Education

• Ph.D., Massachusetts Institute of Technology, 2012
  • Department of Mechanical Engineering
  • Doctoral Thesis: Efficient Buffer Design Algorithms for Production Line Profit Maximization
  • Committee Members: Dr. Stanley Gershwin (advisor), Dr. Stephen Graves, Dr. Brian Anthony
  • Minor: Finance
• M.Eng., Tsinghua University, 2007
  • Department of Precision Instruments and Mechanology
  • Graduate with the highest honors (top 2%)
  • Outstanding master’s thesis
  • Thesis: Study on the Look-Ahead Function Based Motion Control Algorithm for Continuous Micro Line Trajectories
  • Advisor: Dr. Peiqing Ye
• B.Eng., Tsinghua University, 2005
  • Department of Precision Instruments and Mechanology
  • Graduate with honors (top 10%)

Academic Experience

• Professor of Practice in Financial Engineering
  The Chinese University of Hong Kong, Shenzhen, School of Data Science, 08/2024 - present

Industry Experience

• Co-founder and Chief Data Scientist
  Beijing Liangxin Investment Management Co. Ltd., 09/2015 - present
  • Advanced time-series and cross-sectional data analysis using statistical modeling and machine learning.
  • Quantitative strategy development leadership.
  • Risk control expertise.
• Senior Member of Technical Staff
  Oracle America, Inc., Redwood Shores, CA, 01/2012 - 02/2016
  • Customer requirement analysis.
  • Data warehouse design.
  • Cross-functional collaboration.
  • Global team coordination and client interaction.
• Data Quality Analyst (Internship)
  Citigroup, Inc., Boston, MA, 06/2011 - 09/2011, 11/2011 - 01/2012
  • Data quality enhancement.
  • Advanced data profiling and cleansing.
• Modeling & Simulation Analyst (Internship)
  Procter & Gamble, Cincinnati, OH, 06/2010 - 08/2010
  • Production line optimization via advanced modeling and simulation techniques.
  • Development of simulation test protocol.

Professional Service

• Editorial board of Computers in Industry

Teaching/Mentoring Experience

• DDA3600 Factor Investing, CUHK(SZ)
  • Instructor, Fall 2024
• 2.853/4 Intro to Manufacturing Systems, MIT
  • Teaching Assistant, Fall 2007, 2009, 2010, and 2011
• Industry advisor for the Master of Finance program, Nanjing University

Guest Lectures/Invited Talks

• Keynote
  • 投研视角下的量化投资展望. 2025 中国金融科技学术年会人工智能与资产管理分论坛, 06/2025
  • 漫谈量化投资. 东北证券 2023 策略会总量专场, 02/2023
  • 因子投资的高维数时代. 2022 西部证券策略会, 12/2022
  • Map Theory to Practice: A Factor Investing Perspective. 海通证券量化投资论坛, 08/2021
  • 漫谈量化投资. 2021 年度北京 CFA 协会 CFA® 资格认证授证仪式暨金融论坛, 06/2021
  • 资产配置的 Dos 和 Don’ts. 开源证券中期策略会量化和资产配置专场, 05/2021
  • 因子投资实务思考. 华创证券因子投资量化论坛, 10/2020
  • 因子投资的几点思考. 东北证券 2020 年度中期策略会专家论坛, 07/2020
  • 基本面因子投资的三点思考. 海通证券基本面、量化与另类数据论坛, 10/2019
  • 商品期货中的量化投资. 中信期货大类资产配置及大宗商品应用论坛, 08/2019
• Lectures on advance in asset pricing/factor investing at universities
  • Xi’an Jiaotong-Liverpool University, 04/2025
  • Fudan University, 03/2025, 10/2021
  • Nanjing University, 06/2022
  • Shanghai Advanced Institute of Finance, 05/2022, 06/2021
  • Renmin University of China, 11/2021
  • Peking University, 12/2020
  • Tianjin University, 04/2020
• Lectures on quantitative investment at universities
  • Southwestern University of Finance and Economics, 06/2023
  • Central University of Finance and Economics, 06/2023
  • Nanjing University, 11/2021
  • Peking University HSBC Business School, 09/2021
  • Shanghai University, 07/2021
  • Peking University, 06/2021
  • Tsinghua University, 11/2018
• Lectures on advances in asset pricing/factor investing for institutional investors
  • E Fund Management, 10/2021
  • Fullgoal Fund Management, 10/2021, 11/2020
  • China Merchants Fund, 09/2021
  • China Southern Asset Management, 04/2021
  • ICBC Credit Suisse Asset Management, 03/2021
  • China Asset Management, 03/2021
  • Hua’an Fund Management, 12/2020
  • Hwabao WP Fund, 12/2020
  • Everbright Pramerica Fund, 12/2020
  • Bank of Communications Schroder Fund, 11/2020
  • Bosera Asset Management, 11/2020
  • Taikang Asset, 10/2020
  • Penghua Fund Management, 09/2020
• Invited Private Talks
  • Hongyuan Futures, 05/2024
  • COFCO Futures, 07/2023
  • SDIC Essence Futures, 05/2019

