Hu Ru-yin is currently the director of Shanghai Stock Exchange Research Center. He is a specially-engaged consultant with the Shanghai Municipal Government, and a member of the China Financial Association. His main research areas include industrial organization, modern corporate theory, modern financial markets, and new institutional economics. In 1988 and 1992, he won the Sun Ye-fang Economics Book Prize. He is the author of The Inefficient Economics: Rethinking the Theory of Authoritarian System.