| 02 | The President issued a decree to promulgate the Act Governing the Establishment of the Chung-Hua Institution for Economic Research. Hired Tzu-Kai Chang, Kuo-Hwa Yu, Kwoh-Ting Li, Shih-Yi Chung, and Chen-Hsing Yen as the appointed board members. Elected Kuo-Shu Liang, Wan-Jung Kuo, Tzong-Shian Yu, Ying-Chang Koo, San-Lien Wu, Yung-Ching Wang, and Yu-Ziang Hsu as the inaugural elected board members. Through mutual election by the standing directors, Tzu-Kai Chang was selected as the chairman, and former President Chia-Kan Yen was appointed as the honorary chairman. Academician Sho-Chieh Tsiang was appointed as the inaugural president, and Dr. Tzong-Shian Yu was appointed as the vice president. |
| 04 | Invited Milton Friedman, Professor of Economics at Yale University and 1976 Nobel Laureate in Economics, to visit and deliver a lecture titled “The Invisible Hand in Economics and Politics.” |
| 07 | Officially established and founded The First Research Division, The Second Research Division, and The Third Research Division to focus on mainland Chinese economics, international economics, and Taiwan’s economics, respectively, in order to provide references for government policy planning. |