Referee for Journals

• Annals of Operations Research, Computers in Industry, IIE Transactions, European Journal of Operational Research, INFORMS Journal on Computing, Information Systems and e-Business Management, International Journal of Advanced Manufacturing Technology, International Journal of Computer Integrated Manufacturing, International Journal of Management Science (Omega), International Journal of Production Economics, International Journal of Production Research, International Journal of Physical Distribution & Logistics Management, Journal of Intelligent Manufacturing, Journal of Optimization Theory and Applications, Journal of the Operational Research Society, OR Spectrum, Probability in the Engineering and Informational Sciences, 管理科学学报

Books

• Zhang, M. X., T. Lu, and C. Shi (2025). Navigating the Factor Zoo: The Science of Quantitative Investing. Routledge

• Wang, X. and C. Shi (2022). Machine Learning and Asset Pricing (in Chinese). Publishing House of Electronics Industry
  • Chinese Title: 《机器学习与资产定价》
  • This book is the Chinese translation of Nagel, S. (2021). Machine Learning in Asset Pricing. Princeton University Press.
• Shi, C., Y. Liu, and X. Lian (2020). Factor Investing: Methodology and Practice (in Chinese). Publishing House of Electronics Industry
  • Chinese Title: 《因子投资：方法与实践》
  • 入选中国知网·中国科学文献计量评价研究中心“高被引图书 TOP 1%（2019-2023）”榜单

Book Chapter Contributions

• Chapter 6: Critical Data Elements: Identification, Validation, and Assessment
  In: R. Jugulum. Competing with Data Quality: Relevance and Importance in Industry, Wiley 2014

• Chapter 7: Prioritization of Critical Data Elements (Funnel Approach)
  In: R. Jugulum. Competing with Data Quality: Relevance and Importance in Industry, Wiley 2014

Selected Papers

• A graph-theoretic approach to detection of Parkinsonian freezing of gait from videos
  (with Q. Liu, J. Bao, X. Zhang, C. C. Liu, and R. Luo), Statistics in Medicine 44(5), 2025, e70020.

• Part sojourn time distribution in a two-machine line
  (with S. B. Gershwin), European Journal of Operational Research 248(1), 2016, 146-158

• A segmentation approach for solving buffer allocation problems in large production systems
  (with S. B. Gershwin), International Journal of Production Research 54(20), 2016, 6121-6141

• Improving financial services data quality - A Citigroup practice
  (with H. Heien, J. R. Talburt, R. A. Granese, D. W. Gray, R. Jugulum, R. Ramachandran, J. Singh, J. Hamilton, and H. I. Joyce), International Journal of Lean Six Sigma 6(2), 2015, 98-110

• Improvement of the evaluation of closed-loop production systems with unreliable machines and finite buffers
  (with S. B. Gershwin), Computers & Industrial Engineering 75(1), 2014, 239-256

• The look-ahead function based interpolation algorithm for continuous micro line trajectories
  (with P. Ye), International Journal of Advanced Manufacturing Technology 54(5-8), 2011, 649-668

• An efficient buffer design algorithm for production line profit maximization
  (with S. B. Gershwin), International Journal of Production Economics 122(2), 2009, 725-740

• Interpolation of continuous micro line segment trajectories based on look-ahead algorithm in high-speed machining
  (with P. Ye, K. Yang, and Q. Lv), International Journal of Advanced Manufacturing Technology 37, 2008, 881-897

• Look-ahead feedrate plan method based on the requirement of real time and its experimental study
  (with Q. Lv, H. Zhang, K. Yang, and H. Lu), Machine Tool & Hydraulics 36(4), 2008, 1-4

• Design of air-operated spring-based stand assist chair tracking knee joint torque for the elderly
  (with B. Lin), Virtual and Physical Prototyping 2(3), 2007, 173-179

• Study on S-shape curve acceleration and deceleration control on NC system
  (with T. Zhao, P. Ye, and Q. Lv), China Mechanical Engineering 18(7), 2007, 1421-1425

