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Name:Zheng Haitao
Tel No.:82339112  
Email: zhenghaitao@buaa.edu.cn
Title: Associate Professor
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CURRICULUM VITAE

ZHENG HAITAO

The School of Economics & Management

Beihang University

Beijing, China 100191

(8610) 8233-9112

No.37 Xue Yuan Road

Haidian District, Beijing, China, 100191

(860) 13520784356

zhenghaitao@buaa.edu.cn

EDUCATION:

7/2001 B.A. (Economics), The School of Economics & Management, Beihang University, China

3/2006 Ph.D (Management), The School of Economics & Management, Beihang University, China

DISSERTATION:“Theories and Application Studies on Purchasing Power Parity Measurement”.

Advisor: Professor Ren Ruoen

This work systematically makes theoretical and applied studies in the aspect of PPP measurement. This work presents a discussion of the methods on output PPP measurement in two aspects of bilateral and multilateral comparison, and respectively reports China-Germany, China-USA and China-Japan comparison for the benchmark year 1995 by ICOP approach, and then analyses Chinese manufacturing performance from a multilateral perspective in 1980-2006. And again, input PPPs are constructed, and empirical results derived from the application of the procedures to input data between China and Japan for the 1995 benchmark year are presented. And this work derives the model comparing TFP level across countries by using capital, labor, energy and mediate inputs PPP and output PPP index, and reports the relative TFP level between China and Japan for the 1995 benchmark year. Most of the dissertation has been published as journal articles (see publication list).

Positions held

4/2006 Lecturer, The School of Economics & Management, Beihang University

Research Interests:

My current research interests are listed as follows. First, I am working on productivity in China, such as international comparison about TFP level between China and Japan, the effect of energy, information & communication technology on China’s non-manufacturing productivity performance, the influence of government policy and institutions in China on the productivity and its growth. Second, I am willing to make research on asset liability management in insurance company, such as liability pricing problem covering option, insolvency ability problem. Third, I am interested in the measurement of fictitious economy in China. Fourth, I am working at studying some financial problem by the function data method.

Main Academic Research Experience

1. 2010-2012, Project Director: Theoretical and Application Research on Pricing Model of life insurance contracts Embedded Time-Dependent Volatilities Multi-Stage Compound Option, supported by NSFC (National Natural Science Foundation of China), NSFC NO: 70901003.

Responsibilities: establishing project team, designing the whole research framework and research methods, supervising the process of the project and publishing the papers.

Abstract of the Project: Life insurance contracts typically contain various types of implicit options. These implicit options can be very valuable and can thus represent a significant risk to the insurance companies issuing these contracts in case of insufficient risk management. Therefore, proper pricing and risk assessment of time-dependent volatilities multi-stage compound options in life insurance contracts has gained substantial attention in recent years.

This research first sets up time-dependent volatilities multi-stage compound option pricing model in participating life insurance products. Further Considering life insurance's pricing characteristics such as mortility, expense, installment premium etc. and time-dependent volatilities multi-underlying asset pricing model, the research will bulid considering these factors time-dependent volatilities multi-stage compound option pricing model.This research presents the pricing governing partial differential equation, proposes the boundary conditions and termial conditions, and gets the numerical solution by Finite Differential Methods. For universal life insurance, the similar model will be set up. Finally, based on the two models, this research presents how asset structures and asset volatilities affect solvency and reserves and numerical simulation taking China Life Company for example.

Our research will extend complex life insurance product's pricing model to provide reasonable price of life insurance embedded compound option and to appraise life insurance company's solvency risk with reason.

2. 2008-2010, Project Director: Research on non-life insurance underwriting cycle in China, supported by the Social Science Foundation of Ministry of Education of P. R. China, NO: 07JC790072

3. 2010-2011, Project Director: Research on pricing model and insolvency ability evaluation model of universal life insurance contracts considering sudden change in financial market, supported by China Insurance Regulatory Commission

4. 2008-2011, Main member of the Project: International Comparison of China/EU countries and the United States in Productivity and China IGEM model (major international cooperation project of National Natural Science Foundation), supported by NSFC (NO: 70531010).

5. 2006-2010, Sub-Project Director: The modeling, forecasting and application research on the medium-term development of China’s macroeconomic, the significant project of National Natural Science Foundation. (NO: 70620120444)

6. 2006-2011.12, Main member of the Project: Modeling and management on several complex systems of socio-economic based behavior, supported by NSFC, research group project of National Science Foundation. (NO: 70521001,70821061)

7. 2006-2009, Sub-Project Director: Theory and application of purchasing power parity index under the combination of ICP and ICOP, supported by NSFC (National Natural Science Foundation of China), NSFC NO: 70571004.

8. 2009-2010, Main member of the Project: Characteristics of Hang Seng Bank and reference to Minsheng Bank. supported by the China Minsheng Bank.

