On the morning of October 25, 2011, the 2011 Tsinghua Management Global Forum was held at SEM themed "China in the Changing World”.

This time, SEM organized its fifth Tsinghua Management Global Forum. This annual event was formally initiated in 2007, usually in conjunction with SEM’s Advisory Board Meeting. Upon invitation, over 600 guests and audience from various fields participated in this year’s event, including chief executives of top-tiered international corporations, deans of leading business schools, renowned policy-makers and entrepreneurs, mainstream media reporters, SEM faculty and students and etc.

The School aims to make the forum series into world-class events, providing forward-looking perspectives on management issues each year, offering an open platform for the display of wisdom of business leaders and academic scholars. The combined insights drawn from both business practices and academic theories will hopefully enlighten the development of Chinese enterprises and the national economy as a whole.

Professor QIAN Yingyi, Dean of Tsinghua SEM, addressed the audience with an opening speech. He briefly reviewed the history of the Advisory Board and the Forum. Initiated by SEM Founding Dean ZHU Rongji in 2000, the Advisory Board is holding its 12^thannual meeting in 2011. The Tsinghua Management Global Forum is among many contributions the Advisory Board made to the School.

This year, 14 members of the SEM Advisory Board attended the Forum, discussing on different themes at four panel sessions: “Industrial Transformation and New Pattern of Growth”, "Institutional Entrepreneurship in Finance”, "Preparing Talents for the Future”, and “The Emerging Power of the 21^stCentury”. The four topics were put forward in the context of international financial crisis, slowdown in global economic growth as well as restructuring of the current world order. How China could seek initiatives to meet the new and changing international environment, and meanwhile to maintain sustainable development, is a major issue under discussion.

Dean QIAN Yingyi remarked: “In the last four years, we had four distinguished speakers to deliver keynote speeches at the Forum, and they were ZHOU Xiaochuan, a Board member and Governor of the People’s Bank of China, JIANG Jianqing, Chairman of Industrial and Commercial Bank of China, LOU Jiwei, a Board member and Chairman of China Investment Corporation, and Dominic Barton, a Board member and the Global Managing Director of McKinsey & Company. Their insights shed lights on the complicated realities of today’s economies and business practices concerning China and the world. We at Tsinghua SEM are proud to provide a venue for the audience at the School and beyond to listen to the wisdom of these distinguished speakers.”

Dean QIAN Yingyi then introduced to the audience this year’s keynote speaker, Prof. John L. Thornton. He is Guest Professor and Director of Global Leadership Program at Tsinghua SEM, and also Chairman of Board of Trustees at Brookings Institution.

In Thornton’s keynote speech, he elaborated in three aspects on China’s response to the changing world order. First, China is now facing a major challenge since the Reform and Opening-up 30 years ago. China should try to achieve a more balanced and sustainable development in economy. Second, China and the United States enjoy high degrees of interdependence, which requires mutual trust between the two nations’ government leaders and people to resolve conflicts and to move forward. Third, both countries encounter major transformations. A productive bilateral relationship is essential and reciprocal to both sides. The United States need to share with China the leading role in the global arena.

After Thornton’s speech, four panel discussions took place in turn, looking into different aspects of the forum theme.

Session 1 focused on the topic of “Industrial Transformation and New Pattern of Growth”, joined byVictor K. Fung, Group Chairman, Li & Fung Group of Companies;Nobuyuki Idei, Founder & CEO,Quantum Leaps Corporationand Former Chairman & Group CEO, Sony Corporation; Marjorie Yang, Chairman, Esquel Group;Silas Chou, President & CEO, Novel Enterprises Ltd.; and LIANG Xinjun, Co-Founder & CEO, Fosun Group. The moderator of Session 1 was Prof. JIAO Jie from Tsinghua SEM.

Session 2 elaborated on the theme “Institutional Entrepreneurship in Finance”. Panelists included Henri de Castries, Chairman & President, AXA Group; Maurice R. Greenberg, Chairman & CEO, C. V. Starr & Co., Inc., and Former Chairman & CEO, AIG;Joseph Deiss, Former President of Switzerland; andLevin Zhu, President & CEO, China International Capital CorporationLtd. SEM Prof. LI Jinliang served as the moderator.

Session 3 discussed on the topic “Preparing Talents for the Future”. Dominic Barton, Global Managing Director, McKinsey & Company; LI Rongrong, Former Chairman, State-Owned Assets Supervision and Administration Commission; Nitin Nohria, Dean, Harvard Business School; David Schmittlein, Dean, MIT Sloan School of Management; and QIAN Yingyi, Dean, Tsinghua SEM participated as panelists. SEM Senior Associate Dean YANG Bin chaired the discussion.

Session 4 reflected on “The Emerging Power of the 21st Century”. The panelists were Christopher B. Galvin, Chairman & Co-Founder, Harrison Street Capital LLC, Former Chairman & CEO, Motorola; Robin Li, Founder, Chairman & CEO, Baidu Inc.; Philip Christian Eller, President, BMW China Services Ltd., and Group Senior Vice President, BMW Group; HU Shuli, Chief Distributor & Chief Editor, Caixin Media Company Ltd.; and Cherie Liem, Chairman, Three on the Bund, and Executive Director, GITI Group. The moderator was SEM Prof. HE Ping.

Dean QIAN Yingyi's opening remarks at the Forum