Under the gentle warmth of spring, Tsinghua University welcomed a vibrant gathering of global leaders. From April 8 to April 12, students of the Tsinghua PBC School of Finance Belt and Road Initiative EMBA (BRI EMBA) convened in Beijing for an intensive five-day module.
Inside the classroom, students engaged deeply with advanced financial theory. Beyond it, they explored leading enterprises and immersed themselves in the historic Tsinghua campus—experiencing the poetic serenity of the Lotus Pond, the solemn grandeur of the Second Gate, and the architectural majesty of the Auditorium. These moments offered a profound encounter with the university’s century-old intellectual heritage.
The program combined rigorous academics with meaningful experiences, including a warm and memorable graduation ceremony and the debut of a distinctive fencing class. Together, these elements created a dynamic and enriching learning journey. Entrepreneurs from across the globe advanced their professional capabilities, strengthened lifelong connections, and internalized the “Tsinghua spirit”—gaining not only knowledge, but also a deep sense of belonging and pride.
Photo: BRI EMBA students in front of the Tsinghua Auditorium
Integrating Knowledge and Practice: Engaging Industry Leaders at the Frontier of Innovation
The module began with immersive company visits, bridging theory and real-world application. Students visited GalaxySpace and VolcEngine, gaining firsthand insight into cutting-edge industries.
At the GalaxySpace Ark Laboratory—China’s first unicorn in commercial aerospace and satellite internet—Mr. Zhang Peng, Head of Solutions, delivered an in-depth briefing on industry trends and the company’s achievements in low-Earth orbit broadband constellation development, technological innovation, and global expansion. He emphasized that satellite internet is emerging as a focal point for both technological breakthroughs and capital investment, driven by rapid innovation, declining costs, and the need for long-term financial support alongside full value-chain collaboration.
GalaxySpace has established China’s first experimental low-Earth orbit broadband constellation and achieved scalable satellite manufacturing, demonstrating globally competitive capabilities.
Within the broader context of the Belt and Road Initiative, satellite internet plays a critical role as next-generation digital infrastructure—enhancing regional connectivity and supporting digital economic growth across partner countries. Discussions explored investment logic, cost evolution, and internationalization pathways, with GalaxySpace’s expansion into markets such as Thailand and Hong Kong offering a compelling case study for globalizing high-tech industries.
At VolcEngine, students examined digital transformation practices and frontier technologies. Together, these visits—spanning aerospace and internet technologies—broadened perspectives and laid a strong foundation for subsequent academic inquiry.
Photo: BRI EMBA students at GalaxySpace Ark Laboratory
Academic Excellence: Strengthening Financial Foundations through World-Class Faculty
In the classroom, rigorous academic inquiry was complemented by real-world application.
Professor Xie Deren of Tsinghua University’s School of Economics and Management delivered a comprehensive course on Accounting. Centered on financial statement analysis, free cash flow, Economic Value Added (EVA), and Cash Value Added (CVA), the course deconstructed the underlying logic of corporate value creation.
Through a systematic analysis of the balance sheet, income statement, and cash flow statement, Professor Xie guided students in evaluating earnings quality, assessing dividend sustainability, and distinguishing between genuine and pseudo growth. He also addressed complex topics such as the boundary between liabilities and equity, accounting treatment of valuation adjustment mechanisms, recognition of data assets, and Ponzi-style financing structures.
The course seamlessly integrated accounting standards, corporate governance, and capital market practices. Case discussions—spanning commercial aerospace, digital technology, and investment scenarios—enabled students to deepen their understanding of value management, governance, and risk control, advancing from “reading financial statements” to truly “understanding enterprises and assessing value.”
Photo: Professor Xie Deren
Frontiers of Technology: AI and Digital Innovation in Focus
A series of lectures on digital technology and artificial intelligence followed.
Professor Xu Wei, tenured faculty and Associate Dean at the Institute for Interdisciplinary Information Sciences, opened with a lecture on stablecoins and digital currencies, outlining their technological foundations, trust mechanisms, and real-world applications.
Professor Lü Tingjie, Executive Vice Chairman of the China Information Economics Society, presented on “Digital Intelligence Empowering Enterprise Transformation,” covering large language models, deep learning, the industrial metaverse, and AI-generated content. He highlighted both transformative opportunities and emerging risks, including data security, algorithmic ethics, and misinformation.
