Agenda

The Future of

Hong Kong Economy

September 28, 2022

Programme Rundown

8:30 a.m.

Registration

9:00 a.m.

Welcoming Remarks

Professor Y.C. Richard WONG, SBS, JP
Keynote Speaker

Professor Y.C. Richard Wong, SBS, JP
Director of the Hong Kong Institute of Economics and Business Strategy, Chair of Economics, Provost and Deputy Vice-Chancellor, HKU

Professor Y.C. Richard WONG, SBS, JP received his Ph.D. from the University of Chicago in 1981. He was Visiting Scholar at the National Opinion Research Center, University of Chicago in 1985 and at the Hoover Institution, Stanford University in 1989. He joined the School in September 1992, served as Director (1997-2000) of the School of Business, Dean (2001-04) and Acting Dean (2004-07) of the Faculty of Business and Economics, and Provost and Deputy Vice-Chancellor (2004-2010, 2019-).

Professor Wong is founding Director of the Hong Kong Centre for Economic Research (1987-) and the Hong Kong Institute of Economics and Business Strategy (1999-); a recipient of the Sir Antony Fisher International Memorial Award for his work in advancing economic research on policy issues in Hong Kong; and principal investigator of the Area of Excellence Grant in economic policy and business strategy awarded by the University Grants Committee in 1999; Chairman of the Council of the Becker-Friedman Institute, University of Chicago (2015-).

He had served on a number of public bodies, including, the Exchange Fund Advisory Committee, Housing Authority, Industry and Technology Development Council, and University Grants Committee; and on the Central Policy Unit, Chief Executive’s Commission on Innovation and Technology, Commission on Strategic Development-Committee on Economic Development and Economic Cooperation with the Mainland, Council of Advisors on Innovation and Technology, Dental Council, Economic Advisory Committee, Hospital Authority, Pacific Economic Cooperation Council (Hong Kong Committee), Land and Building Advisory Committee, Financial Secretary’s Services Promotion Strategy Group, Research Themes under the Research Endowment Fund Steering Committee, and Commission on Poverty Task Force on Social Security and Retirement Security.

Professor Wong was awarded the Silver Bauhinia Star in 1999 by the Government of the Hong Kong Special Administrative Region in recognition of his contributions to education, housing, and industry and technology development. He was appointed a Justice of the Peace in 2000.

He has been Chairman of the Judging Panel of the DHL/SCMP Hong Kong Business Awards since 2006.

His current research focuses are public housing in Hong Kong, inequality and intergenerational mobility in Hong Kong, early childhood intervention, the political economy of laissez faire in Hong Kong, and regional economic development in China.

His research on public housing studies the welfare effects of the government public housing strategy and recommends government to correct capital market imperfections in the mortgage loans market to help the public to purchase publicly provided for sale units. It also recommends the sale of existing public rental units to the sitting tenant and new financial arrangements for the unpaid premium on existing publicly provided for sale flats. The policy changes aims to improve efficiency and equity, restore the broken housing ladder, and promote social harmony and stability.

He is studying the political economy for the economic success in Hong Kong during the post-war period focusing on the policy of positive non-interventionism. It includes a detailed analysis of all major facets of the Hong Kong economy and society. Structural transformations of Hong Kong's economy and the new division of labour have given rise to numerous highly vocal special interest groups. The research is devoted to the articulation of the challenges and opportunities presented by the opening of China, the integration of Hong Kong with China under one-country two-system, the rising competition from regional neighbours amidst rapid structural transformation of the Hong Kong economy, and the globalization of world markets, with special emphasis on social mobility and intergenerational inequality.

Professor Wong has led pioneering efforts in studying regional economic development in the Pearl River Delta and Yangzi River Delta regions following China’s economic transformation. His research focused on the critical role of Hong Kong in regional and national economic development from the perspective of institutional change and innovation.

He previously wrote a column for the Hong Kong Economic Journal and South China Morning Post. He maintains a blog at http://www.wangyujian.com/.

Professor Y.C. Richard WONG, SBS, JP

Director of the Hong Kong Institute of Economics and Business Strategy,
Chair of Economics, Provost and Deputy Vice-Chancellor, HKU

9:05 a.m.

Keynote Session

The Honourable Paul CHAN Mo-po, GBM, GBS, MH, JP
Keynote Speaker

The Honourable Paul Chan Mo-po, GBM, GBS, MH, JP
Financial Secretary, The Government of the Hong Kong Special Administrative Region

Mr Chan is a Certified Public Accountant. He is a former President of the Hong Kong Institute of Certified Public Accountants.

Before joining the Government, Mr Chan held a number of public service positions including member of the Legislative Council and Chairman of Legal Aid Services Council.

Mr Chan served as Secretary for Development from July 2012 to January 2017. He has been Financial Secretary since 2017.

The Honourable Paul CHAN Mo-po, GBM, GBS, MH, JP

Financial Secretary, The Government of the Hong Kong Special Administrative Region

9:25 a.m.

Session 1 – Hong Kong’s future as Asia’s financial hub

Moderator:

Professor Shusong BA
Keynote Speaker

Professor Shusong Ba
Managing Director and Chief China Economist of Hong Kong Exchanges and Clearing Limited,
Chief Economist of The China Banking Association

Ba Shusong is a Managing Director and the Chief China Economist of Hong Kong Exchanges and Clearing Limited (HKEX). Based in Hong Kong, Professor Ba leads a team focused on research relating to Mainland China's economic and financial policy developments. His team is involved in a number of China-related strategic projects that seek to actively promote interaction and cooperation between HKEX and the Mainland.

In addition to his position at HKEX, Professor Ba is the Chief Economist of the China Banking Association (CBA) and holds of a number of academic and industry positions in Hong Kong and Mainland China. He is a member of the Mainland Opportunities Committee of the Financial Services Development Council (FSDC) of Hong Kong, an honorary advisor of The Hong Kong Institute of Bankers (HKIB), an executive director of the HSBC Financial Research Institute at Peking University, and a vice president of the China Society of Macroeconomics. He is also a member of the International Advisory Board for Research and Development of the Hong Kong Baptist University (HKBU).

