On July 10, 2025, the opening ceremony of the School of Statistics and Data Science at Shanghai University of Finance and Economics and the establishment conference of the Big Data Research Institute were held at the university. Numerous senior professors from both domestic and international institutions attended, including Academician Xu Zongben from Xi'an Jiaotong University, Academician Chen Songxi from Tsinghua University, Professor Fan Jianqing from Princeton University, Professor He Xuming from Washington University in St. Louis, and statistician Xu Xianchun, among others. Nearly a hundred experts and scholars from Peking University, the Chinese Academy of Sciences, Fudan University, Shanghai Jiao Tong University, the University of Hong Kong, Hong Kong University of Science and Technology, Hong Kong Polytechnic University, Renmin University of China, Nankai University, as well as over 20 outstanding alumni representatives such as Jin Wenzhong and Yang Qing also attended the conference. Liu Yuanchun, President of Shanghai University of Finance and Economics, Vice President Jin Yuying, and leaders of relevant functional departments of the university were present at the event. The meeting was presided over by Feng Xingdong, Dean of the School of Statistics and Data Science.
Principal Liu Yuanchun expressed heartfelt gratitude on behalf of the school to all the guests attending the conference and showing concern for the development of the statistics discipline at Shanghai University of Finance and Economics. He warmly congratulated the renewal of the School of Statistics and Data Science and the official establishment of the Big Data Research Institute. He pointed out that the statistics discipline, as a strong subject, plays an important role in the school's "Double First-Class" construction. As data becomes a key production factor in the new era, the deep integration of statistics with computer science and artificial intelligence has also become an irreversible trend. The renaming of the school to "School of Statistics and Data Science," along with the concurrent establishment of the "Big Data Research Institute," not only inherits and expands the traditional advantages of the statistics discipline but also represents a strategic deployment for educational reform in the new digital finance landscape, based on the characteristics of finance and economics. Principal Liu hopes that the school can strengthen the cross-disciplinary integration and practical transformation of "Data + Finance," contributing Shanghai University of Finance and Economics' wisdom to major national strategies, leading digital governance and intelligent decision-making.
In his speech, Academician Chen Songqi of Tsinghua University pointed out that for nearly 20 years, Shanghai University of Finance and Economics has been continuously exploring new paths for the development of the statistics discipline. The renaming reflects the university's further emphasis on the development of statistics in the data era. He hopes that Shanghai University of Finance and Economics can leverage its own advantages, focus on key areas such as finance and economics, optimize evaluation and incentive mechanisms, and promote the deep integration of data science and artificial intelligence technologies in policy analysis, system design, risk management, and other aspects. Especially in serving the country's major strategic needs and advancing organized scientific research, the university should explore a leading development path and once again create a Shanghai experience that serves as a model for national statistics development.
In his speech, the outstanding alumnus and renowned statistician Xu Xianchun stated that the explosive growth of data has profoundly impacted the production and operational methods of enterprises, the governance methods of the government, and the lifestyles of residents, while also promoting the rapid development of data science. Statistics is one of the important foundational disciplines of data science, and data science has also expanded the development space for statistics. The mutual promotion and integrated development of the two are an inevitable trend of the times. He suggested that statistics and data science should better serve the major development strategies of the country, such as Chinese-style modernization, high-quality development, common prosperity, and dual carbon reduction, while researching and addressing significant theoretical and practical issues in economic and social development. At the same time, they should also bravely reach the international frontier, researching and solving the difficulties, pain points, and bottleneck problems in fields like the digital economy and artificial intelligence.
In his speech, Professor He Xuming, President of the International Statistical Institute (ISI) and Washington University in St. Louis, mentioned that the statistics discipline at Shanghai University of Finance and Economics has been actively promoting the development of domestic statistical disciplines, taking the lead in implementing a permanent track system in line with international standards. He was impressed by the extensive cooperation with government departments such as the National Bureau of Statistics and the Shanghai Statistics Bureau, as well as with enterprises. The development of the statistics discipline at Shanghai University of Finance and Economics cannot be separated from the school’s high attention and strong support, as well as the joint efforts and relentless struggles of past deans and all faculty and staff. He believes that investing in statistics and data science carries low risk but has enormous potential, and he wishes the college and the new research institute to set sail and achieve great development.
