Asia Global Institute

[南北向交投創新高 駐港內企增20%] 香港作為連接內地與國際市場的「超級聯繫人」，在大灣區金融發展中扮演著關鍵角色。 港大經管學院副院長及亞洲環球研究所總監鄧希煒教授指出近年不少內地企業因應內地經濟轉型及增長放緩，欲透過香港集資及「出海」。他強調：「內地企業有雙總部概念，研發製造總部多於大灣區的深圳，對外貿易及集資業務設在香港，正是看中本港金融市場擁有全球視野，有助拓展業務。」 展望未來，鄧教授建議：「香港應吸納更多新興市場，或中東及東盟國家企業來港上市。」他補充道：「新股來港上市可帶動『路演』等商業活動、律師及核數師等專業服務，並連帶酒店及餐飲業務受惠。」 香港應繼續發揮其獨特優勢，推動大灣區金融發展，並鞏固自身作為全球金融中心的地位。 詳情請參閱全文文章：https://bit.ly/4jc0UXd Northbound and Southbound Trading hit a record high, with Mainland companies in Hong Kong increasing by 20% YOY. As the "super connector" linking mainland China and international markets, Hong Kong plays a key role in the financial development of the Greater Bay Area. Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of the Asia Global Institute, pointed out that many mainland enterprises have sought to raise funds and "go overseas" through Hong Kong in response to the mainland's economic transformation and recent growth slowdown. He emphasised, "Mainland companies adopt a dual-headquarters concept, with many R&D and manufacturing headquarters in the Greater Bay Area, and their foreign trade and fundraising operations based in Hong Kong. This is because Hong Kong's international financial market can facilitate their business expansion." Looking ahead, Prof. Tang suggested, "Hong Kong should attract more companies from emerging markets, the Middle East, and ASEAN countries to list here." He added, “The listing of new stocks in Hong Kong can stimulate various business activities, including promotional events aimed at institutional investors, and benefit professional services such as lawyers and auditors, as well as the hotel and catering industries.” Details: https://bit.ly/4jc0UXd #HKUBusinessSchool #HongKongFinance #GreaterBayArea #SuperConnector #InternationalFinancialCenter #OffshoreRMB #CapitalFlow #IPO #港大經管學院 #香港金融 #大灣區發展 #超級聯繫人 #國際金融中心 #離岸人民幣 #資金流動 Asia Global Institute SING TAO NEWS CORPORATION LIMITED 星島新聞集團

Recent statistics show that the number of non-local companies stationed in Hong Kong has reached a record high of 9,960, with the majority of the increase contributed by mainland Chinese companies. Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of the Asia Global Institute, pointed out that geopolitical factors and excessive competition in the Mainland's local market have led many sizable Mainland companies to "go overseas" for market expansion, such as Midea and SF Express. The number of regional headquarters of European and American companies has also increased. Prof. Tang analysed that many foreign companies moved out of Hong Kong during the epidemic. However, since many companies still have key business in China, the situation in Hong Kong has been stabilizing, the HK government has taken initiatives to attract foreign investment, and at the same time, the operating costs in places like Singapore are rising. These multiple factors have led to a rebound in the number of foreign companies in Hong Kong. For more insights, check out Prof. Tang’s interview in HKEJ: https://bit.ly/49RWcJJ Photo: HKEJ 根據政府統計數字，境外公司駐港數目創新高，達9,960間，當中主要增幅來自中國內地企業。 港大經管學院副院長及亞洲環球研究所總監鄧希煒教授對此表示，由於地緣政治因素，加上內地本土市場過度競爭，不少當地龍頭企業希望「出海」開拓市場，例如在內地上市多年的美的集團及順豐，擇此時機在港掛牌上巿，希望作全球部署。   對於多個歐美企業地區總部數量亦按年上升，鄧教授分析指疫情時不少外企遷離香港，轉投新加坡、杜拜等地，但由於部分公司仍有主要業務在中國，加上香港情況回穩，港府主動招商引資，另一方面新加坡目前的營運成本上升，多重因素均令外國公司在港數目回升。 詳情請參閱鄧教授於《信報》的專訪文章：https://bit.ly/49RWcJJ 圖：信報 Asia Global Institute Hong Kong Economic Journal #港大經管學院 #investhk #總部經濟 #企業出海 #外資 #地緣政治 #稅務優惠 #人才政策 #HKUBusinessSchool #investhk #HeadquarterEconomy #GoingGlobal #ForeignInvestment #Geopolitics #TaxIncentives #TalentPolicy

