East China’s coastal city of Qingdao recently invited Professor Cao Heping from the prestigious Peking University to serve as one of the city’s advisors for international investment promotion.

Ma Weigang, director of the Qingdao Commerce Bureau, on July 18 met with Professor Cao, dean of Peking University’s Department of Development Economics.

The commerce chief invited Professor Cao to make full use of his research and expertise in development finance, macroeconomics and environmental economics, and advise on Qingdao’s economic and social development.

They also discussed the city’s plans to set up a government-led private equity fund to boost Qingdao’s industry growth through investments from home and abroad.

Professor Cao gave some suggestions from the strategic and operational perspectives and said he and his research team would work to help the municipal government make detailed plans for the PE fund program. He also met with officials from Qingdao’s finance office, to discuss the planning of the city’s Wealth Management Comprehensive Financial Reform Pilot Zone.

Professor Cao is dedicated to theoretical research in development economics and development finance. He is the principal expert for the Guangzhou Enterprises Mergers and Acquisitions Services and also serves as an economic advisor to Southwest China’s Yunnan municipal government.