Zaigui YANG

Professor

Contact Information

Address:	China Institute for Actuarial Science (CIAS) Central University of Finance and Economics (CUFE) Shahe Higher Education Park, Changping District,Beijing, P.R.China,102206
Email:	yangzaigui@cufe.edu.cn
Telephone:	+8610 62288162-601

Professional Credential/Affiliations

Editorial board member, Statistical Research (in Chinese)

Fellow, the China Social Security Association

Referee for Emerging Markets Finance & Trade, Contemporary Economic Policy, China Economic Review, World Economy (in Chinese), Economic Science (in Chinese), Statistical Research (in Chinese), Economic Theory and Business Management (in Chinese), Insurance Studies (in Chinese), etc.

Employment

2010-present     Director, Social Security Actuarial Research Center

2008-present     Professor, Central University of Finance and Economics

1996-2008         Lecturer, Associate Professor, Central University of Finance and Economics

1995-1996         Civil servant, Ministry of Finance

1986-1995         Assistant, Lecturer, Chinese People's Armed Police Force Academy

Education

2008                 Ph.D. (Economics), Nagoya University, Japan

1992                 M.A. (Economics), Central University of Finance and Economics, China

1986                B.S. (Physics), Central University for Nationalities, China

Research Interests

Actuarial Science for Social Security, Public Pension Economics, Insurance

Courses Taught

Undergraduate:

ŸPension Economics, The Theory of Interest, Overlapping-Generations Model, Life Insurance, Insurance Company Accounting

Graduate:

ŸPension Models, Actuarial Science for Social Security, Frontier Problems of Social Security, Contingencies, Fundamentals of Actuarial Mathematics

Publications

Refereed Journal papers:

[1]Zaigui Yang, Yan Xu, Qin He, “Actuarial Models of the Old-age Insurance for Urban and Rural Residents and Their Application”,Journal of Central University of Finance & Economics, 2019 (2).

[2]Xiaohua Chen, Zaigui Yang, “Stochastically Assessing the Financial Sustainability of Individual Accounts in the Urban Enterprise Employees’ Pension Plan in China”, Sustainability, MDPI, Open Access Journal, 2019, Vol. 11(13).（SSCI, SCI）

[3]Yan Xu, Zaigui Yang, “A Projection of Participation Rate of Basic Pension Insurance for Urban and Rural Residents Based on the Grey GM(1,1) Model”, Insurance Studies, 2019 (4).

[4]Zaigui Yang, “Optimum Contribution Rate and Accounting Interest Rate of Enterprise Employees' Basic Old-Age Insurance in the Context of Current Stage”,Journal of Central China Normal University (Humanities and Social Sciences), 2018 (1).

[5]Zaigui Yang, Ding Xu, “Fiscal Burden of Chinese State Organ and Institution Employees' Pooling Account Pension”. Wuhan University Journal (Social Science), 2017, Vol.70．No.5．52～65.

[6] Zaigui Yang, “Population aging and public pension: the case of Beijing analyzed by an OLG model”, Singapore Economic Review, 2016, Vol. 61, No.4.（SSCI）

[7]Zaigui Yang, Shi Chenxi, “Fiscal Burden and Replacement Rate of Individual Accounts for Enterprise Employee Pension”, Public Finance Research, 2016 (7).

[8]Zaigui Yang, Shi Chenxi, “Fiscal Burden of Chinese Urban Enterprise Employees' Pooling Account Pension”, Economic Science, 2016 (2).

[9]Zaigui Yang, “Public Pensions and Public Rental Housing”, Emerging Markets Finance & Trade / March–April 2014, Vol. 50, No. 2, pp. 229–238. （SSCI）

[10]Zaigui Yang, “Altruistic motives, uncertain lifetime and urban public pension replacement rates”, Optimization: A Journal of Mathematical Programming and Operations Research, Volume 61, Issue 2, 2012: 209-221. （SCI）

[11]Zaigui Yang, “Urban Public Pension and Economic Growth in China”, Asia-Pacific Journal of Risk and Insurance, 2012, vol. 6, issue 2.

[12]Zaigui Yang, “A Theoretical and Empirical Study on the Optimal Replacement Rate of Urban Public Pension under Uncertain Lifetime”, Management Review, Vol.23 No.02, Feb. 2011: 28-32. Reprinted in Statistics and Actuarial Science, Information Center for Social Sciences, Renmin University of China, Mar. 2011: 90-94.