Professor Ba has contributed to the publication of several Chinese-English bilingual books – including Global Commodities Market: From Spot to Futures; Mutual Market Connectivity and Hong Kong Market Innovations for New-Economy Financing; Bond Connect Scheme ― New Strategy for Internationalisation of China’s Bond Market; and New Progress in RMB Internationalisation ― Innovations in HKEX’s Offshore Financial Products – which have received industry recognition.

Professor Shusong BA

Managing Director and Chief China Economist of Hong Kong Exchanges and Clearing Limited,
Chief Economist of The China Banking Association

Panellists:

Mr Joseph CHAN
Keynote Speaker

Mr Joseph H. L. Chan, JP
Under Secretary for Financial Services and the Treasury
The Government of Hong Kong Special Administrative Region

Mr Chan was appointed the Under Secretary for Financial Services and the Treasury on 16 August 2017.

Mr Chan has many years of senior executive experience in the banking industry. He was a Managing Director in the Global Markets Division of Credit Agricole Corporate & Investment Bank, and was a Managing Director in Financial Markets of Standard Chartered Bank.

Prior to joining the Government, Mr Chan held multiple roles in a number of public and professional bodies, including Vice President of the Hong Kong Society of Financial Analysts, Director of Hong Kong Securities & Investment Institute, Advisor of the Chinese Gold & Silver Exchange Society, as well as a General Committee member of the Hong Kong General Chamber of Commerce. Mr Chan was also a member of the Central & Western District Council.

Mr Chan holds a Bachelor of Arts in Economics (Hon) and Psychology from the University of Michigan, USA. He is also a Chartered Financial Analyst.

Mr Joseph H. L. CHAN, JP

Under Secretary for Financial Services and the Treasury, The Government of Hong Kong Special Administrative Region

Professor Pingyang GAO
Keynote Speaker

Professor Pingyang Gao
Professor in Accounting, HKU Business School

Professor Gao joined HKU Business School in 2020 as professor and the head of the accounting and law area. Until then he had been on the faculty of Chicago Booth since 2008. He also spent the fall of 2019 at Yale as a visiting professor.

His research has focused on securities regulations, financial reporting and corporate governance. He is a recipient of American Accounting Association Competitive Manuscript Award and several Best Paper awards of conferences.  He has received several honors, including the IBM faculty fellowship, PCL Faculty Scholar, and Centel Foundation/Robert P. Reuss Faculty Scholar. He is a member of the Edward Alexander Bouchet Graduate Honor Society, a network of scholars who exemplify service and advocacy for students who have been traditionally underrepresented in the academia.

Gao received a bachelor's degree from Renmin University of China in 2002, a master's degree from Peking University in 2004, and a PhD degree from Yale University in 2008.

Professor Pingyang GAO

Professor in Accounting, HKU Business School

The Honourable Mrs Margaret LEUNG KO May-yee, SBS, JP
Keynote Speaker

The Honourable Mrs Margaret Leung Ko May-yee, SBS, JP
Member of the HKSAR Executive Council

Aged 70. Mrs. Leung is a member of the HKSAR Executive Council. She is Treasurer of the University of Hong Kong. She is a member of the National Committee of the Chinese People's Political Consultative Conference. She previously served as Chief Executive Officer of the Hang Seng Bank, Steward of the Hong Kong Jockey Club, Executive Committee Chairman of the Community Chest and served as Independent Non-executive Director of the Hong Kong Exchanges and Clearing Limited. Mrs. Leung was awarded the Silver Bauhinia Star in 2012.

The Honourable Mrs Margaret LEUNG KO May-yee, SBS, JP

Member of the HKSAR Executive Council

Mr. Peter Tung Shun WONG, GBS, JP
Keynote Speaker

Mr. Peter Tung Shun WONG, GBS, JP
Chairman, The Hongkong and Shanghai Banking Corporation Limited

Peter Wong Tung Shun is the Chairman of The Hongkong and Shanghai Banking Corporation Limited and The Hongkong Bank Foundation. He also sits on the board of a number of entities within the HSBC Group, including serving as Chairman and Non-executive Director of HSBC Bank (China) Company Limited.

Mr Wong holds roles with the Hong Kong Monetary Authority’s Academy of Finance, the Hong Kong Trade Development Council’s Belt and Road and Greater Bay Area Committee, the Hong Kong General Chamber of Commerce and The Hong Kong Institute of Bankers. He was awarded a Gold Bauhinia Star by the Hong Kong SAR Government in October 2020.

He is a Member of the 13th National Committee and the Vice Chairman of the Committee for Agriculture and Rural Affairs for the Chinese People’s Political Consultative Conference and a Board Member of China Banking Association.

Mr Wong is a Distinguished Fellow of the Business and Economics Faculty of The University of Hong Kong, a Member of International Advisory Board of Lingnan (University) College, and Chairman of the Advisory Committee of the HKFYG Leadership Institute.

Mr. Peter Tung Shun WONG, GBS, JP

Chairman, The Hongkong and Shanghai Banking Corporation Limited

10:20 a.m.

Break

10:35 a.m.

Session 2 – Hong Kong’s new economy

Moderator:

Professor Yuk-fai FONG
Keynote Speaker

Professor Yuk-fai Fong
Associate Dean (Taught Postgraduate), HKU Business School

Prof. Fong Yuk-fai is Professor of Economics, Professor of Management and Strategy, and Associate Dean (Taught Postgraduate) at the HKU Business School, University of Hong Kong. Prior to that, he was a faculty member at HKUST Business School and Kellogg School of Management. His research has appeared in leading international journals such as the Journal of Political Economy, Review of Economic Studies, RAND Journal of Economics, Journal of Economic Theory, International Economic Review, Games and Economic Behavior, Journal of Industrial Economics, and Journal of Economics and Management Strategy. He is currently serving as a Commission Member and Non-Governmental Advisor (NGA) to the International Competition Network (ICN) for Hong Kong Competition Commission.

