Esteemed economist passes away in Beijing

Li Yining, a pioneering economist renowned for his contributions to China's economic reform, passed away on Monday night in Beijing at the age of 92, a statement on the official website of Peking University said late on Monday.

The revered economist, who was a senior professor at PKU and honorary dean of its Guanghua School of Management, passed away at Peking Union Medical College Hospital at 7:31 pm on Monday, the statement said.

Li was also a member of the Communist Party of China, and a former member of the Chinese People's Political Consultative Conference's National Committee. His passing away is being widely mourned, particularly by those familiar with his contributions to China's economic reforms.