attacked as spiritual pollution and he could not have his articles published; in early 1987 he was again criticized in a campaign against "bourgeois liberalization". Li Yining's theory was vindicated in 1988, when premature price liberalization resulted in severe inflation and social instability that endangered the entire reform process. In the early 1990s, the shareholding system that Li had been advocating was implemented by the central government of China. Shanghai Stock Exchange and Shenzhen Stock Exchange were established in 1990, and many state-owned companies have since become publicly traded. Li's economic theory is believed to be an important contribution to China's stunning economic growth that ensued. In 2004 Li was awarded the Academic Prize of the Fukuoka Asian Culture Prize by the Japanese city of Fukuoka, and in 2009 he was awarded a prize for innovation in economic theory by the Chinese government. Academics Li Yining has spent his entire academic career at his alma mater Peking University. He formerly served as the dean of the Guanghua School of Management, the university's business school, and later was professor and dean emeritus of the school. In the late 1980s and early 1990s, he was the doctoral advisor of Li Keqiang and the advisor for the master thesis of Li Yuanchao. They co-authored the book Strategic Choices for Prosperity (). In 2013 Li Keqiang became the Premier of China and Li Yuanchao became the Vice President. His other students include Lu Hao, Governor of Heilongjiang province and a former Vice Mayor of Beijing, Meng Xiaosu, CEO of China Real Estate Development Group, and Gong Fangxiong, CEO of JPMorgan Chase Bank China Region. Major publications Economics of Education, 1984 System, Objective, and Human: Challenges Faced by Economics, 1986 Political Economy of Socialism, 1986 Management of the National Economy, 1988 (revised 1998) Ideas on China's Economic Reform, 1989 Disequilibrium of Chinese Economy, 1990 (reprinted 1998) China's Economic Reform and Share-holding System, 1992 Share-holding System and Modern Market Economy, 1994 Development Theory of Transformation, 1996 Transcending Market and Transcending Government: The Role of Moral Power in Economy, 1999 The Origin of Capitalism: Comparative Studies of Economic History, 2003 Li Yining's Collection of Lectures at Peking University, 2003 The Strategic Choice for China's Prosperity (English version), 2018, with Meng Xiaosu, Li Yuanchao and Li Keqiang. Translated from Chinese by Shi Guangjun and Jiang Hongxing. . Source: Fukuoka Prize. References 1930 births 2023 deaths Nanyang Model High