9. 2008-2009, Main member of the Project: Developing Tactic Analysis of the Bank of Wells Fargo and reference to Minsheng Bank, supported by the China Minsheng Bank.

SELECTED PUBLICATIONS:

Presented at conferences:

1. Zheng Haitao,Ren ruoen, “A New Benchmark Comparison in Non- Manufacturing Sectors between China and US by ICOP Approach”, International Comparison of the Productivity among Pan-Pacific Countries- ICPA Project no. 2 in Japan, 2003.11

2. Haitao Zheng, Manying Bai, Ruoen Ren,Multilateral Comparison Of Chinese International Competitiveness In Manufacturing: 1980 – 2004[A],Proceedings The Ninth International Conference on Industrial Management (ICIM’2008)[C], 2008, Osaka JAPAN, 9: 910-919.

3. Haitao Zheng, Yuna Ji, Underwriting Cycles in Property-Liability Insurance of China, 2009 International Conference on Engineering Management and Service Sciences (MASS 2009), (EI检索)

4. Xu Nan-nan, Ren Ruoen, Zheng Haitao,Modeling Life Insurance Liability at Fair Value:an Analysis of Embeded Options in With-Profit Policy, 2009 International Conference on Engineering Management and Service Sciences (MASS 2009), (EI检索)

5. Haitao Zheng, Ruoen Ren, International Comparison of TFP Level Based on TT index between China and Japan, Proceedings of 2010 International Conference on Management Science & Engineering[C], 2010, Melbourne Austria, , 11:

6. Haitao Zheng, Maoqin Fan, Sun, Ruoen Ren, Impact of Macroeconomic Policy on Industries Energy Demand in China: Based on ICEM Model, proceedings of the International Conference on Energy and Environment Technology (ICEET 2010) [C], 2010, Changsha China, 9:

7. Haitao Zheng, Dong Wang, Ruoen Ren, Research on Fair Evaluation for Participating Life-Insurance, Proceedings The tenth International Conference on Industrial Management (ICIM’2010)[C], 2010, Beijing China, 9: 310-319

Journal Articles:

Productivity:

8. Ren,Zheng Haitao “Multilateral Comparison on Chinese Manufacturing’s international competitiveness”, Journal of System Science & System Engineering, 2005.12 P400-416. (in Chinese)

9. Zheng Haitao,Ren Ruoen, Comparitive Study on the International Competitiveness of Chinese Manufacturing Industry : Based on Bilateral Comparison between China and Germany ,China Soft Science Magazine ,2004, (10): P59-64. (in Chinese)

10. Zheng Haitao,Ren Ruoen, Further Research and Empirical Analysis on TT Index, Statistics Research, 2005,(1): P46-50 (in Chinese)

11. Zheng Haitao,Ren Ruoen, Multilateral Comparison on Chinese Manufacturing’s international competitiveness:1980-2004, Economic Research Journal, 2005, (12): P77-89 (in Chinese)

12. Ren, Zheng Haitao, “Multilateral Comparison on Chinese Manufacturing’s international competitiveness:1980-2004”, Frontiers of Economics in China—Selected Publications of Chinese Universities,2006(4),P560-576 ( From Economic Research Journal)

13. Ren, Li Jie, Zheng Haitao, Bai,International Comparison on Size of Economy between China and Japan, The Journal of World Economy, 2006, (8): P1-10 (in Chinese)

14. Ren, Zheng Haitao Bai, International Comparison on Size of Economy between China and USA, China Economic Quarterly, 2006, 6(1): P39-56 (in Chinese)

15. Bai, Zheng Haitao, Liu, Improvement on Purchasing Power Parity Index and its Empirical Study, Statistics Research,2008,25 (5): 89-93 (in Chinese)

16. Zheng Haitao, Ren, Bai, International Comparison of Industries’ TFP Levels Between China and Japan: 1996-2006,Statistics Research, 2009, (7):87-92(in Chinese)

17. Zheng Haitao,Ren Ruoen, Bai Mangying, International Comparison of industry TFP Level: Methodology and Empirical Research, Journal of Beijing University of Aeronautics and Astronautics (Social Sciences Edition),2010, 23(2):P55-58 (in Chinese)

Asset liability management:

18. Shi Xiaojun, Zheng Haitao, Dertermining threshold default risk criterion for trade credit granting,Jounal of Southeast University (English edition),2008, 24(7): 49-53,(EI 检索,Accession number: 083811572835)

19. Xu Xiaosi, Chen Ying, Zheng Haitao, The Comparison of Enterprise Bankruptcy Forecasting Method, Journal of Applied Statistics, forthcoming (SCI)

Books:

20. Bai Manying,Zheng Haitao, Theories and Application Studies on Industry-level Purchasing Power Parity Measurement, Beijing: Aviation Industry Press, 2010.5 (in Chinese)