The 24^th Anniversary celebration event, Inaugural Lecture of the Distinguished Lecture Series featuring its first lecture, was held on the afternoon of March 28, 2024, at the N101 Auditorium of Macau University of Science and Technology (M.U.S.T.) The lecture was delivered by internationally renowned economist Justin Yifu Lin, a former Senior Vice-President of the World Bank and 2016 Honorary Doctor of Business Administration of M.U.S.T. The event also invited local and mainland experts in economics and policy research for a panel discussion, aiming to increase the understanding and knowledge of China's and international economics through this high-level academic lecture and exchange platform. The event was co-organized by the School of Business and the Institute of Development Economics of M.U.S.T. It was simultaneously live-streamed on M.U.S.T.'s WeChat video, Bilibili, and YouTube channel.

M.U.S.T. leaders and distinguished guests in attendance included: Chair Professor Joseph Hun-wei LEE, Vice-Chancellor and President of M.U.S.T.; Professor Justin Yifu Lin, Dean of the Institute of New Structural Economics at Peking University and 2016 Honorary Doctor of Business Administration of M.U.S.T.; Mr. Teng Sio Hong, Deputy Director of the Education and Youth Development Bureau of the Macao SAR; Chair Professor Tam Kwong Hang (PAUL), Vice-President of M.U.S.T., among others. In addition, there were also key leaders and representatives from mainland China and local businesses and institutions, as well as members of the University Council and the University Advisory Committee of M.U.S.T., representatives from the Alumni Federation around the world, and students and faculty from the University attending the lecture. With over 300 participants, adding brilliance to M.U.S.T.'s 24th-anniversary celebration month.

During the opening speech, Chair Professor Joseph Hun-wei LEE mentioned that M.U.S.T. was established in March 2000, growing and progressing alongside the Macao SAR Government. Over the past twenty-four years, the University has adhered to the motto of “Dedication to practical studies, Enhancement of knowledge, Ability and Quality” closely aligning with the development needs of Macao and the nation. It has established various educational programs, cultivating outstanding talents with solid theoretical foundations, strong practical and innovative capabilities, and moral integrity to serve society. Through this high-level academic lecture and discussion, it is hoped that it will enhance understanding and insight into the Chinese and international economy across various sectors.

Professor Justin Yifu Lin discussed “China and East Asia's Rise and Its Implications for Development Economics”, sharing insights into China's remarkable economic development since transitioning from a planned economy to a market economy in 1979. He delved into questions about China's extraordinary economic performance during its transition, the costs behind China's remarkable success, and the implications of China's development experience for other developing countries and economic research.

Chair Professor Francis T Lui moderated the panel discussion. Participating in the discussion were Professor Justin Yifu Lin; Professor Lin Zhi Jun, Senior Advisor to the President and Director of the Accounting Research Center of M.U.S.T., and Professor Liu Cheng Kun, Director of the Institute for Sustainable Development of M.U.S.T. The discussion focused on the effective promotion of economic development as well as optimizing government policies to sustain economic growth at a national or regional level.

The lecture concluded amidst enthusiastic interaction during the Q&A session, followed by a resounding applause throughout the audience.

Professor Justin Yifu Liu is a Professor and Dean of the Institute of New Structural Economics at Peking University and the Honorary Dean of the National School of Development at Peking University. In 1994, he founded the China Center for Economic Research at Peking University (now known as the National School of Development at Peking University) and served as its director. Currently, he serves as a Standing Committee Member of the National Committee of the CPPCC, Deputy Director of the Economic Affairs Committee of the National Committee of the CPPCC. He previously held positions such as Vice-Chairman of the All-China Federation of Industry and Commerce, member of the 7^th to 10^th National Committee of the CPPCC, Deputy Director of the Economic Committee of the 10^th National Committee of the CPPCC, member of the 11th National People's Congress, and Standing Committee Member of the 12^th and 13^th National Committee of the CPPCC. He is an Academician of The World Academy of Sciences for advancing science in developing countries (formerly the Third World Academy of Sciences) and a foreign Academician of the British Academy of Sciences. Professor Lin has been awarded honorary doctoral degrees from universities in the UK, France, the United States, Canada, Hong Kong, and Macao. He has published over 100 academic papers in domestic and international journals.

Chair Professor Joseph Hun-wei LEE, President of M.U.S.T. gave an opening speech

Chair Professor Joseph Hun-wei LEE, President of M.U.S.T. presented a souvenir to Professor Justin Yifu Lin

Group photo during the lecture

Professor Justin Yifu Li on "China and East Asia's Rise and Its Implications for Development Economics"

Chair Professor Francis T Lui moderated the panel discussion