Professor Yuk-fai FONG

Associate Dean (Taught Postgraduate), HKU Business School

Panellists:

Ms. Dee POON Chu-ying
Keynote Speaker

Ms. Dee Poon Chu-ying
President, Brands and Distribution, Esquel Group

Dee Poon is President of Brands and Distribution at Esquel Group, a knowledge-based innovation company that continuously pushes for positive change in the textile and apparel business, expanding into new territory to evolve with the industry and its customers.

Dee is a board member of the West Kowloon Cultural District Authority (Hong Kong) and M Plus Museum Limited. She is also a member of the International Advisory Committee of Harvard University’s Asia Center (Cambridge, MA), the Family Advisory Council of the Ownership Project at Oxford Saïd, as well as on the Global Steering Committee of Social Entrepreneurship to Spur Health (Hong Kong & London). She serves on The Conference Board’s Asia Corporate Leadership Council. She is also on the Board of Directors for the Esquel-Y.L. Yang Education Foundation. In 2014, Dee was selected as a Young Global Leader by the World Economic Forum and designated a Fellow of the Aspen Institute’s China Fellowship Program.

Actively engaged in the arts, Dee sits on the International Council of the Tate (London), and the International Council of The Museum of Modern Art (New York). She serves on the Board of Directors of the China Arts Foundation (Beijing & New York) and Asia Art Archive. Dee has also been on the Performance Committee at the Whitney Museum of American Art (New York), a member of the Lincoln Center China Advisory Council (New York), and was a co-founder of the Ambassadors of Design (Hong Kong). Her 42-second short film “An Exercise in Futility,” shot as part of 42x42, was screened at the Beijing International Film Festival as well as the Cannes Film Festival.

Before joining Esquel, Dee was an Editor-at-Large for iLook Magazine and a featured columnist for Modern Weekly, where she wrote about sustainability. Her 2008 pop-up retail venture DYSEMEVAS was one of the first to highlight the emerging Chinese design scene outside of China.

Dee graduated from Harvard University in 2004 with a BA in philosophy.

Ms. Dee POON Chu-ying

President, Brands and Distribution, Esquel Group

Professor Heiwai TANG
Keynote Speaker

Professor Heiwai Tang
Director, Asia Global Institute

Heiwai Tang is Victor and William Fung Professor in Economics, Director of the Asia Global Institute, as well as Associate Director of the Institute of China Economy and the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU). Prior to joining HKU, he was tenured Associate Professor of International Economics at the School of Advanced International Studies (SAIS) of Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas (U.S.), the Center of Economic Studies and Ifo Institute (CESIfo, Germany), the Kiel Institute for the World Economy (Germany) and the Globalization and Economic Policy Center (U.K.) as a research fellow. He has been a consultant to the World Bank, the International Finance Corporation, the United Nations, and the Asian Development Bank; and held visiting positions at the IMF, Stanford, MIT, Harvard. He is currently Managing Editor of Pacific Economic Review, and Associate Editor of the Journal of International Economics, the Journal of Comparative Economics and the China Economic Review. Since 2021, he has served on a number of public bodies, including the Currency Board Sub-Committee of the HKMA’s Exchange Fund Advisory Committee and the Minimum Wage Commission in Hong Kong.

Heiwai holds a Ph.D. in economics from MIT and a Bachelor of Science in mathematics from UCLA. His research interests span a wide range of theoretical and empirical topics in international trade, with a specific focus on production networks, global value chains, and China. His research has been published in leading journals in economics, including American Economic Review and Journal of International Economics. His research and opinions have been covered by BBC, Bloomberg, China Daily, CNA, CNN, Financial Times, New York Times, Al Jazeera, Foreign Policy, South China Morning Post, and various think tanks such as the Brookings Institution and the Peterson Institute for International Economics.

Professor Heiwai TANG

Director, Asia Global Institute

Mr. Peter YAN King-shun, JP
Keynote Speaker

Mr. Peter Yan King-shun, JP
CEO of Cyberport

Mr Yan is an industry leader with more than 35 years of experience in the information technology industry.  As the CEO of Cyberport, Mr Yan leads the digital technology flagship focusing on talent cultivation, industry development, and the integration of new and traditional economies.  Prior to joining Cyberport, Mr Yan was the Executive Director and CEO of SUNeVision and had held various senior management positions in large consulting and IT services companies including Accenture, Tradelink and Computer and Technologies.

Mr Yan has been active in public services and is a member of the Election Committee (the Technology and Innovation Subsector). He serves as a member of the Council of the City University and the Hong Kong Metropolitan University. Mr Yan is also a member of the Human Capital Committee of the Financial Services Development Council, a member of the Hong Kong Council for Accreditation of Academic and Vocational Qualifications, and various industry or professional organisations in the I&T sector.  He also lectures as an Adjunct Professor at the Chinese University of Hong Kong, and an Adjunct Associate Professor at the University of Hong Kong.

Mr Yan holds a BBA Degree from CUHK and was conferred the Honoree of the Year by the CUHK Chapter of Beta Gamma Sigma in 2020, and a Distinguished Fellow of the Hong Kong Computer Society in 2021. He also received Executive Education from the Harvard Business School.

Mr. Peter YAN King-shun, JP

CEO of Cyberport

Mr ZHANG Liping
Keynote Speaker

Mr. ZHANG Liping
Senior Managing Director and Chairman of Greater China, Blackstone Group

Liping Zhang is Senior Managing Director and Chairman, Greater China of Blackstone Group. Blackstone is the world’s largest alternative investment company with over $915 billion under management.

Mr. Zhang, who joined Blackstone Group in October 2015, has over 40 years of financial industry, corporate management and government sector experience. He commenced his career at China’s Ministry of Foreign Trade & Economic Cooperation in Beijing in the early eighties and held a number of senior positions at other organizations including Co-CEO, Greater China, a member of the Global Investment Bank Management Committee and Vice Chairman of the Global Investment Banking Department of Credit Suisse, Managing Director of Pacific Concord Group, Managing Director and Geographic Head – Greater China Region of Dresdner Banking Group and Director of Merrill Lynch Investment Banking Division.