Mike Spence, Chairman of the AGI Advisory Board, asserts in Project Syndicate that a "trust deficit" is fueling negative perceptions of the US economy. While official data often paints a rosy picture, many Americans experience a different reality. Spence points to soaring wealth inequality, where the bottom 50% of households hold a tiny fraction of total wealth, leaving them vulnerable and distrustful of optimistic narratives. This distrust, coupled with declining faith in traditional media and government, creates an opening for misinformation and polarization, particularly on social media. Overcoming this divide and reestablishing a mutual understanding of the economic landscape is imperative, yet it is met with substantial obstacles in the current societal climate. Find out more via https://lnkd.in/gEczBgsw

Hong Kong's Economic Challenges and Path Forward   Hong Kong's economy is facing a series of significant challenges, including an ongoing fiscal deficit, not being able to fully leverage the composite advantages of the Greater Bay Area, a shrinking middle class, and a drain of international talent.   In view of these complex challenges, Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of the Asia Global Institute, and Mr. Cyrus Cheung propose 4 key policy recommendations:   1️⃣ Broaden the tax base to generate new revenue 2️⃣ Boost infrastructure development through public-private collaborations 3️⃣ Leverage HK’s unique advantages to integrate with the GBA 4️⃣ Actively attract talent and foreign investment   For more details, visit: https://bit.ly/49L17vP (Chinese Only) Watch the video: https://lnkd.in/gXd-WxsG   香港經濟未解的「老大難」與出路   香港經濟近幾年面對種種挑戰：   1️⃣政府財政赤字問題持續 2023/24年度更錄得1,002億元的赤字   2️⃣未能充分發揮粵港澳大灣區融合發展帶來的經濟效益 近年港人北上消費成風，但南下旅客消費意欲普遍較弱。   3️⃣中產階層逐漸萎縮、國際人才流失 香港經濟結構單一，當金融、房地產及專業服務業遭遇逆風，問題便馬上浮現。   要破解這些「老大難」並非易事，港大經管學院副院長及亞洲環球研究所總監鄧希煒教授及張超藝先生提出四大政策建議，以收拋磚引玉之效：   1️⃣闢財源擴闊稅基 2️⃣謀發展推公私營協作 3️⃣藉獨特優勢融入大灣區 4️⃣積極搶人才兼吸引外資   詳情請查看：https://bit.ly/4flxiU5 觀看影片：https://lnkd.in/gXd-WxsG   Asia Global Institute Hong Kong Economic Journal   #HKUBusinessSchool #HKEJ #HongKongEconomy #GreaterBayArea #港大經管學院 #龍虎山下專欄 #香港經濟 #大灣區

Congratulations to our AsiaGlobal Fellow, Bradley Hiller, who played a significant role in the efforts to help address global land degradation, desertification, and build drought resilience at the recent #COP16Riyadh event. Check out the highlights video to see how they are driving impactful change for a greener future for all: https://lnkd.in/gaVWhce7

Congratulations to our #AsiaGlobalFellow Mher D. Sahakyan on publishing his latest article! The genesis of this research initially took place during his tenure as AsiaGlobal Fellow here in Hong Kong. Check out his article here: https://lnkd.in/gren6hrY 

Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of the Asia Global Institute shared in an interview with the TVB Pearl programme that the trade war has deteriorated with decoupling notably underway in the technology sector like semiconductors, AI and robotics. However, he believes that Hong Kong can still capitalise the opportunities ahead, positioning the city as a centre for supply chain management and professional services such as financial services and tax advisory consulting. Watch the video: https://bit.ly/4gclEeS (starting at 00:10:02) #HKUBusinessSchool #GlobalEconomy #TradeWar #HongKongEconomy #SupplyChainManagement #ProfessionalServices

In the opening keynote of the #AGD2024, Victor Fung, Chairman of the Asia Global Institute, highlighted the ongoing geopolitical and economic turmoil, particularly the strained relations between the US and China and their impact on #globaltrade. He expressed confidence that these tensions are likely to persist for the next five years, creating a challenging environment for global businesses. Despite these challenges, Fung maintained optimistic, identifying emerging economies as key influencers in shaping the future of global trade. He noted the shifting economic focus towards Asia, while acknowledging that the US and European markets are expected to remain dominant in global demand for the next 5 to 10 years, accounting for nearly half of the world's consumption. Check https://lnkd.in/gUVWvUwP for the full video.

