媒体报导

香港新冠疫情平稳后，笔者近日前往美国，走访多间著名大学。虽然美国疫情之后麻烦不断，通胀顽固不退，矽谷银行的挤提，更添经济衰退隐忧，加上政党激烈对立等等，但其无比雄厚的研究实力，领先全球的创新能力，依然坚固且不断加强。

证券型代币发行（Security Token Offering；简称STO）指在符合证券市场的监管要求下，利用日新月异的区块链技术，将股票、房地产、古董等有形和无形资产代币化的一种企业融资途径。证券型代币的底层技术是区块链，以此进行的每项交易都属匿名，并公开记账，所用代币标志对有关资产或证券的拥有权。所有STO交易都会储存于数码交易分类账中，以免资料遭任意篡改，既高度透明，也高度安全。

China has encountered its share of financial distress during its decades-long transition to a modern industrial economy, but regulators have used their considerable powers to repeatedly prevent catastrophe.

3月10日，作为美国在创科领域最重要的银行，矽谷银行在48小时内突然宣布破产，无疑是近年来震撼全球的金融事件。虽然因为美国联邦再保险公司快速介入和美国政府托底，避免了危机向其他金融机构和实体经济大规模蔓延，但已反映出联邦储备局（联储局）自2022年以来多轮加息对金融和经济带来的巨大冲击。

Chinese companies that did business with SVB in the U.S. also have plenty of options as they join the rush to find a new bank. But SVB’s collapse may make firms think twice before relying on smaller, regional banks. “There is a shift going on,” says Zhiwu Chen, a finance professor at the University of Hong Kong. “Everyone I know has been moving money from small banks into big ones.” Chen says that some of the companies he advises are concerned about this transition, fearing that they may not get the sort of specialized or preferential service from large banks that they enjoyed with SVB.

"Confidence has been very much shattered," said Zhiwu Chen, a professor and chair of finance at the University of Hong Kong's business school. "The government's desire to have private equity and venture capital invest more is very much undermined," he added.

But other voices believe the cards are stacked against Hong Kong’s long-term revival and continued prosperity.“The Hong Kong government people try pretty hard, but they are going against headwinds,” says Zhiwu Chen,professor of finance and director of the Institute for Humanities and Social Sciences at the University of HongKong. “Recent changes have made it tough for mainland billionaires to set up their family offices in Hong Kong,”now under the ultimate jurisdiction of the Beijing authorities. “For that reason alone, Singapore has becomethe favourite destination for mainland billionaires.”

从新闻媒体到社交平台，从科技达人到在校学生，铺天盖地的话题都聚焦于ChatGPT。激动之余，大家不禁开始担忧，机器都能聊天了，还要人来做什么？ ChatGPT可以编写程式，科技部门是不是要解散？ ChatGPT可以写文章，作家、编辑会否饭碗不保？ ChatGPT看来无所不晓，那么孩子还须上学么？

Since CSRC and CBIRC had been categorised differently from government organizations in the past, the regulators had more discretion in setting salaries and employees typically received higher pay than public servants, said Zhiwu Chen, a professor of finance at the University of Hong Kong Business School. “With this new definition for their positions, some of them may have to accept a pay cut of 50% or more. They will not be happy,” he said.