Mr. Zhang graduated from Beijing University's school of International Business & Economics and received a master’s degree in International Affairs and International Law from St. John’s University in New York. He also attended NYU Stern's MBA program. He is currently a visiting professor of Business School of Hong Kong University (HKU), a member of the Career Development Advisory Council of the School of Business and Management in Hong Kong University of Science and Technology (HKUST), a member of the Board of Trustees of Beijing University of International Business and Economics, an executive member of the Yubuli, China Entrepreneurs Forum, a committee member of the Regional Comprehensive Economic Partnership (RCEP) Task Force on Trade and Investment of the Hong Kong Trade Development Council (HKTDC), member of the Chinese Overseas Friendship Association, a member of the Standing Committee of the Chinese People’s Political Consultative Conference, Guangxi Autonomous Region, and Founding Chairman of the Guangxi Educational Foundation for the Poor.

Mr. ZHANG Liping

Senior Managing Director and Chairman of Greater China, Blackstone Group

11:30 a.m.

Session 3 – Northern metropolitan development: The new centre of innovation in Hong Kong

Moderator:

Dr. Yanhui WU
Keynote Speaker

Dr. Yanhui Wu
Associate Professor in Economics, Management & Strategy, HKU Business School

Dr. Wu is Associate Professor of Economics and of Management and Strategy at the University of Hong Kong and the Associate Director of Institute of Digital Economy and Innovation. He is also a research fellow of the Centre for Economic Policy Research (CEPR, London) and a non-residential Fellow of the 21 Century China Center at UC San Diego. Prior to HKU, he was Assistant Professor of Finance and Business Economics at the Marshall School of Business, University of Southern California. His primary research interest is media economics, digital economy, big data economics, and the Chinese economy. His work has been published at top economics, management, and statistics journals. He received his Ph.D. in economics from the London School of Economics. Prior to his doctoral study, he was an award-winning financial journalist in China.

Dr. Yanhui WU

Associate Professor in Economics, Management & Strategy, HKU Business School

Panellists:

Professor Hongbin CAI
Keynote Speaker

Professor Hongbin Cai
Chair of Economics and Dean, HKU Business School

Professor Hongbin Cai is the Dean of the HKU Business School and Chair of Economics.  He received his B.A. in Mathematics from Wuhan University in 1988, his M.A. in Economics from Peking University in 1991, and his Ph.D. in Economics from Stanford University in 1997.  

From 1997 to 2005, he taught at the University of California, Los Angeles.  From December 2010 to January 2017, he served as Dean of Guanghua School of Management, Peking University.  He joined the HKU Business School in June 2017 and serves as the Dean since July 2017.  He is a National Chang Jiang Scholar (awarded by Ministry of Education of China) and a National Outstanding Young Researcher (awarded by National Science Foundation of China).  Professor Cai has published many academic papers in top international journals in economics and finance, in a wide range of areas including game theory, Chinese economy, industrial organization and corporate finance. 

Professor Cai was elected as a Fellow of the Econometric Society. He was a member of the National People’s Congress, and a member of the Central Committee of China Democratic League and Vice Chairman of its Committee of Economic Affairs.  He was the founding president of The Chinese Finance Association (TCFA, overseas).  He serves as an Independent Director on the boards of CCB International (Holdings) Limited and China Petroleum & Chemical Corporation.

Professor Hongbin CAI

Chair of Economics and Dean, HKU Business School

Mr. Kai-Fai KWOK, Adam
Keynote Speaker

Mr. Kai-Fai Kwok, Adam
Executive Director, Sun Hung Kai Properties Limited

Mr. Kwok has been an Executive Director of Sun Hung Kai Properties since December 2014. He is also a member of the Executive Committee of the Company. Mr. Kwok holds a Bachelor of Science degree in Management Science and Engineering from Stanford University and a Master’s degree in Business Administration from Harvard Business School. He worked in an international investment bank prior to joining the Group in November 2008, and has substantial experience in corporate finance. He was the project director taking charge of certain key residential and commercial projects of the Group in Hong Kong and the Pearl River Delta region. Since April 2013, he has taken up the overall responsibilities for the property business in Southern China.

In addition, Mr. Kwok is a vice-president of The Real Estate Developers Association of Hong Kong, a member of the Major Sports Events Committee, a member of board of directors of The Community Chest of Hong Kong, a member of the International Advisory Council of the Faculty of Business and Economics of The University of Hong Kong, an advisor of Our Hong Kong Foundation and a president of Hong Kong United Youth Association. He is also a standing committee member of the Guangdong Provincial Committee of the Chinese People’s Political Consultative Conference, a founder and deputy chairman of Hong Kong Guangdong Youth Association, a standing committee member of All-China Youth Federation, a member of the chairman’s committee of Friends of Hong Kong Association Development Foundation and a vice-chairman of Greater Bay Area Homeland Youth Community Foundation.

Mr. Kwok is a nephew of Mr. Kwok Ping-luen, Raymond. He is also a grandson of Madam Kwong Siu-hing, who is the elder sister of Mr. Kwong Chun and also a substantial shareholder of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Mr. Kwok is a cousin of Messrs. Kwok Kai-wang, Christopher, Kwok Kai-chun, Geoffrey and Kwok Ho-lai, Edward.

 

Mr. Kai-Fai KWOK, Adam

Executive Director, Sun Hung Kai Properties Limited

Ms. Bernadette LINN Hon Ho, JP
Keynote Speaker

Ms. Bernadette LINN Hon Ho, JP
Secretary for Development, The Government of the Hong Kong Special Administrative Region

Ms Bernadette Linn was appointed the Secretary for Development on 1 July 2022.