[13]Zaigui Yang, “Partially funded public pension, human capital and endogenous growth”, Frontiers of Computer Science in China, Volume 4, Issue 2, June 2010: 271-279. （SCI）

[14]Zaigui Yang, “Urban public pension, replacement rates and population growth rate in China”, Insurance: Mathematics and Economics, Volume 45, Issue 2, October 2009: 230-235. （SSCI, SCI）

[15]Zaigui Yang, “Urban Public Pension, Fertility and Endogenous Growth in China”, Statistical Research, Vol.26, No.5, May 2009: 19-23. Reprinted in Social Security System, Information Center for Social Sciences, Renmin University of China, Sept. 2009: 19-23.

[16] Zaigui Yang, “Population Growth Rate, Life Expectancy and Pension Program Improvement in China”, Asia-Pacific Journal of Risk and Insurance, 2008. Vol. 2 (2): 19-30.

[17]Zaigui Yang, “Public Pension for Enterprise Employees, Benefit Replacement Rate and Population Growth Rate”, Statistical Research, Vol.25, No.5, 2008: 38-42

[18]Zaigui Yang, “China’s New Public Pension System and Social Pool Benefits and Individual Account Principal”, Chinese Journal of Population Science, No.4, 2007:74-79.

Monograph:

(1)Zaigui Yang, Pu Liao, “Actuarial Report on the Basic Old-Age Insurance for Enterprise Employees in China”, China Labour & Social Security Publishing House, 2019.

(2)Zaigui Yang, “Actuarial Analysis on Public Pensions in China”. Beijing: China Financial and Economic Publishing House, 2018.

(3)Zaigui Yang, “Chinese Public Pensions Analyzed by OLG Models”. New York: Nova Science Publishers, 2015.

(4)Zaigui Yang, “OLG Model Analysis on Public Pension: Principles and Applications”. Beijing: Guangming Daily Publishing House, 2010.

(5) “Insurance Company Accounting”. Beijing: China Reform Publishing House, 1999.

Research Grants

[1]National Social Science Foundation Project: “Early warning indicators of financial risk of enterprise employees' basic pension system based on Lee-Carter model” No. 16BJY143. (Leading researcher of the project group)

[2]Major Program of the Key Research Institute on Humanities and Social Science of China Ministry of Education:“Financial early warning index of Chinese social insurance based on big data” No. 16JJD630014. (Leading researcher of the project group)

[3]Key Project of Beijing Social Science Foundation: “Actuarial evaluation on fiscal burden of pension system for government and public institution employees”No.15JGA023. 2015-2018. (Leading researcher of the project group)

[4]Programming Project of Beijing Philosophy and Social Science: “Effect of population aging on saving, consumption and social security in Beijing, based on OLG model” No. 11JGB089. 2011-2014. (Leading researcher of the project group)

[5]Project supported by the Program for New Century Excellent Talents in Universities of China Ministry of Education: “Uncertain lifetime, altruistic behavior and pension contribution rate” No. NCET-11-0755.

[6]Major Program of the Key Research Institute on Humanities and Social Science of China Ministry of Education: “Effect of the new type rural public pension on rural economy—based on OLG model”. No. 10JJD790038. 2010-2013. (Leading researcher of the project group)

[7]Project of Humanities and Social Science Foundation of China Ministry of Education: “An analysis on new public pension system in 2005, individual account and social pool funds based on OLG model”. No. 06JA630079. 2006-2009. (Leading researcher of the project group)

[8]Project of China Insurance Regulatory Commission: “A research on the rural old-age insurance system”, 2008-2009. (Leading researcher of the project team)

Honours/Awards

(1)Yongjin Teacher Academic Research Award, Central University of Finance and Economics, 2019.

(2)“Is the pension fund a huge devaluation?”Excellent paper in the first annual meeting of the China Labor Economy Society. Nov. 2016.

(3)Chengxin Application Award for outstanding academic achievement, Central University of Finance and Economics, 2014.

(4)“Optimization of contribution rates and individual account real asset ratioinpublic pension”, Best article of Peking University China Center for Insurance and Social Security Research (CCISSR) Forum 2014 Annual Conference. Apr. 2014.

(5)Chengxin Excellent Academic Research Award, Central University of Finance and Economics, 2013.

(6)“Effect of population aging on savings, consumption and pension benefits in Beijing”, Excellentpaper in the 2012 Chinese Economics Forum, Sept. 2012.

(7)Chengxin Excellent Academic Research Award, Central University of Finance and Economics, 2012.

(8)Yongjin Teacher Academic Research Award, Central University of Finance and Economics, 2011.

(9)“New-style rural old-age insurance and peasant income growth”. Best article of Peking University China Center for Insurance and Social Security Research (CCISSR) Forum 2011 Annual Conference. Apr. 2011.

(10)Zilanshuhui Outstanding Teaching Award, Central University of Finance and Economics, 2010.