#HongKong SAR, China’s global connectivity, rich trading history, and deep experience in supply-chain management, finance, corporate best practice, and skills upgrading puts it in a unique position to help prepare #SMEs in Asia Pacific’s supply chains for the new, more demanding era of global trade. Following on from IFC - International Finance Corporation’s new partnership with Li & Fung, one of the world’s largest consumer product sourcing and distribution companies, IFC Regional Vice President for Asia Pacific, Riccardo Puliti, joined Dr. Victor Fung for an exclusive fireside chat. Watch the conversation in full to learn more: https://lnkd.in/eFGKmmX7 Learn more about IFC’s new partnership with Li & Fung: http://wrld.bg/loWg50UfG4p Kim-See Lim Anna Ng Carsten Mueller Edward Keung Sean (Chanho) Ahn Fung Group Air8 Finance Hong Kong Monetary Authority (HKMA) LFX Digital

Trump’s Return: Shifting US-China Relations and Hong Kong’s Strategy With Donald Trump returning to the White House, US-China relations are set to grow more tense. Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of the Asia Global Institute, noted in a HKEJ interview that Trump’s hawkish cabinet may escalate pressure on China in trade, technology, and geopolitics. China must strengthen alliances and boost domestic demand, while Hong Kong needs to uphold its role as a “bridge between East and West.” A Global Shift: “One Globe, Two Systems” Prof. Tang highlighted that the world is entering the “One Globe, Two Systems” era, where the US-led technological ecosystem competes with China’s independent system. Trump’s policies may accelerate decoupling in AI and semiconductors. China must bolster self-reliance, restructure supply chains, and deepen ties with Europe and ASEAN, while Trump’s isolationist stance may weaken US alliances, offering China new opportunities. Strengthening Hong Kong’s Role in ASEAN and Middle East Amid US-China tensions, Hong Kong may face stricter sanctions on high-tech sectors. However, financial sanctions are unlikely as they could hurt US dollar dominance. Prof. Tang emphasized that Hong Kong must stabilize its financial markets and leverage China’s recovery to manage risks. At the same time, Hong Kong is tapping into ASEAN and Middle Eastern markets, positioning itself as a hub for “new globalization.” By sharing a strong “Hong Kong story,” the city can enhance its global image and solidify its role as a financial center. 中美關係的變局與香港應對之策 隨着特朗普確定重返白宮，中美關係將進一步緊張。港大經管學院副院長及亞洲環球研究所總監鄧希煒教授在接受《信報財經》訪問時指出，特朗普新內閣的鷹派基調可能加強對中國在貿易、科技及地緣政治方面的打壓。在全球博弈中，中國需拉攏盟友與深化內需，而香港需穩固其「中西橋樑」的角色。 全球正式進入「一球兩制」時代 鄧教授指出，全球科技格局已進入「一球兩制」時代，即美國主導的技術生態與中國的獨立體系分庭抗禮。特朗普的政策或加速科技脫鉤，尤其是在人工智能與半導體領域。中國需加強科技自立、重構產業鏈，深化與歐洲及東盟的合作，同時特朗普的孤立主義或削弱美國盟友的團結，為中國提供合作契機。 香港需積極開拓東盟與中東新機遇 在中美對抗升級下，香港可能面臨高科技與實體經濟的制裁，但對金融體系的打擊可能性較低，因為這將損害美元霸權及美國利益。鄧教授表示，香港需穩固金融市場，並寄望中國經濟回暖以降低風險。同時，香港正積極開拓東盟與中東市場，重新定位為「新全球化」的交流中心，並通過講好「香港故事」，鞏固其國際金融中心地位。 🔗 觀看採訪： 👉 https://bit.ly/4fDNYqO Hong Kong Economic Journal   #HKUBusinessSchool #HKEJ #GlobalEconomy #USChinaRelations #TechDecoupling #ASEANMarkets #Globalization2 #港大經管學院 #信報 #信報財經新聞 #中美關係 #特朗普政策 #香港金融市場 #雙循環經濟 #東盟合作