ZHANG Xiaojing, is a Professor of Economics and Director of National Institution for Finance & Development, Chinese Academy of Social Sciences (CASS); Member of Chinese Economists 50 Forum; Member of China Finance 40 Forum. Prof. Zhang is also the recipient of prestigious awards such as SUN Yefang Financial Innovation Prize for 2015, SUN Yefang Economics Prize for 2005 and 2007, and the First prize for Beijing’s 17th Outstanding Achievements in Philosophy and Social Sciences. He actively participated in the research and consultant work on China’s 11th, 12th, 13th, and 14th Five-Year Plan. He is in charge of the Center for National Balance Sheets (CNBS) which is the only institution that releases the annual data for China’s National assets and liabilities. He was a Visiting Professor at Harvard and National Bureau of Economic Research (NBER) in 2006-2007; and a Visiting Fellow at Stockholm School of Economics, from 1999-2000. His research interests are macroeconomics, macro-finance, and development economics.