• Smooth transfer control algorithm of continuous segment trajectory in CNC system
  (with K. Yang, P. Ye, and Q. Lv), Journal of Tsinghua University (Science and Technology) 47(8), 2007, 1295-1299

• Study on end-point discrimination methods of circular interpolation
  (with B. Lin, P. Ye, and H. Zhang), Manufacturing Technology & Machine Tool, 2007, 86-90

• The practical study of the professional but non-required courses
  (with P. Ye and H. Zhang) Experimental Technology and Management 24(4), 100-103

• Study on control algorithm for continuous segments trajectory interpolation
  (with P. Ye and Q. Lv), Journal of Wuhan University of Technology 28(z2), 2006, 994-998

Working Papers

• From econometrics to machine learning: Transforming empirical asset pricing 2025, revise and resubmit

• Operations & supply chain management: Principles and practice
  (Crowdsourcing review paper with 92 coauthors), 2025, revise and resubmit

• Lead time distribution in a small manufacturing system with unreliable machines and finite buffers
  (with S. B. Gershwin), 2025

Permanent Working Papers

• Behavioral finance and empirical asset pricing 2025, SSRN 5137986

• Trend following strategies: A practical guide (with X. Lian), 2025, SSRN 5140633

• The evolution of asset allocation: From classical models to modern innovations 2024, SSRN 5194749

• Multiple hypothesis testing, empirical asset pricing, and factor investing 2024, SSRN 5145640

• Piotroski’s F-score in the Chinese stock market 2024, SSRN 5144971

• The profitability factor, its extensions, and evidence from China (with X. Lian), 2022, SSRN 5146149

• A composite four-factor model in China (with X. Lian), 2021, SSRN 3928587

• Refined book-to-market ratio and the cross-section of stock returns in China. (with X. Lian and Y. Liu), 2019

Refereed Conference Publications

• The additive property in long line optimization
  (with S. B. Gershwin), IFAC Conference on Manufacturing Modeling, Management and Control, Saint Petersburg, Russia, July 19-21, 2013

• Qualitative behavior of average buffer levels
  (with S. B. Gershwin), The 9th International Conference on Stochastic Models of Manufacturing and Service Operations, Kloster Seeon, Germany, May 25-30, 2013

• Part waiting time distribution in a two-machine line
  (with S. B. Gershwin), The 14th IFCA Symposium on Information Control Problems in Manufacturing (INCOM 2012), Bucharest, Romania, May 23-25, 2012

• The segmentation method for long line optimization
  (with S. B. Gershwin), The 8th International Conference on Stochastic Models of Manufacturing and Service Operations, Kusadasi, Turkey, May 28-Jan 2, 2011

• An efficient buffer design algorithm for production line profit maximization
  (with S. B. Gershwin) The 13th IFCA Symposium on Information Control Problems in Manufacturing (INCOM 2009), Moscow, Russia, June 3-5, 2009

• The look-ahead based adaptive motion control for high-speed machining of complicated contours, (with P. Ye, Q. Lv, and K. Yang), IEEE International Symposium on Assembly and Manufacturing, Ann Arbor, MI, July 22-25, 2007

• The recycling model of the printed circuit board and its economy evaluation
  (with Q. Niu, D. Xiang, X. Liu, and G. Duan), IEEE International Symposium on Electronics and the Environment, Orlando, FL, May 7-10, 2007

Honors/Awards

• Recipient of the Outstanding Contribution Award on the 40th Anniversary of the Publishing House of the Electronics Industry, 08/2022
• Winner of the Best Paper Prizes (10 out of 382 papers) of the 2013 IFAC Conference on Manufacturing Modelling, Management and Control, 05/2013
• Winner of the Best Paper Prize for Track D: Design of Reconfigurable Manufacturing Systems of INCOM 2012, 05/2012
• Full Member of Sigma Xi (nominated by MIT professors), 06/2011
• Certified Information Management Professional specializing in Data Quality, 07/2011
• Graduate with Highest Honors for Master’s Degree, Tsinghua University, 07/2007
• Outstanding Master’s Thesis, Tsinghua University, 07/2007
• Graduate with Honors for Bachelor’s Degree, Tsinghua University, 07/2005
• The Second Place Prize in the 6th Creative Machine Design Contest, Tsinghua University, 10/2004
• National Scholarship of China, 12/2004
• Academic Excellence Scholarship, Tsinghua University, 12/2003
• Academic Excellence Scholarship, Tsinghua University, 12/2002

References

• Will provide upon request.