In the Media

為促進香港經濟增長，政府實行了大規模的研發補貼，旨在創造新產業和刺激新的經濟增長。政府還積極放寬移民限制，希望吸引年輕人才。 可惜，這些政策的作用很有限。過去10年，儘管特區政府在創新補貼上花費了巨額資金，但本港的機械、設備和知識產權實際投資，從2012年的2780億元（佔GDP的13.7%），下降到2023年的1730億元（佔GDP的5.8%）。儘管移民限制得到放寬，本港勞動人口在2023年5月至2024年5月期間，僅增長了0.4%。

Chinese authorities are chasing unpaid taxes from companies and individuals dating back decades, as the government moves to plug massive budget shortfalls and address a mounting debt crisis. “When business owners are feeling insecure, how can there be more private investment growth in China?” said Chen Zhiwu, a finance professor at the University of Hong Kong’s business school. “An economic slowdown is inevitable.”

China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property giant. “A collapse as large as China Evergrande severely undermines investors’ confidence in the system, and the only way to restore it is to have a transparent autopsy,” said Pingyang Gao, an accounting and law professor at the HKU Business School. He added that the liquidators’ legal actions and court proceedings will help with that process.

Extreme weather incidents are becoming more frequent, bringing unprecedented challenges to various industries. In addition to the increasing costs of equipment maintenance and emergency measures, the enterprises’ production plans may be affected by equipment damages and supply chain interruptions. Investors are also concerned about the impact of extreme weather on businesses, resulting in fluctuations in stock prices and increased financing costs.

香港大學經管學院中國經濟研究所（ICE）聯同中國人民大學中國宏觀經濟論壇（CMF）7月20日舉辦了「2024年中國與全球經濟論壇」，邀請了多位重量級經濟學者和工商界領袖，聯袂分析中國經濟未來發展方向和應對潛在挑戰的解決方案。 吳曉求教授指出，對中國來說外部需求特別重要。「千萬不要認為中國經濟規模擴大後，靠自己消費就能完成過剩供給能力的平衡」。他強調，中國是投資推動經濟成長佔比非常重要的國家，所以需要外部平衡強大的供給能力。

In this latest interview in the Open Questions series, Prof. Mao analyses China’s struggling property sector, reflects on US-China tensions, surveys the results of the highly anticipated third plenum and examines the changing nature of Hong Kong’s role in the broader economy.

Traditional public procurement policies mainly consider cost, quality, and user needs. In order to effectively support sustainable development and promote environmental protection in the public sector, the concept of "sustainable public procurement" has gradually become mainstream internationally. This concept emphasizes a balance of environmental, social, and economic benefits, and aims to promote sustainable development through government procurement activities.

2024大湾区首席经济学家论坛于7月27日在深圳举办，主题为“经济提质增效与大湾区发展新前景”。港大经管学院教授、中诚信国际首席经济学家毛振华出席并演讲。 毛振华谈到，现在跟老百姓有关的就是资产价格下行，资产价格下行如果不扭转过来，对居民的资产负债表不能做改善，整个消费和经济的运行都会有问题。他表示，最大的问题是房价，因为中国差不多90%的户籍人口都有自己的住房，房价下降过快，或者说房价下行的趋势还没有完全扭转，是当前经济工作的重中之重。

The 20th Central Committee of the Communist Party of China adopted a resolution on further deepening reform comprehensively to advance Chinese modernization at its third plenary session. In an interview with Southern Finance 南方财经全媒体, Prof. Heiwai Tang, Associate Dean of HKU Business School and Director of Asia Global Institute, believes that the resolution charted a clear course for Hong Kong's development.