Ambassador Yang chairs The Asian Corporate Governance Association based in Hong Kong, a non-profit organization dedicated to improving corporate governance practices in Asia. She is an independent, non-executive director on the board of The Bank of China ( Hong Kong), a listed company on the Hong Kong Stock Exchange. She is a member of the board's Audit Committee and the Convener of the Strategic Planning Group at the bank. From 1993 to 1999, she was the U.S. Ambassador and Executive director to the Board of Directors of The Asian Development Bank in Manila. Ambassador Yang was the first woman Executive Director appointed by the United States Government to the board of a multilateral financial institution and the first Executive Director appointed by President Clinton and confirmed by the U.S. Senate. At her retirement in December 1999, Ambassador Yang was presented the Distinguished Service Award by the then U.S. Secretary of the Treasury Lawrence H. Summers. Ambassador Yang is a Trustee of The Asia Foundation, a director on the board of The Committee of 100, a national Chinese American organization, and The Center on Asia Pacific Policy, RAND Corporation. She is also a director on the board of The Pacific Pension Institute and its Program Committee. The institutes's members are among the largest public pensions in the United States, Canada, Japan, Korea, China, Thailand, Malaysia, and Singapore with total assets of over US$ 1.0 trillion under management. A member of the Council on Foreign Relations, Ambassador Yang is a graduate of St. John's University in Shanghai and earned her Master of Philosophy degree in Economics from Columbia University of New York.