1981, MA in Industrial Economics, People's University of China; 1991, PhD in Economics, University of California, Davis. 1981-85, Division Director, Development Research Centre of State Council, Beijing; 1991-95, Assistant Professor of Economics, Amherst College, Massachusetts, US; 1996, Consultant, World Bank; 1999-2004, Managing Director, China International Capital Corporation; 1997-98, Senior Economist, Merrill Lynch, Asia-Pacific; since 2004, Professor of Economics and Finance, China Europe International Business School.