On April 27th, 2019, the Launch Ceremony of the Society for the Analysis of Government and Economics (SAGE) and the Inaugural Annual Conference of Government and Economics was held at the Mong Man Wai Concert Hall, Tsinghua University. Chen Xu, secretary of the CPC Committee of Tsinghua University and director of the School Affairs Committee, and Li Daokui, initiator and co-founding president of SAGE and president of ACCEPT addressed the conference respectively.

Other invited speakers of the conference include: Eric S. Maskin, winner of the 2007 Nobel Prize in economics and professor of economics and mathematics at Harvard University; Jan Svejnar, professor and director of the Center on Global Economic Governance at Columbia University; Erik Berglof, professor and director of the Institute for Global Affairs at London School of Economics; Cai Fang, Vice President of the Chinese Academy of Social Sciences; Lin Yifu, Dean of the Institute of New Structural Economics at Peking University; Liu Yuanchun, Vice President of Renmin University of China; Bai Chong’en, Dean of the School of Economics and Management at Tsinghua University; Yao Yang, Dean of the National School of Development at Peking University; Dong Zhiyong, Dean of the School of Economics at Peking University; Wen Yi, Assistant Vice President at the Federal Reserve Bank of St. Louis; and Zhou Li’an, Vice Dean of Guanghua School of Management at Peking University. Li Ke’Aobo, Vice President of ACCEPT, presided over the meeting.

In his opening remarks, Li Daokui first gave an introduction of ACCEPT, which was founded during the anniversary of Tsinghua University last year. Li Daokui said that the mission of ACCEPT is to provide the world with new knowledge on economics based on China’s economic practice and thinking since the reform and opening up. According to Li Daokui’s research, if a country’s economic growth is to contribute to the development of academic theory, three conditions need to be satisfied: First, growth must be sustainable, and in this respect, China’s rapid growth has been sustained for over four decades, and it is far from over. Second, other economies need to benefit from the results of such rapid growth, and in this respect, the Belt & Road Forum that has become a hot topic in the international community today is a proof. Third, the country needs to work with international scholars to elaborate on their own practical achievements and refine them at the theoretical level.

On this basis, SAGE has made clear its development goals. First, we shall construct a branch of new economics called “Government and Market Economics”, and clarify the role of the government in economic development. We shall regard the government as the promoter and stakeholder rather than the blocker of market economy. Second, we shall put forward recommendations on major policy topics to promote the further development of China. Third, we shall promote the development of economics of Tsinghua University itself through relevant researches.

Li Daokui remarked that the newly established SAGE precisely shares the mission of ACEPT for the study of government and market economics. SAGE intends to promote research on relevant topics including government incentives, actions and roles in market economy all over the world. As an international academic organization, SAGE avoids any prejudice of politics, society, commerce and nationality, and has absorbed numerous top scholars including the United States, Europe, China and other developing countries. Eric Maskin, winner of the 2007 Nobel Price in economics and professor of economics at Harvard University, joined Li Daokui as co-founding president of SAGE.

After the meeting, discussions were held on relevant papers in the Schwarzman College among numerous experts and scholars from Tsinghua University, Chinese Academy of Social Sciences, Renmin University of China, Fudan University, Shanghai Jiaotong University, Sun Yat-sen University, Wuhan University, Central University of Finance and Economics, and China-Europe International Business College. In addition, they exchanged their in-depth insights on the economic incentives provided by the government, the government’s role as a vital participant in market economy and the impact of the government on the economy.