Professor QIAN Yingyi first delivered a welcome speech. He briefly introduced the history of Tsinghua University and SEM, and the current situation of faculty, curriculum reform, students and international cooperation. He emphasized that the cooperation between SEM and the Harvard Business School was developing in both scope and scale, which was shown clearly by the cooperative projects such Senior Executive Program for China, case development, and the two deans sitting in each other’s advisory boards. He spoke highly of the important role of each term of Harvard Business School deans played in the cooperation between the two schools, as well as Professor Henry M. Paulson, Jr. and Warren McFarlan.