She joined the Administrative Service in 1989 and rose to the rank of Administrative Officer Staff Grade A1 in 2019. She has served in various bureaux and departments, including appointments as Deputy Secretary for Education in 2005, Deputy Secretary for Financial Services and the Treasury (Treasury) in 2008, Private Secretary to the Chief Executive in 2010, Director of Lands in 2012 and Permanent Secretary for Development (Planning and Lands) in 2017.

Ms Linn holds a Bachelor Degree from the University of Hong Kong (major in Literature) and a Master Degree from the University of Michigan, Ann Arbor (major in Communication Studies).

Ms. Bernadette LINN Hon Ho, JP

Secretary for Development, The Government of the Hong Kong Special Administrative Region

Dr. Hon Stephen WONG Yuen-shan
Keynote Speaker

Dr. Hon Stephen Wong Yuen-shan
Member of the Legislative Council, Senior Vice President & Executive Director of Public Policy Institute, Our Hong Kong Foundation Limited

Dr. Stephen Wong earned his Bachelor of Arts (Phi Beta Kappa) in Economics from the University of Chicago and took his Master of Arts in East Asian Studies (Whitney and Betty MacMillan Center for International and Area Studies) from Yale University.

Dr. Stephen Wong began his career as an investment banker; he was in managerial roles with several global financial institutions, including as Executive Director at UBS (London) and Managing Director at RBS. He joined Our Hong Kong Foundation (OHKF) as Senior Consultant in May 2015 and was appointed Deputy Executive Director cum Head of Public Policy in November the same year. He is currently Senior Vice President & Executive Director of Public Policy Institute.

In public service, he sits on multiple statutory and advisory bodies including as Member of the Financial Services Development Council; Member of the Urban Renewal Authority; Former Member of the Town Planning Board, Co-opted Member of Commission on Poverty’s Social Innovation & Entrepreneurship Development Fund (SIE Fund) Task Force; Member of the Housing Authority’s Investment Sub-Committee; Member of the Task Force for the Study on Tenancy Control of Subdivided Units; Member of the “Innovation and Technology Fund for Application in Elderly and Rehabilitation Care”  Assessment Panel; and former Member of the Task Force on Land Supply.

Dr. Stephen Wong is active in community service, serving as Vice Chairman of the Admissions, Budgets & Allocations Committee and Member of the Investment Sub-Committee of The Community Chest of Hong Kong. He is also Advisory Committee Chair of the Social Enterprise and Innovation Platform under the Hong Kong Council of Social Service – for which he is also an Executive Committee Member. In addition, he is Adjunct Associate Professor at the Institute for China Business of HKU SPACE.

Dr. Stephen Wong is a change agent in public policy and a devoted supporter of community welfare, including poverty alleviation and disaster relief in the mainland. In addition to working closely with officials, academics and professionals in Hong Kong, he has forged partnerships with think tanks and scholars in Mainland China as well as internationally. He is articulate in addressing public issues, appearing frequently as a commentator in TV and radio programs and is also a featured columnist in a wide range of newspapers and publications.

Dr. Hon Stephen WONG Yuen-shan

Member of the Legislative Council, Senior Vice President & Executive Director of Public Policy Institute, Our Hong Kong Foundation Limited

12:25 p.m.

Lunch & Keynote Session (The keynote session is exclusive to patrons)

Speaker:

Mr. ZHANG Tao
Keynote Speaker

Dr. Zhang Tao
Chief Representative for Asia and the Pacific, The Bank of International Settlements
Former Deputy Governor of the People’s Bank of China
Former Deputy Managing Director of the International Monetary Fund (IMF)

Mr. Tao ZHANG has been Chief Representative of the Bank for International Settlements (BIS) Office of Asia and the Pacific since September 2022. Prior to this, he was Chairman of the Supervisory Board at the People’s Insurance Company (Group) of China Limited (PICC). He also served as Deputy Managing Director of the International Monetary Fund (IMF) in Washington, DC during 2016-2021.

Mr. Zhang has extensive policy making experiences both in international arena and at the national level in China. As the IMF’s Deputy Managing Director, he oversaw the Fund's engagement with more than 100 member countries around the world. As a key member of the IMF’s Management Team, he had a wide portfolio, ranging from financial stability policies, fintech and digital currencies, climate change, sustainable growth, gender, to anti-money laundering and combating the financing of terrorism. He played a key role in helping to strengthen the Fund’s relationship with partner institutions, from the World Bank to the UN family, and many other international and regional organizations. Earlier in his career, he had worked as an economist at the World Bank in Washington, DC (1995-1997), and the Asian Development Bank in Manila, the Philippines (1997-2004).

Mr. Zhang also held senior positions with the People’s Bank of China (PBOC), China’s central bank, including as a Deputy Governor and heads of various departments, and contributed to a broad range of policy issues, including research, fintech, institutional reforms, statistics, legal, and international affairs since 2004.

Mr. Zhang has an M.A. and Ph.D. in International Economics from the University of California, Santa Cruz, USA, and a B.S. Electrical Engineering and M.S. Financial Engineering from Tsinghua University, Beijing, China. He has published in both Chinese and English academic journals.

Dr. Tao ZHANG

Chief Representative for Asia and the Pacific, The Bank of International Settlements
Former Deputy Governor of the People’s Bank of China
Former Deputy Managing Director of the International Monetary Fund (IMF)

2:15 p.m.

Session 4 – Old problems, new solutions: Inequality and housing policy in Hong Kong

Moderator:

Dr. Vera Wing-han YUEN
Keynote Speaker

Dr. Vera Wing-han Yuen
Lecturer in Economics, HKU Business School

Vera Yuen is Lecturer at the HKU Business School. She earned her Ph.D. at the University of Hong Kong. She has been an enthusiastic researcher on housing and social policy. She wrote advocacy papers with think tanks on areas of housing, retirement protection, labor market, and media regulation. She sat on several public panels in housing, broadcasting, security, and education.