Professor Ma Shaoping from Tsinghua’s Department of Computer Science provided a foundational overview of artificial intelligence, tracing the evolution of large models and exploring intelligent information retrieval, algorithmic applications, and key issues such as AI safety, fairness, and global governance.
Associate Professor Zhao Jing from the School of Public Policy and Management delivered a lecture on “China’s Approach to AI Governance,” analyzing global AI trends, technological evolution, and industry applications. She outlined China’s governance framework—including algorithm registration, large-model regulation, and agile governance—while comparing international approaches and emphasizing a vision of collaborative, inclusive global AI governance.
Through this intensive curriculum, students achieved a comprehensive upgrade in knowledge—from technical foundations to industrial applications and governance frameworks—equipping them to navigate the evolving intersection of technology, finance, and global regulation.
Photo: Xu Wei (top left), Lü Tingjie (top right), Ma Shaoping (bottom left), Zhao Jing (bottom right)
A Meaningful Milestone: Celebrating the Graduation of BRI EMBA Cohort 5
The Beijing module marked the successful completion of the BRI EMBA Cohort 5 program.
At the graduation ceremony, Dean Jiao Jie of Tsinghua PBC School of Finance attended the program for the first time. Senior leadership—including Associate Dean Wang Zhengwei, Academic Director Zhou Zhen, and EMBA Center Director Li Yuanzhen—presented awards to graduates. The ceremony was hosted by Assistant Director Zhou Wenjia.
Photo: Jiao Jie
Graduates from Cohort 5 were joined by representatives from Cohorts 6 and 7, creating a moment of shared reflection and celebration. Students looked back on their journey—from initial acquaintance to deep collaboration, from classroom learning to industry engagement—each experience forming a lasting imprint of growth.
In his remarks, Dean Jiao congratulated the graduates and highlighted the program’s role as a bridge connecting China and the world, as well as finance and industry. He encouraged students to embody professionalism and openness, serving as facilitators of cross-cultural exchange and contributors to high-quality development under the Belt and Road Initiative.
Alumni representatives shared personal insights from their entrepreneurial and professional journeys, offering guidance and inspiration to current students. Class leaders from multiple cohorts reflected on their shared experiences and future aspirations.
The ceremony was filled with warmth and emotion. A piano performance by Indonesian student Ratna Anggreani Gunawan added a poignant touch, followed by a collective rendition of Auld Lang Syne. As the familiar melody filled the hall, many were moved to tears, reflecting on the bonds forged and the journey shared.
Students unanimously agreed: graduation is not an end, but a new beginning. Armed with the knowledge and spirit of Tsinghua, they will continue to create impact across industries and regions.
Event Highlights
Holistic Development: A Distinctive Fencing Experience
A highlight of the module was the introduction of a fencing course—an innovative addition to the program’s holistic education approach.
Often described as the “ballet of combat,” fencing combines etiquette, strategy, agility, and strength. Held at Tsinghua’s North Gymnasium, the course was led by Liu Shuang, Head Coach of the Tsinghua Fencing Team and an international-level referee.
From foundational posture to practical techniques, students engaged fully in training and sparring. The experience not only enhanced physical fitness but also cultivated focus, discipline, and resilience.
By integrating fencing into the curriculum, the program expanded beyond traditional financial education, reinforcing its commitment to developing well-rounded leaders—intellectually rigorous, globally minded, and physically resilient.
Photo: BRI EMBA Fencing Class
Looking Ahead: Advancing Innovation in Financial Education
The five-day Beijing module was both intensive and inspiring, combining academic rigor, cultural depth, and innovative practice.
The Tsinghua PBCSF BRI EMBA program continues to uphold excellence in financial education while exploring new models of talent development. Through enriched academic content, diverse experiential learning, and a strong global platform, the program is dedicated to cultivating leaders with professional expertise, international vision, humanistic values, and physical vitality.
As this module concludes, students return to their respective countries and industries with renewed insight and strengthened connections. Looking ahead, the program will continue to innovate and elevate its offerings—contributing to the advancement of global financial education and shaping the next generation of transformative leaders.
