspective of Common Prosperity (with Lei Xu), Tsinghua Financial Review, 2022, (8), 81-86
8. China Family Office Landscaping (with Lei Xu), Finance and Economics, 2022, (15), 86-89
9. China Private Banking in the Perspective of the Third Distribution (with Lei Xu), China Finance, 2022(14), 85-86
10. A Research on Philanthropy Finance, Tsinghua Financial Review, 2022, (3), 51-54
11. The Regulation on Single Family Office (with Lei Xu), China Finance, 2022, (4), 85-86
12. What is Common Prosperity and How is China's Philanthropic Sector Advancing it? (with Jiawei Ye) World Economic Forum’s Davos Agenda, 10 Dec 2021
13. The Inheritance Policy for China’s Housing Assets (with Lei Xu), Finance and Economics, 2021, (15), 107-109
14. The Strategy of China’s Private Banking in the New Era (with Lei Xu), Tsinghua Financial Review, 2021, (3), 107-112
15. The Regulation of Family Offices with Global Perspectives (with Jun Luo), China Finance, 2020, (14), 59-60
16. China Private Banking Development Report (2019): Wealth Management for the High Net Worth Individuals in China (with Lei Xu), Tsinghua Financial Review, 2020, (2), 107-112
17. The Rise and Prospects of Family Offices in China (with Jiawei Ye), Tsinghua Financial Review, 2018, (10), 40-43
18. Dual-class Governance of Family and Business, Tsinghua Financial Review, 2015, (5), 101-102
CASES (SELECTED)
1. Rockefeller Philanthropy Advisors: Bringing Systematic Investment to Philanthropy (with Lauren Cohen, Alexander Bischoff, Sophia Pan), Harvard Business School Case 225-005, 2024
2. Burning the Sails to Save the Ship: The Pilati Family Dilemma (with Lauren Cohen, Grace Headinger, Jiawei Ye), Harvard Business School Case 223-081, 2023
3. Baofeng's Philanthropic Efforts in China (with Lauren Cohen, Bo Li, Zhaoheng Gong), Harvard Business School Case 223-067, 2023
4. Junson Capital (B): Digital Transparency in the Family Office (with Lauren Cohen, Trang Duong, Grace Headinger, Keven Wang), Harvard Business School Case 223-020, 2023
5. Star Magnolia Capital: Experts at Finding Experts (with Lauren Cohen, River Ewing, Grace Headinger), Harvard Business School Case 223-038, 2022
6. To SFO or Not to SFO: The Tolman Family Selects a Family Office Strategy (with Lauren Cohen, Victoria Alvarez-Arango, Grace Headinger, Mili Sanwalka, Anna Yuan), Harvard Business School Case 223-021, 2022
7. ROI vs. ROI: The Grupo Baobá Family Office (with Lauren Cohen, Grace Headinger, Jiawei Ye), Harvard Business School Case 223-018, 2022
8. The Incentive for Legacy: Tsinghua University Education Foundation (with Lauren Cohen, Spencer Hagist), Harvard Business School Case 221-100, 2021 (The first case of Asian University Foundation in the Harvard Business School Case Collection)
9. André Hoffmann: Beyond Philanthropy (with Lauren Cohen, Jiawei Ye, Spencer Hagist), Harvard Business School Case 221-093, 2021 (The family philanthropy case of Roche Group, one of the world's largest pharmaceutical companies)
10. China Merchants Bank: Ushering in the Era of The Family Office in China (with Lauren Cohen, Billy Chan, Dawn Lau), Harvard Business School Case 220-032, 2019 (The first case of Asian private banking and Chinese multi-family office in the Harvard Business School Case Collection)
11. Junson Capital: Building an Institutionalized Family Office (with Christopher Malloy, Lauren Cohen, Dawn Lau), Harvard Business School Case 219-069, 2018 (The first case of the Chinese family office in the Harvard Business School Case Collection)
12. SANY: The Digital Transformation of a Manufacturing Pioneer (with Jiye Mao, Xiaolin Zhu, Chong Ma, Siqi Wu, Nan Zou), Tsinghua University China Business Case Collection, 2022
13. China Merchants Bank: How to Build a World Leading Private Bank (with Lauren Cohen, Xu Lei, Spencer Hagist), Tsinghua University China Finance Case Collection, 2019
14. Hermès: Family business equity design and hostile mergers and acquisitions (A)(B) (with Jiawei Ye), Tsinghua University China Finance Case Collection, 2015
BOOKS
1. China Family Office Report (2022), SDX Joint Publishing Company, 2023 (Chief Editor)
2. China Private Banking Report (2021), China Finance Publishing House, 2022 (Executive Editor)
3. Critical Choice: The Development Path of Chinese Family Businesses (with Victor Zheng), The Oriental Press, 2021