 

Dr. Vera Wing-han YUEN

Lecturer in Economics, HKU Business School

Panellists:

Professor CHENG Kai Ming
Keynote Speaker

Professor CHENG Kai Ming, SBS, JP
Emeritus Professor, Faculty of Education, HKU

Kai-ming Cheng is Professor Emeritus at the University of Hong Kong. He was Dean of Education, Vice-President and Senior Advisor to the President of the University. He taught at the Harvard Graduate School of Education as Visiting Professor 1996-2006. Trained as a mathematician, he was a school teacher and a principal before he pursued doctoral study at the London Institute of Education. He has been consultant with most of the major international organizations. He has been involved in institutional evaluation and accreditation, policy discussion and training in various jurisdictions, both developed and developing countries. He lectures at the National Academy of Education Administration, China, and SKOLKOVO, Russia. He created the Summer Institute on higher education at HKU, a learning programme for senior leaders in higher education from various countries. His current attention is on the fundamental changes in society and their challenges to education, and focusses on learning as the core business of education. He is on the Global Advisory Boards of various international organisations. He is member of China Education 30 Forum, which is a think tank cum advocate in China. Locally he was member of the Education Commission and was instrumental in the comprehensive reform which started 1999. Over the years, he chaired various policy committees relevant to education in Hong Kong.  He has delivered hundreds of keynotes around the world. He writes columns in Hong Kong Economic Journal Daily and Shanghai Education.

Professor Kai-Ming CHENG

Emeritus Professor, Faculty of Education, HKU

Professor LUM Y.S. Terry
Keynote Speaker

Professor Lum Y.S. Terry
Professor in Social Work and Social Administration, HKU

Professor Terry Lum is the Henry G. Leong Professor in Social Work and Social Administration at the University of Hong Kong. His research interests focus on aging policies. He is an advisor to the Hong Kong Government on long-term care policy and an invited member of two WHO committees on healthy aging and long-term care. He is an elected fellow of the Gerontological Society of America and is an Editor of the Journal of Aging and Mental Health. He was awarded the Career Leadership Award by the Association of Gerontology Education in Social Work in the United States in 2016. 

 

Professor LUM Y.S. Terry

Professor in Social Work and Social Administration, HKU

Mr. Jason YIP Wai Cheong
Keynote Speaker

Mr. Jason Yip Wai Cheong
CEO of MWYO and AsiaGlobal Fellow, Asia Global Institute

Jason Yip is the CEO at MWYO, an independent "think & do" tank on youth policy in Hong Kong. The organization has taken a pioneer role to conduct research with policy recommendation and test it through solid community programs. Their topics range from education to social participation, and from youth well-being to their employability.

Before returning to Hong Kong in 2019, Jason was the Regional Head of Unit at the government affairs & donor relations division of the International Committee of the Red Cross (ICRC), covering the Greater China, Malaysia and Singapore. During his development in the organization, Jason worked in the headquarters in Geneva to develop dialogue and mobilize resources with the member states to the Geneva Convention. In addition, he also stationed in Palestine, Afghanistan and Myanmar under the capacity of the ICRC Delegate. He was responsible for developing and implementing ICRC’s humanitarian initiatives in the battlefield. He had also experience in emergence relief, e.g. Sichuan’s earthquake in 2008 and migrant crisis in Andaman Sea in 2015. Jason has extensive experience in security analysis and building dialogues with non-state military groups.

Jason earned his master’s degree in International Relations from Waseda University in Japan and BBA from the University of Hong Kong. He was also selected as an AsiaGlobal Fellow by the AsiaGlobal Institute in 2020. He started his career as an analyst in Goldman Sachs. In 2018, Jason was awarded a Medal of Honour by the HKSAR Government and was selected as one of the Ten Outstanding Young Persons by Junior Chamber International Hong Kong (JCIHK).

Mr. Jason YIP Wai Cheong

CEO of MWYO and AsiaGlobal Fellow, Asia Global Institute

Professor Xiaodong ZHU
Keynote Speaker

Professor Xiaodong Zhu
Professor in Economics, HKU Business School

Ph.D., University of Chicago, 1991
M.S. (statistics), Wuhan University, 1985
B.S. (mathematics), Wuhan University, 1982.

Xiaodong Zhu is an economics professor in the Faculty of Business and Economics at the University of Hong Kong, and a professor emeritus at the University of Toronto. His main research areas are macroeconomics, growth and development, and the Chinese economy. He is a leading expert on the Chinese economy and his research on China has been published in leading economics journals such as the American Economic Review, Journal of Political Economy, Journal of Monetary Economics, International Economic Review, Journal of Development Economics, Review of Economic Dynamics, and Journal of Economic Perspectives. He was a co-editor of the China Economic Review and is on the editorial boards of several other economic journals.

Professor Xiaodong ZHU

Professor in Economics, HKU Business School

3:10 p.m.

Break

3:30 p.m.

Keynote Session (via Video Conference)

Professor Sir Christopher PISSARIDES
Keynote Speaker

Professor Sir Christopher Pissarides
Nobel Laureate in Economic Sciences 2010
Regius Professor of Economics, London School of Economics and Political Science

Sir Christopher Pissarides is the 2010 Nobel Prize laureate in economics, the Regius Professor of Economics at the London School of Economics and the Professor of European Studies at the University of Cyprus. He is a macroeconomist who specialises in the economics of labour markets, economic growth and structural change, especially as they relate to obstacles to free-market clearing. He has published extensively in academic journals and his book Equilibrium Unemployment Theory is a standard reference in the academic literature on unemployment, which has influenced extensively labour market policies. He has received several prizes, awards and prestigious Academy fellowships for his work, including the Grand Cross of the Republic of Cyprus and a knighthood from Queen Elizabeth II. In the last decade he has mainly worked on the employment implications of automation and artificial intelligence and on the emergence of China as a global economic power. He has recently been involved in the preparation of a Report on the development of the Greek economy, which bears his name, and through his position as Co-Chair of the Institute for the Future of Work in London he is actively involved in securing the conditions for the creation of good work in the age of automation.

Professor Sir Christopher PISSARIDES

Nobel Laureate in Economic Sciences 2010
Regius Professor of Economics, London School of Economics and Political Science

3:50 p.m.

