The AXA Research Fund, global insurer AXA Group's science philanthropy initiative, launched an innovative research partnership with Beijing-based Tsinghua University's School of Economics and Management on Oct. 23, 2014.

AXA's support, which is valued at up to EUR 3 million over 10 years, will be instrumental in helping this prominent university strengthen its strategic position in the field of Macroeconomic Risk Management in Asia.

Tsinghua's SEM is a prominent institution for economics in China with an excellent international reputation. The program has networks in place to develop an unprecedented scientific program aimed at deepening connections with the global academic and policymaking communities and improving the world's grasp of the underlying mechanisms of monetary stability.

AXA will support Tsinghua SEM's progress in academic excellence, international attractiveness, education quality and engagement with policymakers. The overarching goal of the partnership is to fuel Chinese research and create a channel for collaborative exchange between China and the West.

The project was initiated by the Dean of the school, Qian Yingyi, who told reporters, "The role played by the Chinese economy and currency in the global economy is rapidly increasing. In this regard, the Chinese monetary system is becoming a key parameter for the macro-monetary stability, or instability, of international markets. Therefore, I believe there is a crucial need to connect local and international academics to policymaker circles in China and bridge the gap between Chinese and Western academia."

Eric Chaney, Chief Economist of the AXA Group, commented, "China's liberalization of its financial markets and the role played by its currency are hot topics. Getting a Chinese perspective in a context where the major currencies are floating against each other will bring a valuable and rare angle to the research carried out in this innovative program."

This strategic research partnership at Tsinghua SEM strengthens the AXA Research Fund's ties with the university established by another project, led by Prof. Michael Powers and launched a year ago, which looks at the impact of cultural attitudes on property insurance in the Chinese market.

The amount granted to Tsinghua's SEM brings the AXA Research Fund's overall support of Chinese research (Hong Kong included), to EUR 3.9 million, distributed among nine research projects ranging from macroeconomics to climate risks and pandemics.

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