On October 31st, two award ceremonies, namely the 8th “Peikang Chang Development Economics Outstanding Achievement Award” (hereinafter referred to as “Outstanding Achievement Award”) and the 3rd “Peikang Chang Development Economics Young Scholar Award” (hereinafter referred to as “Young Scholar Award”) were held in the academic lecture hall of HUST’s School of Economics. Three academic works and three papers, authored by nine scholars from nearly ten universities and research institutions such as Xi’an University of Finance and Economics, Peking University and Wuhan University (WHU), were awarded the “Outstanding Achievement Award”. Meanwhile, three young scholars, Ziying Fan, Guangrong Ma and Wei Huang, from Shanghai University of Finance and Economics (SUFE), Renmin University of China (RUC), and National University of Singapore (NUS) respectively, were granted the “Young Scholar Award”.

Xinyu Shao, Academician of the Chinese Academy of Engineering and Chair of University Committee, on behalf of HUST, extended congratulations to the winners. He put it that HUST would continue to make the “Peikang Chang Development Economics Prize” influential, inherit the undertaking pioneered by Chang, and write a new chapter for the development of social science with Chinese characteristics.

Professor Min Song, Dean of Economics and Management School of WHU, believes that the new concept of innovative, coordinated, green, open, and inclusive development needs to be adhered to in the long term, and sustainable high-quality development can be achieved only with a matching financial system mechanism. Changsheng Xu, Vice Chairman of the “Peikang Chang Research Foundation of Development Economics” (hereinafter referred to as “Research Foundation”) and Professor of HUST’s School of Economics, stated that the engine of the dual-circulation development pattern with the domestic circulation as a mainstay and domestic and international circulations reinforcing each other, lies in growing investments in research and development and technological innovation. Furthermore, future investments should tilt towards technological and human capital innovation.

During the ceremony, “New Dual-Circulation Development Pattern and China’s Economic Transformation and Upgrading” and “Economics Development and Mass Entrepreneurship and Innovation Education under the New Dual-Circulation Development Pattern” forums were held. Dozens of well-known scholars, from universities and related research institutions such as HUST, WHU, Fudan University, RUC and SUFE, participated to discuss new trends and laws under the new development pattern. Many outstanding entrepreneurs, HUST alumni[SR1] , shared their own entrepreneurial experience.

Chang is a former Honorary Dean of HUST’s School of Economics and Director of the Economic Development Research Center. Hailed as the father of development economics, he made pioneering contributions to the founding and evolution of the field. .

In October 1992, HUST backed the establishment of the “Research Foundation”, in an effort to promote the research and dissemination of development economics in China. Afterwards, the “Outstanding Achievement Award” was set up, and a group of scholars at home and abroad who have made important contributions to development economics research, have been rewarded successively. In 2018, the “Young Scholar Award” was established. Today, “Peikang Chang Development Economics Prize” has become one of the most important awards in academic circles in the field of domestic economics.

Written by: Shoufeng Huang, Jingyi Ye

Edited by: Can Shi, Scott, Yumeng Peng