On June 4th, 2005, the 1st graduation ceremony of SNAI-ASU EMBA program was successfully held in SNAI. 63 students of the 1st EMBA class was honored with the diplomas by Mr. Lou Jiwei, vice minister of Ministry of Finance, P. R. China, and Mr. Michael Crow, president of ASU.

Mr. Li Kouqing, vice president of SNAI and Mr. Buck Pei, deputy dean of the W. P. Carey School of Business co-chaired the ceremony. Mr. Xia Dawei, president of SNAI and Mr. Robert E. Mittelstaedt, dean of the W. P. Carey School of Business made speeches to the students. Mr. Ai Baojun, general manger of Bao Steel Co. Ltd., made a speech on behalf of the 1st EMBA class. Mr. Michael Crow, president of ASU made a speech on "ECONOMIC DEVELOPMENT, HUMAN CAPITAL, AND THE UNIVERSITY". Mr. Lou Jiwei, vice minister of MOF China, Mr. Yu Weiping, deputy director-general, Department of Personnel & Education, MOF China, Wm. Polk Carey, founder and chairman of W. P. Carey & Co. LLC., and Mr. Edward C. Prescott, the 2004 Nobel Prize Laureate in Economics also attended the ceremony.