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Dr. Yifei Zhang is a senior lecturer at the HKU Business School. Prior to joining the University of Hong Kong, he taught at the Hong Kong Polytechnic University and Beijing Normal University-Hong Kong Baptist University United International College.
Dr. Zhang’s research interests include Chinese Economy, Development Economics, and Political Economy. Upon graduation, he did Ph.D. internship at the Hong Kong Institute for Monetary Research (HKIMR) and worked at the Chinese University of Hong Kong as a postdoctoral fellow. His works appear in peer-reviewed journals such as Journal of Comparative Economics, Economics Letters, Small Business Economics, China Economic Review, etc.
Dr. Zhang has experience teaching various economics courses, such as Chinese Economy, Econometrics, Game Theory, etc. He also has a passion for supervising and collaborating with his students. The co-authored works have been published in academic journals such as: Journal of Comparative Economics, Economics Letters, Small Business Economics, Applied Economics, International Review of Economics & Finance, and International Studies of Economics.
Selected Working Papers
Journal Articles
Book Chapters
Building massive projects such as Belt and Road Initiatives and the Northern Metropolis requires billions of dollars that can get tied up for decades. In a recent interview with China Daily, Dr. Yifei Zhang from HKU Business School shared that most Asian infrastructure financing faces illiquid project risks.
Around 70% of offshore bond issuance by Chinese Mainland enterprises takes place in Hong Kong. With the People’s Bank of China lifting the annual net investment quota for Southbound Bond Connect from RMB500 billion to RMB800 billion, Dr. Yifei Zhang of HKU Business School tells Xinhuanet that the previous quota had long been tight — and the increase is a timely response to market demand.
In an interview with China Daily, Dr. Yifei Zhang of the HKU Business School said some permitted restaurants have benefited noticeably, with some reporting a 20–25% rise in business. He estimated the scheme brings in HK$500 million to HK$1 billion in extra annual revenue, despite covering only about 5–6% of Hong Kong’s licensed restaurants.
Hongkong Post has been loss-making for eight years and Dr. Yifei Zhang from HKU Business School says the real challenge is defining its role. Should it operate as a government department, a self-financing public body, or a public-private hybrid?
In an interview with Ta Kung Pao, Dr. Yifei Zhang, Senior Lecturer of Economics at HKU Business School, observed that when "I miss my father" becomes "what should I buy," the market reduces a priceless gesture of affection into something comparable, conspicuous, and delegable. He suggests setting a monetary budget cap on celebrations and redirecting attention to a "time budget" instead.
Dr. Yifei Zhang of HKU Business School explained to BBC Chinese that land finance is a one-off transaction— every sale permanently depletes the land available. Equity finance, in contrast, is a revolving model: it can yield returns, be reinvested, and mobilise private capital to foster industries and share the risks of research and development.
Whenever monumental news breaks, I tend to use this column to examine a basic principle. SpaceX’s current bid to come to market in what could be the largest initial public offering (IPO) in history undoubtedly highlights an enduring tug of war in the world of valuation: narrative vs numbers.
On 20 February 2026, the US Supreme Court, in a 6–3 decision, issued a landmark ruling in Learning Resources, Inc. v. Trump: The President is not authorized under the International Emergency Economic Powers Act (IEEPA) to unilaterally impose tariffs.
2025 has been dubbed the "Year of the AI Agent" by the industry. AI is evolving from a mere supportive tool into an autonomous "Virtual Partner." Tasks that previously required team collaboration—such as coding, design, and copywriting—can now be orchestrated and completed by a founder through a suite of AI Agents.
As Middle East tensions push oil prices to their highest since 2022, Dr. Yifei Zhang, Senior Lecturer in Economics at HKU Business School, identified three concerns for the local economy in an interview with Ta Kung Pao.