4. China Private Banking Development Report (2019) and China White Paper on Family Wealth Management and Succession, China Finance Publishing House, 2020 (Executive Editor)
5. Persisting in Charity: A Comparison of the Historical Origin and System of Charitable Trusts (with Victor Zheng), Chung Hwa Book Company, 2019
6. Succession beyond Three Generations: A Study on the Chinese Family Business Succession (with Victor Zheng), Tsinghua University Press, 2019
7. Succession Path: Challenges and Solutions for Chinese Family Businesses (with Victor Zheng), Chung Hwa Book Company, 2017
8. Entrepreneurial Successors: Reflections of Chinese Family Business (with Victor Zheng), SDX Joint Publishing Company, 2016
9. Create Enterprises from Zero: Hong Kong Families and Society (with Victor Zheng)
· China Industry & Commerce Associated Press (Simplified Chinese Version), 2018
· Chung Hwa Book Company (Traditional Chinese Version), 2016
10. The Road to University, New World Press, 2007
RESEARCH PROJECTS
1. PI, ****Research on the Internationalization of RMB, Granted by People’s Bank of China (PBC), 2024
2. PI, ****** Research on Sovereign Wealth Funds, Granted by China Ministry of Commerce, 2023
3. PI, World Class Enterprise Research: Private Enterprise Perspective, Key Research Grant of All-China Federation of Industry and Commerce, 2023
4. PI, Sovereign Wealth Funds and Venture Capital, Granted by Development Research Center of the State Council, 2023
5. PI, ****** Research on Private Enterprises, Granted by China Central Commission of Finance and Economics, 2022
6. PI, Private Enterprises’ Roles in the Third Distribution, Key Research Grant of All-China Federation of Industry and Commerce, 2022
7. PI, Policy Research on Family Trusts and Philanthropy Trusts, Key Research Grant of All-China Federation of Industry and Commerce, 2022
8. PI, Investment Management Research of World Leading University Endowments, Key Research Grant of China Association of Higher Education, 2022
9. PI, An International Comparison Study on Sovereign Wealth Funds, Granted by China Investment Corporation, 2022
10. PI, China Family Trusts Report, Granted by HSBC, 2022
11. PI, Research on Family Philanthropy, Granted by China Ministry of Civil Affairs, 2021
12. PI, Research on the Wealth Protection and Succession of Chinese Entrepreneurs, Key Research Grant of All-China Federation of Industry and Commerce, 2021
13. PI, China Family Office Report (2022), Granted by Hong Kong Financial Services Development Council (FSDC), 2021
14. PI, Hong Kong 2035: Strategy Research for the Global Wealth Management Center, Granted by Hong Kong Private Wealth Management Association (PWMA), 2021
15. PI, Research on the Next Generation Entrepreneurs, Granted by Country Garden Group, 2021
16. PI, Research on the Development Strategy of the Family Office, Granted by Beijing Local Financial Supervision and Administration, 2020
17. Executive PI [PI: Gang Xiao, former Chairman of China Securities Regulatory Commission (CSRC)], Entrepreneurship in the New Era: Research on the Family Business Succession and Quality of China Capital Market, 2019
18. Executive PI [PI: Yanli Zhou, former Vice Chairman of China Insurance Regulatory Commission (CIRC)], The Application Research of Insurance in Wealth Management, 2020
19. PI, China Private Banking Report (2023), Granted by China Banking Association, 2022
20. PI, China Private Banking Report (2022), Granted by China Banking Association, 2021
21. PI, China Private Banking Report (2021), Granted by China Banking Association, 2020
22. PI, China Private Banking Report (2020), Granted by China Banking Association, 2019
23. PI, China Private Banking Report (2019), Granted by China Banking Association, 2018
24. PI, Family Business Succession Research, Granted by Country Garden Group, 2018
25. PI, China Family Philanthropy Research, Granted by Bill & Melinda Gates Foundation, 2016
26. PI, Global Family Business Research, Granted by Sinar Mas Group, 2015
27. PI, China Family Office Research, Granted by UBS, 2013
28. Executive PI, Case Research on Chinese Family Businesses, Granted by Ping An Bank, 2013
29. Executive PI, Evaluation Systems for China Family Businesses, Granted by Ping An Bank, 2013