Professor Ai Chunrong of The Chinese University of Hong Kong, Shenzhen, emotionally recalled the development history of the statistical discipline at the school in his speech. He pointed out that since the establishment of the school in the 1940s, business statistics have been introduced, and after the founding of New China, economic statistics were vigorously developed, keeping the school at the forefront domestically. At the beginning of this century, the school took the lead in implementing internationalization in the statistical field, promoting the development of mathematical statistics, and driving the excellent development of the discipline through the dual wings of economic statistics and mathematical statistics, becoming one of the first disciplines recognized as "Double First-Class." He mentioned that the college was formerly named the "College of Statistics and Management," aimed at emphasizing the financial and economic characteristics of the statistical discipline at the school. In the current wave of artificial intelligence, the school strategically further enhances the development of the statistics and data science discipline. He believes that the practicality of data science will assist the comprehensive digital transformation of the school's finance and economics disciplines, and is confident that the statistical discipline at the school will achieve new glory in the new construction period.
Professor Zhou Yong of East China Normal University warmly congratulated the achievements in the development of the statistics discipline at Shanghai University of Finance and Economics (SUFE) during his speech and expressed his highest respect to colleagues who have long supported the statistics discipline at SUFE. He pointed out that the century-long development of statistics has always been closely linked to the destiny of the nation, and statistics has been an important support for the modernization of the national governance system and governance capacity. In the face of challenges posed by new technologies such as big data, artificial intelligence, and quantum computing, the statistics discipline needs to take interdisciplinary integration as a breakthrough, build a new pattern of collective tackling of problems across multiple disciplines, focus on academic frontiers and national strategic needs, and address critical challenges. He hopes that the statistics discipline at SUFE will remember its original intention of serving national development, embrace the new wave of data science, forge ahead, and write a new chapter in the era of statistics and data science.
Subsequently, in the presence of everyone, the School of Statistics and Data Science and the Big Data Research Institute held an inauguration ceremony.
After the unveiling ceremony, Academician of the Chinese Academy of Sciences and Professor Xu Zongben from Xi'an Jiaotong University delivered a keynote speech titled "AI: Infinite-Dimensional Problems vs. Finite-Dimensional Techniques." He revealed the core challenge of AI research, which is the contradiction between the infinite dimensions of AI problems and the finite dimensions of existing technologies. He innovatively proposed a new architecture called "Deep Kernel Networks" and used the "Extreme Value Theory" method to return to infinite-dimensional systems to evaluate AI technology. This research provides theoretical support for the design of large models and intelligent emergence, promoting further development of AI technology.
The conference report by Professor Fan Jianqing of Princeton University is titled: Structural Deep Learning in Conditional Asset Pricing and Prediction. He proposed a machine learning framework for estimating time-varying risk premia and asset pricing functions in factor pricing models. This method achieves economic interpretation by decomposing return predictions into risk-related components and mispricing, and allows for the use of flexible nonlinear and time-varying models.
In the afternoon, two guest forums were held. The "Discussion on Statistics" guest forum invited five senior professors from internationally renowned universities to participate. Each professor shared their research experiences, providing valuable insights for the growth of young scholars.
The guest forum “How the Era of Artificial Intelligence Develops Statistics and Data Science” invited five renowned professors from home and abroad to share their thoughts and insights on talent cultivation and platform construction in the field of statistics and data science in the era of artificial intelligence.
The conference also invited three young scholars: Ma Wei from Renmin University of China, Mao Xiaojun from Shanghai Jiao Tong University, and Zhou Fan from Shanghai University of Finance and Economics, to present wonderful academic reports.
New starting point, new journey. The School of Statistics and Data Science and the Institute of Big Data at Shanghai University of Finance and Economics will further integrate the school's profound foundation in finance theory, policy research, and practical application, strengthen the collaborative development of education, research, and social service, build an innovative platform aimed at major national strategies, and lead digital governance and intelligent decision-making, providing robust talent support and theoretical backing for the high-quality development of the national economy and society in the era of digital intelligence.
