Professor Bai is a renowned economist in China. He was recently appointed as a member of the Monetary Policy Committee of the People’s Bank of China. He is also a member of the National Committee of the Chinese People’s Political Consultative Conference, the “13th Five-Year Plan” National Development Planning Expert Committee, the Chinese Economists 50 Forum, China Financial Forum of 40 People, and Chinainfo 100. He is also the Mansfield Freeman Chair Professor, Associate Dean, and Chairman of the Economics Department of Tsinghua University. He earned his Ph.D. in Economics from Harvard University and Ph.D. in Mathematics from UC San Diego. Professor Bai’s research interests include Economics of Institutions, Growth and Development, Public Economics, Corporate Finance & Governance, and Chinese Economy. He has received many highest-level honors for his outstanding academic and research work.