At the lecture site, Prof. Zhou first looked back at history and briefly talked about the rise of merchant groups during the Ming and Qing dynasties. Then, with extensive citations and vivid elaboration, he recounted the three waves of wealth accumulation that enabled Shanxi merchants to achieve great success: they earned their "first bucket of gold" by leveraging the "Kaizhong Salt Law" (a salt monopoly system in ancient China), took advantage of this opportunity to build Sino-Mongolian and Sino-Russian trade routes such as the "Grassland Silk Road", and finally made a magnificent transformation to operate piaohao (ancient Chinese remittance and banking institutions). Through this narrative, he gradually reconstructed the grand commercial landscape of Shanxi merchants in the era when land transportation dominated. All of this was inseparable from the corporate governance model of Shanxi merchants' family businesses. By explaining models such as the "donghuo system" (a partnership system where "dong" referred to investors and "huo" to managers), the "gufeng system" (a profit-sharing system based on shares), strict institutional regulations for piaohao, and the family joint-stock operation system, Prof. Zhou conducted an in-depth analysis of the innovative aspects of Shanxi merchants' management system in their time, the lessons that can be learned for the contemporary era, as well as its limitations and shortcomings constrained by the historical context.

Prof. Zhou emphasized that merchant groups historically served as pivotal commercial organizations and decision-making entities in China's economic activities. The renowned regional merchant alliances, exemplified by the "Ten Great Merchant Groups" including Shanxi and Hui merchants, constituted the most influential commercial force in Ming-Qing society, with trade networks spanning nationwide and extending overseas. He further noted that "the historical economic practices represented by these Ming-Qing merchant groups continue to profoundly shape contemporary economic development. The traditional commercial culture accumulated through their activities functions as a unique form of intangible 'regional capital,' serving as both a dynamic impetus and deep-rooted foundation for China's modern economic progress."

During the interactive Q&A session, Prof. Zhou fielded questions on "distinctions between Huizhou Merchants and the Dongting Merchant Group," "causes of the widening economic disparities between northern and southern China," and "operational cultural differences between state-owned enterprises (SOEs) and private enterprises." Drawing on his research, he emphasized that "the developmental trajectory of merchant groups cannot be equated with the economic status of their regions of origin"—a divergence attributable to multifaceted factors including business models and regional business environments. He further urged audiences to "extract managerial wisdom from China's enduring cultural heritage and historical commercial practices" to pioneer management paradigms with Chinese characteristics. The session culminated in a dynamic exchange of perspectives among participants.

Yang Zhengwei, Member of the Party Working Committee of Lin-gang Special Area and Executive Deputy Director of Lin-gang Special Area Administration(LSAA), attended the event and presented the commemorative lecture plaque. Over 300 participants—including representatives from relevant departments of Peking University International Sci-Tech Innovation Center at Lin-gang Special Area, China (Shanghai) Pilot Free Trade Zone(PKU-IICSH), Peking University alumni, and registered citizens—joined the event.

Before the lecture, Prof. Zhou conducted an on-site inspection of PKU-IICSH, visited the Party-Mass Service Center, and offered kind guidance on the center’s development.