Dr. Jie Luo is an assistant research fellow in the National Institute for Fiscal Studies, Tsinghua University. His research interests include sovereign debt, financial development, China's economy and dynamic contract theory. His work has been published in the Journal of International Economics, China & world Economy, and other journals. Dr. Luo received both his B.A. and Ph.D in economics from Fudan University.

Mr. Yifan Wu is a Research Assistant in the CUHK-Tsinghua University Joint Research Center for Chinese Economy. His research interests include microeconomics, international trade and firm innovation related to Chinese Economy. Recently, he is working on the impact of digitalization on heterogeneous firms' innovation. Mr. Wu received his BA in Economics from Zhejiang University.

Ms. Jin Han is a Research Assistant in the CUHK-Tsinghua University Joint Research Center for Chinese Economy. Her research interests include macroeconomics, economic growth, and industrial policy, mainly focusing on issues related to China. Recently, she is working on the impact of government subsidies on corporations’ TFP. Ms. Han received both her B.A. in economics and MPhil in finance from Xi’an Jiaotong University.

Ms. Shipeng Fu is a Junior Research Assistant in the CUHK-Tsinghua University Joint Research Center for Chinese Economy. Her research interests include macroeconomics, productivity and development economics. Recently, she is working on the price pass-through channel between on-line and off-line retail in China. Ms. Fu is an undergraduate student studying with BS of economics in Tsinghua University and is expected to graduate in 2022.