Yifei ZHANG
Dr. Yifei ZHANG
Economics
Senior Lecturer
BEcon/BEcon & Fin Deputy Programme Director and Admissions Tutor

3910 3102

KK 1332

Publications
When Tariff Barriers Land in Court—a US$100-Billion Lesson in Constitutional Law

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.

The One-Person Company in the Age of AI: Opportunity, Commoditisation, and the Moat

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.

Strongest Backup: Mainland Ensures Stable Fuel Supply to Hong Kong

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.

A Way out for Hong Kong’s Middle Class Facing the Kill Line

From where I sit in the office at the foot of Lung Fu Shan, the view outside the window is the lush greenery of Pok Fu Lam while the scintillating waters of Victoria Harbour in the distance can barely be made out.

A Potent Economic Solution to the Crisis of Prowling Bears

From major media reports and widely shared posts on social platforms, it is evident that Japan has recently been plagued by unprecedented intrusion from bears on the prowl. Brown bears and Asian black bears have been breaking into densely populated areas at a record-high frequency, even venturing into airport aprons, forcing temporary closures of airports. As of the end of October, more than 170 people have been attacked by bears, resulting in a dozen dead.

Mainland E-commerce Reshapes Hong Kong’s Retail Market

Hong Kong was once famed worldwide as a “Shopping Paradise,” with retail serving as a key pillar of its economy. From cutting-edge electronics to international luxury goods, the city attracted consumers from around the globe on the strength of its reputation for quality and exchange-rate advantages. Today, the rise of mainland E-Commerce platforms is profoundly reshaping Hong Kong’s commercial ecosystem.

Bottled Water Controversy and the Credence-Goods Dilemma

The recent controversy involving the awarding of a contract to provide bottled drinking water to the SAR Government offices has quickly snowballed. What began as misgivings among civil servants has escalated to a major social incident, casting doubt on the use of public funds, procurement, the regulatory system, and even the Government’s credibility.

Stablecoins: Anchoring Trust in the Digital Ocean

Amid the vicissitudes of global financial markets in recent years, Bitcoin, with its roller-coaster-like price fluctuations, has been keenly pursued by investors seeking high returns. However, in the vast digital ocean, most companies and investors are in search of a safe haven for their investments rather than the excitement of risk-taking.

The U.S. Debt Storm and the Reshuffling of Global Finance

In April 2025, global financial markets experienced an unprecedented credit crisis, with the yield on the 10-year U.S. Treasury skyrocketing to 4.5%, marking the largest weekly increase since 2001. What are the reasons behind this crisis? Is the tariff policy of the Trump administration a catalyst for market turmoil? Will the U.S. Treasury market successfully navigate through this crisis?