PDLS 2013 – “The Surging Chinese Economy” by Professor Zhang Jie, President, Shanghai Jiao Tong University

By the SMU Corporate Communications team

Embracing the self-described approach of its late leader, Deng Xiaoping of “crossing a river by feeling the stones” in the country’s “reform and opening” policy, China has witnessed sweeping political, economic and social changes since 1979, a transformation process that has been marked by unprecedented growth and rapid modernisation. 

Today, with a population of nearly 1.4 billion, China boasts the world’s second largest economy; holds the world’s largest foreign exchange reserves; has a per capita income which surpasses the World Bank’s definition of a middle-income nation of US$4,000 by more than 25 per cent; possesses increasingly-sophisticated infrastructures and more high-end and innovative industries; as well as comprises a burgeoning urban middle class that is better-educated and upwardly-mobile.

The new Chinese leadership recently affirmed its agenda to push for sustainable growth and maintain social stability.  What roles, then, will China’s leading universities play in the country’s revised economic blueprint?  How would these institutes of higher learning (IHLs) help address developmental issues?  How do the Chinese universities become strategic assets to the country?

On 19 March 2013, Professor Zhang Jie, President of Shanghai Jiatong University (SJTU), shared his insights into the strategic vision of China’s thriving tertiary education sector with an audience of some 200 people at the Mochtar Riady Auditorium.  An academician of the famous Chinese Academy of Sciences, Professor Zhang is the youngest scholar to helm SJTU, one of China’s most prestigious and selective public research universities, during its 117-year history.

Professor Zhang pointed out that despite its rapid rise as an economic power, China’s per capita GDP and the productivity of its workforce today still lag behind that of the USA by some margin.  This is due to a lack of innovative capacity at the national level.   As such, it is imperative that the top Chinese universities like SJTU be the engine to drive China’s efforts to expand its capability for innovations.  He highlighted that R&D spending in the Chinese universities has risen 10-fold from RMB5.73 billion ( S$1.16 billion) in 1998 to RMB59.73 billion (S$12.07 billion) in 2010, as a result of increased funding from the government.  Based on comparative projections, China is expected to leapfrog developed economies such as Japan, Germany, Korea, France and the UK by 2015.   This would lay the foundation for China to pursue higher economic goals.

Outlining his vision for SJTU to become the best university in China by 2020, Professor Zhang said that SJTU would harness its strategic location in Shanghai; traditional forte in Engineering studies; new-found strengths in the Sciences, Social Science & Humanities, and Life & Medical Sciences; as well as expertise in cross-disciplinary R&D, to realise its dream.  It has set its mission as achieving excellence in three pillars – talent development, innovative capacity and university culture.  This “trinity system” would boost SJTU’s domestic as well as international standing and contribute to the larger national objective.  A slew of reform measures have been introduced and are currently in progress.  These include restructuring university governance for greater academic autonomy, pedagogical rethink and curriculum reviews, incentivising R&D initiatives and breakthroughs, international benchmarking for best practices, and attracting the best talents from globally to SJTU for academic pursuits or research undertakings.

Professor Zhang Jie is the 12th speaker to grace the SMU Presidential Distinguished Speaker Series (PDLS) since it was inaugurated in 2005. Speakers invited to the PDLS include internationally-renowned scholars, outstanding business leaders and influential policymakers who have excelled in their respective areas of expertise. Its purpose is to stimulate rigorous intellectual discussions among SMU students, faculty and staff, as well as the University’s partners and friends, about matters of interest and issues of significance. 

Prior to the lecture, the SMU School of Information Systems signed a Memorandum of Understanding with SJTU’s School of Electronics, Information and Electrical Engineering.  The instrument would enable both parties to commence exploratory discussions about collaborating in a test-bed that utilises the research and development capabilities of both universities to improve patient care, patient service delivery and health outcomes for approximately 620,000 residents in Shanghai’s Changning district.  SMU, through its i-City Lab, and SJTU will apply their respective know-how in a synergistic way towards improving patient care services for 1,000 chronically ill patients living in the district.   The signing ceremony was witnessed by SMU President, Professor Arnoud De Meyer and SJTU President, Professor Zhang Jie.

 

[Photo: Prof Zhang Jie, President of Shanghai Jiao Tong University (SJTU), sharing his views on how top Chinese universities like SJTU could become strategic assets to China as the country powers ahead in the 21st century.]