Sun YeFang Economic Science Foundation was founded in June 1983 to commemorate the distinguished Chinese economist Sun YeFang for his significant contributions to the economic science and to encourage the growth of new economist and the prosperous development of economic science inChina. The Foundation was initiated by 55 celebrities including Bo Yibo, Yao Yilin, Gu MU, Zhang Jinfu, Rong Yiren, Xue Muqiao, Wang Daohan, Xu Dixin, Yu Guangyuan, Li Renjun, Mei Yi, Xu Xuehan, Sun Xiaocun, Ma Hong, Liu Guoguang, Sun Shangqing and etc. It was named Sun Yefang Economic Science Award Fund Commmittee when it was established. The Foundation was renamed and registered as Sun Yefang Economic Science Foundation in 1995 with approval of the People’s Bank of China and the Ministry of Civil Affairs.

Sun Yefang Economic Science Award, supported by Sun Yefang Economic Science Foundation biennially since 1984 to reward the economists who make significant attribution to economic research in China , has been reputed as the most famous and authoritative award in economics field. The Foundation has hold 13 award congresses inBeijing, Shenzhen, Rizhao and other cities in result of great social influence. The commission members of the Foundation are senior and famous economists such as Xue Muqiao, Yu Guangyuan, Ma Hong, Li Yining, Liu Guoguang, Wu Jinglian, Zhang Zhuoyuan, Zhou Shulian, Huang Da, Dong Furen and etc. During the last three decades, with the spirit of seeking truth discreetly of Sun Yefang as principles, the Foundation has selected and rewarded many new stars in Chinese economics research justly and fairly, among them some are in important authoritative positions such as Li Keqiang, Zhou Xiaochuan, Li Jiange, Chen Xiwen, Chen Qingtai, Wu Xiaoling, Guo Shuqing, Lou Jiwei, Wang Mengkui, Wang Luolin, Xie Fuzhan, Jiang Xiaojuan, Lin Yifu, Li Yang, Ma Jiantang, Liu Shijin and etc. Up to now, awards have been offered to 47 books and 156 articles, with a premium of two million RMB in total.

As an independent juridical association, the Foundation is to exercise management over the donations from both at home and abroad to grant prize to economists and entities who have made contributions toChina’s economic science, to organize and reward research and consulting work on important practically economic issues, to organize and carry out domestic and international academic exchange and cooperation. As a non-profit organization, the Foundation has many volunteers who work with dedicative spirit to promote its development.