The Tsinghua–INSEAD Dual-Degree EMBA (TIEMBA) Program hosted a masterclass and round table discussion at DIIS North Bund Urban Lab, the former site of the Lester Institute of Technical Education, in Shanghai on June 13, 2026.

Participants pose for a group photo.

The event featured a keynote speech titled "China 2026: Macroeconomic Trends, Equity Investment Opportunities and Risks," followed by a round table discussion on "Building the AI Business: Infrastructure, Industry & Investment." More than 50 TIEMBA alumni, students and guests from the industrial and investment communities attended the event. The session was hosted by An Jing, assistant director and director of international affairs, EMBA Programs, Tsinghua University School of Economics and Management (Tsinghua SEM).

Professor Lu Yao delivers a keynote speech.

Professor Lu Yao, academic director of the Tsinghua–INSEAD EMBA (TIEMBA)Program, associate dean of academics at Schwarzman College, Tsinghua University, and professor in the Department of Finance at Tsinghua University SEM, delivered the keynote speech on "China 2026: Macroeconomic Trends, Equity Investment Opportunities and Risks.” In her keynote, Lu offered a systematic analysis of China's economic outlook, capital market developments and risk factors amid structural adjustment, policy optimization and technological innovation. Drawing on macroeconomic indicators, industrial transformation and capital market dynamics, she discussed key variables shaping China's economy, including economic growth, consumption trends, real estate adjustment, high-tech investment, exports and global expansion, and examined their implications for equity investment. She also shared observations on opportunities and potential risks in areas such as the AI value chain, commercialization of AI applications, overseas expansion by Chinese enterprises, high-dividend assets, valuation fluctuations and changes in the external environment.

During the Q&A session, participants engaged with Lu Yao on topics including the valuation logic of high-tech companies, demographic change in China, population aging, and the relationship between technological innovation and industrial upgrading, further enriching the discussion on China's long-term economic variables and capital market dynamics.

A roundtable discussion of the masterclass

The roundtable discussion themed "Building the AI Business: Infrastructure, Industry & Investment" was moderated by Yao Qiuchen, founding partner of Uni-Partners & Shensixing and TIEMBA Class of 2020. Panelists included Thomas Molgaard, GM & senior director, head of China Engineering at Arm and TIEMBA Class of 2018; Wang Hongqiang, AI practice lead at Accenture China and TIEMBA Class of 2020; Andrew Youssef, value stream manager at The Manitowoc Company, Inc. and TIEMBA Class of 2023; and Guan Qian, partner at Singularity Capital and TIEMBA Class of 2026.

Drawing on their experience in semiconductors and computing infrastructure, enterprise AI transformation, industrial manufacturing and investment, the panelists shared front-line perspectives on AI commercialization. They noted that as model capabilities continue to evolve, enterprise AI adoption is moving beyond tool experimentation toward process optimization, business restructuring and value creation. For companies, the key to AI implementation lies not in chasing a single technology concept, but in starting from real business needs, identifying measurable and repeatable application scenarios, and building systematic capabilities across computing power, data, organizational collaboration and investment judgment, so that AI can be effectively integrated into business operations and long-term corporate strategy.

By bringing macroeconomic analysis and AI industry practice onto the same platform, the Shanghai masterclass addressed the long-term logic of China's economy and capital markets, as well as the practical challenges facing companies in intelligent transformation, industrial upgrading and global competition. Combining the academic insights of Tsinghua faculty with the real-world experience of TIEMBA alumni across technology, consulting, manufacturing and investment, the event reflected the distinctive value of TIEMBA in connecting China and the world, linking academic insight with business practice, and bridging business and technology.

As a dual-degree Executive MBA program jointly created by Tsinghua University and INSEAD, TIEMBA will continue to draw on Tsinghua's deep understanding of China's economy, technological innovation and industrial practice, together with INSEAD's global management education resources and international business network. The program is committed to providing senior executives with a platform for continuous learning, in-depth exchange and cross-cultural connection, helping them strengthen strategic judgment, global vision and long-term value creation capabilities in a rapidly changing technological and geopolitical environment.

Source: EMBA Programs

Editor: Ren Zhongxi