Session 5 – The blueprint to prosperity: Hong Kong’s overall economic strategies

Moderator:

Professor Hongbin CAI
Keynote Speaker

Professor Hongbin Cai
Chair of Economics and Dean, HKU Business School

Professor Hongbin Cai is the Dean of the HKU Business School and Chair of Economics.  He received his B.A. in Mathematics from Wuhan University in 1988, his M.A. in Economics from Peking University in 1991, and his Ph.D. in Economics from Stanford University in 1997.  

From 1997 to 2005, he taught at the University of California, Los Angeles.  From December 2010 to January 2017, he served as Dean of Guanghua School of Management, Peking University.  He joined the HKU Business School in June 2017 and serves as the Dean since July 2017.  He is a National Chang Jiang Scholar (awarded by Ministry of Education of China) and a National Outstanding Young Researcher (awarded by National Science Foundation of China).  Professor Cai has published many academic papers in top international journals in economics and finance, in a wide range of areas including game theory, Chinese economy, industrial organization and corporate finance. 

Professor Cai was elected as a Fellow of the Econometric Society. He was a member of the National People’s Congress, and a member of the Central Committee of China Democratic League and Vice Chairman of its Committee of Economic Affairs.  He was the founding president of The Chinese Finance Association (TCFA, overseas).  He serves as an Independent Director on the boards of CCB International (Holdings) Limited and China Petroleum & Chemical Corporation.

Professor Hongbin CAI

Chair of Economics and Dean, HKU Business School

Panellists:

Mr. Antony LEUNG Kam Chung, GBS, OBE, JP
Keynote Speaker

Mr. Antony Leung Kam Chung, GBS, OBE, JP
Group Chairman, Nan Fung Group

Mr. Antony Leung, former Financial Secretary of Hong Kong Special Administrative Region, is Group Chairman of Nan Fung Group, a leading regional conglomerate focusing on property, investment and life sciences businesses. He is also Group Chairman & Co-Founder of New Frontier Group, one of the leading privately owned health care businesses in China, and Chairman & Co-Founder of Solomon Learning Group, a Hong Kong-based social enterprise that promotes education of money and morals. Concurrently, Mr. Leung is the chairman of two charity organizations - Heifer Hong Kong and Food Angel as well as an Independent Non-Executive Director of China Construction Bank.

Mr. Leung also had extensive experience in financial services, including Chairman of Greater China of Blackstone, Chairman of Asia of JP Morgan Chase, Asia Head of Citi Private Bank, Regional Head of Citi Investment Bank, Treasury and Greater China. In addition, he was Independent Director of China Merchants Bank, Industrial and Commercial Bank of China, China Mobile (Hong Kong) Limited, American International Assurance (Hong Kong) Limited, International Advisory Board Member of China Development Bank and Chairman of Harvard Business School Association of Hong Kong. His past public service included Non-Official Member of the Executive Council, Chairman of Education Commission, Chairman of University Grants Committee, Member of Exchange Fund Advisory Committee, Director of Hong Kong Airport Authority and Hong Kong Futures Exchange, Member of the Preparatory Committee and Election Committee for the Hong Kong Special Administrative Region and Hong Kong Affairs Advisors.

 

Mr. Antony LEUNG Kam Chung, GBS, OBE, JP

Group Chairman, Nan Fung Group

Professor Sir Christopher PISSARIDES
Keynote Speaker

Professor Sir Christopher Pissarides
Nobel Laureate in Economic Sciences 2010
Regius Professor of Economics, London School of Economics and Political Science

Sir Christopher Pissarides is the 2010 Nobel Prize laureate in economics, the Regius Professor of Economics at the London School of Economics and the Professor of European Studies at the University of Cyprus. He is a macroeconomist who specialises in the economics of labour markets, economic growth and structural change, especially as they relate to obstacles to free-market clearing. He has published extensively in academic journals and his book Equilibrium Unemployment Theory is a standard reference in the academic literature on unemployment, which has influenced extensively labour market policies. He has received several prizes, awards and prestigious Academy fellowships for his work, including the Grand Cross of the Republic of Cyprus and a knighthood from Queen Elizabeth II. In the last decade he has mainly worked on the employment implications of automation and artificial intelligence and on the emergence of China as a global economic power. He has recently been involved in the preparation of a Report on the development of the Greek economy, which bears his name, and through his position as Co-Chair of the Institute for the Future of Work in London he is actively involved in securing the conditions for the creation of good work in the age of automation.

Professor Sir Christopher PISSARIDES

Nobel Laureate in Economic Sciences 2010
Regius Professor of Economics, London School of Economics and Political Science

Professor Heiwai TANG
Keynote Speaker

Professor Heiwai Tang
Director, Asia Global Institute

Heiwai Tang is Victor and William Fung Professor in Economics, Director of the Asia Global Institute, as well as Associate Director of the Institute of China Economy and the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU). Prior to joining HKU, he was tenured Associate Professor of International Economics at the School of Advanced International Studies (SAIS) of Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas (U.S.), the Center of Economic Studies and Ifo Institute (CESIfo, Germany), the Kiel Institute for the World Economy (Germany) and the Globalization and Economic Policy Center (U.K.) as a research fellow. He has been a consultant to the World Bank, the International Finance Corporation, the United Nations, and the Asian Development Bank; and held visiting positions at the IMF, Stanford, MIT, Harvard. He is currently Managing Editor of Pacific Economic Review, and Associate Editor of the Journal of International Economics, the Journal of Comparative Economics and the China Economic Review. Since 2021, he has served on a number of public bodies, including the Currency Board Sub-Committee of the HKMA’s Exchange Fund Advisory Committee and the Minimum Wage Commission in Hong Kong.

