The authors argue that China has moved beyond the Open Door Period of university reform to a new era described as the Global Ambition Period. In this new era of university reform, the nation's policy makers focus a good deal of their attention on developing world-class universities. Evidence is drawn from national initiatives implemented by the Ministry of Education, in the form of Projects 211 and 985, as well as from case studies of three leading research universities. Findings from Peking University are used to highlight the significance of academic personnel reform as a key step in fostering a more competitive environment for promoting faculty productivity. The case of Tsinghua University is used to focus attention on the growing importance of university-industry relations as part of establishing the economic development potential of leading research universities. Finally, the case of Renmin University is used to highlight the growing importance of internationalization. Together, these three case studies highlight the ambitious character of China's 21st century vision for its leading research universities.