Outstanding! Three boys won the grand prize in international contest!
The results of the 2022 International Mathematical Contest in Modeling were announced recently. The team of three 2019 undergraduate students of Ruixin Academy of Beijing Institute of Technology(BIT), Wen Zichen, Fu Ourui and Chen Zijie, won the Outstanding Winner (special prize).
Mathematical Contest in Modeling
Mathematical Contest in Modeling / Interdisciplinary Contest in Modeling (MCM/ICM), hosted by the Consortium for Mathematics and Its Applications (COMAP), is one of the most influential mathematical competitions in modeling in the world. It involves various fields such as economy, management, environment, resources, ecology, medicine, security, future technology and so on. The awards include Outstanding Winner, Finalist, Meritorious Winner and Honorable Mention.
In 2022, a total of 15105 teams from 22 countries and regions around the world participated in MCM competition. 23 teams, including the teams from BIT, won the Outstanding Winner award, with a winning rate of 0.15%.
Let’s take a peek into the outstanding team who have won such a competitive contest!
Within four days as specified, based on the five-year price curve of gold and bitcoin from 2016 to 2021, the team members used LSTM (Long Short Term Memory, an artificial neural network) to establish a time series prediction model, predicted the future price trend of gold and bitcoin respectively, with tools including Python and Tableau. Based on MLP (multi-objective linear programming), the team introduced operational research method to control the risk-return ratio while quantifying investments and developed an investment strategy for each trading day of the five-year period, i.e., a portfolio of cash, gold and bitcoin. Compared with the traditional investment strategy based on Grange's moving average rule, full position of gold and bitcoin investment strategy, the investment strategy generated by this model show better performance in 10 indicators such as annual return rate, profit and loss rate, so it has been highly praised by the competition judges.
Flow Chart of the Model
During the four-day competition, we arranged our schedule in a scientific way, and successfully completed modeling, coding and paper writing with efficient cooperation. This competition enabled us to have a deeper understanding of professional knowledge like machine learning, securities investment. It also provided us with an opportunity to apply knowledge to practical application, from which we benefited a lot.
-- Wen Zichen, Fu Ourui, Chen Zijie
The university has always attached great importance to the organization and guidance of mathematical discipline knowledge contests. Thanks to the construction of university-level experimental teaching platform and the comprehensive reform of the school of mathematics and statistics, the school has set up 4 mathematical discipline knowledge contest guidance teams to actively explore the training mode of practical and innovative talents in mathematics. In recent years, we have guided students to achieve great achievements many times in various competitions.
-- Leader of Mathematics competition
Associate Professor, School of Mathematics and Statistics Wang HongZhou
Awards and Certificates from 2020 to 2022
In recent years, BIT has put strong focus on the work of talent training center and strived to build a new system for talent training, which consists of values education, knowledge development and practical ability, and took participation in high-level professional competitions as a training ground for first-class talents. The diligent students of Beijing Institute of Technology have won the "special prize" of Mathematical Contest in Modeling for three consecutive years. Generations of BIT students have been carrying on the spirit of hard work and showing their extraordinary talent to the motherland with continuous excellent achievements!
Glory of BIT
2022 marks the year of the 20th National Congress of the Communist Party of China and a key year for the implementation of the "14th Five-Year Plan". The Publicity Department of the Party Committee launched a special column on "Welcome to the 20th National Congress and Forge a New Journey" to fully demonstrate the achievements of party building the school's strengthening of the party's leadership. We will vividly telling the story of the struggle of BIT workers, and gathering the majestic force of the school's development, greeted the convening of the 20th National Congress with excellent results.
As a sub-topic of "Welcome to the 20th National Congress of the Communist Party of China and Forge a New Journey", the column "Glory of BIT" will focus on outstanding achievements in talent training, technological innovation, social services, etc., and carry out diversified, multi-angle and multi-level publicity and show the achievements of first-class university construction in multiple dimensions.