Heiwai holds a Ph.D. in economics from MIT and a Bachelor of Science in mathematics from UCLA. His research interests span a wide range of theoretical and empirical topics in international trade, with a specific focus on production networks, global value chains, and China. His research has been published in leading journals in economics, including American Economic Review and Journal of International Economics. His research and opinions have been covered by BBC, Bloomberg, China Daily, CNA, CNN, Financial Times, New York Times, Al Jazeera, Foreign Policy, South China Morning Post, and various think tanks such as the Brookings Institution and the Peterson Institute for International Economics.

Professor Heiwai TANG

Director, Asia Global Institute

Professor Y.C. Richard WONG, SBS, JP
Keynote Speaker

Professor Y.C. Richard Wong, SBS, JP
Director of the Hong Kong Institute of Economics and Business Strategy, Chair of Economics, Provost and Deputy Vice-Chancellor, HKU

Professor Y.C. Richard WONG, SBS, JP received his Ph.D. from the University of Chicago in 1981. He was Visiting Scholar at the National Opinion Research Center, University of Chicago in 1985 and at the Hoover Institution, Stanford University in 1989. He joined the School in September 1992, served as Director (1997-2000) of the School of Business, Dean (2001-04) and Acting Dean (2004-07) of the Faculty of Business and Economics, and Provost and Deputy Vice-Chancellor (2004-2010, 2019-).

Professor Wong is founding Director of the Hong Kong Centre for Economic Research (1987-) and the Hong Kong Institute of Economics and Business Strategy (1999-); a recipient of the Sir Antony Fisher International Memorial Award for his work in advancing economic research on policy issues in Hong Kong; and principal investigator of the Area of Excellence Grant in economic policy and business strategy awarded by the University Grants Committee in 1999; Chairman of the Council of the Becker-Friedman Institute, University of Chicago (2015-).

He had served on a number of public bodies, including, the Exchange Fund Advisory Committee, Housing Authority, Industry and Technology Development Council, and University Grants Committee; and on the Central Policy Unit, Chief Executive’s Commission on Innovation and Technology, Commission on Strategic Development-Committee on Economic Development and Economic Cooperation with the Mainland, Council of Advisors on Innovation and Technology, Dental Council, Economic Advisory Committee, Hospital Authority, Pacific Economic Cooperation Council (Hong Kong Committee), Land and Building Advisory Committee, Financial Secretary’s Services Promotion Strategy Group, Research Themes under the Research Endowment Fund Steering Committee, and Commission on Poverty Task Force on Social Security and Retirement Security.

Professor Wong was awarded the Silver Bauhinia Star in 1999 by the Government of the Hong Kong Special Administrative Region in recognition of his contributions to education, housing, and industry and technology development. He was appointed a Justice of the Peace in 2000.

He has been Chairman of the Judging Panel of the DHL/SCMP Hong Kong Business Awards since 2006.

His current research focuses are public housing in Hong Kong, inequality and intergenerational mobility in Hong Kong, early childhood intervention, the political economy of laissez faire in Hong Kong, and regional economic development in China.

His research on public housing studies the welfare effects of the government public housing strategy and recommends government to correct capital market imperfections in the mortgage loans market to help the public to purchase publicly provided for sale units. It also recommends the sale of existing public rental units to the sitting tenant and new financial arrangements for the unpaid premium on existing publicly provided for sale flats. The policy changes aims to improve efficiency and equity, restore the broken housing ladder, and promote social harmony and stability.

He is studying the political economy for the economic success in Hong Kong during the post-war period focusing on the policy of positive non-interventionism. It includes a detailed analysis of all major facets of the Hong Kong economy and society. Structural transformations of Hong Kong's economy and the new division of labour have given rise to numerous highly vocal special interest groups. The research is devoted to the articulation of the challenges and opportunities presented by the opening of China, the integration of Hong Kong with China under one-country two-system, the rising competition from regional neighbours amidst rapid structural transformation of the Hong Kong economy, and the globalization of world markets, with special emphasis on social mobility and intergenerational inequality.

Professor Wong has led pioneering efforts in studying regional economic development in the Pearl River Delta and Yangzi River Delta regions following China’s economic transformation. His research focused on the critical role of Hong Kong in regional and national economic development from the perspective of institutional change and innovation.

He previously wrote a column for the Hong Kong Economic Journal and South China Morning Post. He maintains a blog at http://www.wangyujian.com/.

Professor Y.C. Richard WONG, SBS, JP

Director of the Hong Kong Institute of Economics and Business Strategy, Chair of Economics, Provost and Deputy Vice-Chancellor, HKU

4:45 p.m.

Closing Remarks

Professor Hongbin CAI
Keynote Speaker

Professor Hongbin Cai
Chair of Economics and Dean, HKU Business School

Professor Hongbin Cai is the Dean of the HKU Business School and Chair of Economics.  He received his B.A. in Mathematics from Wuhan University in 1988, his M.A. in Economics from Peking University in 1991, and his Ph.D. in Economics from Stanford University in 1997.  

From 1997 to 2005, he taught at the University of California, Los Angeles.  From December 2010 to January 2017, he served as Dean of Guanghua School of Management, Peking University.  He joined the HKU Business School in June 2017 and serves as the Dean since July 2017.  He is a National Chang Jiang Scholar (awarded by Ministry of Education of China) and a National Outstanding Young Researcher (awarded by National Science Foundation of China).  Professor Cai has published many academic papers in top international journals in economics and finance, in a wide range of areas including game theory, Chinese economy, industrial organization and corporate finance. 

Professor Cai was elected as a Fellow of the Econometric Society. He was a member of the National People’s Congress, and a member of the Central Committee of China Democratic League and Vice Chairman of its Committee of Economic Affairs.  He was the founding president of The Chinese Finance Association (TCFA, overseas).  He serves as an Independent Director on the boards of CCB International (Holdings) Limited and China Petroleum & Chemical Corporation.

Professor Hongbin CAI

Chair of Economics and Dean, HKU Business School

4:50 p.m.

End of Conference

Remarks:
The programme rundown may change due to unforeseen circumstances, and HKU Business School reserves the right to make any changes without prior notice.

Language:
Simultaneous interpretation will be provided in English, Cantonese and Mandarin.