Top prize rewards management innovators

Fund's development reflects the nation's market reform and opening-up gains

The years after China's entry into the World Trade Organization in 2001, often described as the second reform and opening-up in China, were tough on Chinese managers. They faced huge challenges adapting traditional approaches to business management to the new methods required of those participating in a global economy.

Wang Jiming, now deputy director and secretary-general of the Fudan Premium Fund of Management Council, recalled the challenges he faced in 2005 as president of SINOPEC Group, a giant petrochemical corporation.