Dean QIAN explained, reform of the undergraduate education covers general education, individual development and internationalization and now has been highlighted and ratified after several years' progress. The year 2012 was the 10th anniversary of EMBA Program of SEM, which prepared "the innovative development plan of EMBA projects" to initiate innovation in teaching media and curricular system. SEM, relying on unique strength of "university-based business school", originated the "MBA+X" dual-degree project, under which, the second bachelor degree for the management and business administration majors will be opened. In 2012, SEM held forums on "stepping in the business school" and "going beyond the business school" and strengthened exchange with other schools/departments in Tsinghua University. He also introduced the "x-lab" project launched a month ago. This project is sponsored by Tsinghua SEM and supported by 11 faculties of Tsinghua University. This project is a platform for cultivating and discovering talents with originality, innovative spirit and entrepreneurship. This project per se is an important innovation in education. Also, SEM's reform in personnel system for faculty is leading in the university or even nation-wide and is ratified widely, which made SEM a pilot unit for deepening reform of personnel system in schools. The reform will be advanced orderly and steadily. Dean QIAN also displayed in pictures such annual events of SEM as the homecoming parade on the anniversary, graduation ceremony of SEM, Global Management Forum of Tsinghua, the advisory board meeting and New Year’s parties. The three-year strategic planning (2013-2015) of SEM has been finished after a half year's efforts of people concerned. This planning will make breakthroughs in six aspects namely, fostering masters, constructing buildings, carrying out reform in the doctoral program, global initiative, quickening development of the economics disciplines, and integrating management disciplines with other courses in the university. Dean QIAN's comprehensive and lively report has attracted the attention of every person present.