FT Chinese Column - HKU Business School

Beyond Tariffs: Rebalancing the U.S.-China Deficit through Strategic Capital Integration

The years-long US-China trade war has failed to shift the imbalanced macroeconomic structures of the two nations. Despite the continuous imposition of tariffs by the US since 2018, which escalated further in 2025, the US trade deficit in goods with China persists. The deficit stood at $295.5 billion in 2024 and approached $202.1 billion in 2025 (Source: US Census Bureau).

14 May 2026

HKD stablecoins boost mainland China’s cross-border finance

Prof. Xiang FANG Prof. Yang LIU Prof. Haonan ZHOU

In April 2026, the Hong Kong Monetary Authority (HKMA) issued stablecoin licenses to HSBC and AnchorX, signaling the imminent breakthrough of Hong Kong Dollar (HKD) stablecoin issuance. This represents a significant milestone, marking the official launch of stablecoins as a critical on-chain financial infrastructure in Hong Kong.

30 Apr 2026

When Hospitals Post Wait Times: Relieving Overcrowding or Making Things Worse?

Prof. Huiyin OUYANG

During the peak winter flu season, waiting times at Hong Kong’s public accident and emergency (A&E) departments frequently exceed four hours, with some districts even surpassing the eight-hour mark. In recent years, the Hospital Authority has aggressively promoted 'Smart Hospital' initiatives, pushing real-time waiting times for all 18 A&E departments directly to citizens' fingertips.

16 Apr 2026

AI Shopping Agents: Reshaping the Power Dynamics of Mobile Internet

Prof. Weiming ZHU

In late 2025, "AI shopping for you" began shifting from concept to reality. AI shopping agents started taking over tasks like searching, comparing prices, and completing purchases. As these agents render platforms invisible to end users, platforms risk losing brand value, user loyalty, and data control. A quiet battle is now underway for control of the consumer gateway.

3 Apr 2024

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

Dr. Yifei ZHANG

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.

27 Mar 2026

Global Growth: Stuck in Low Gear

Prof. Steven Alan BARNETT

Global growth is stuck in low gear. Just as a car stuck in low gear can only reach a fraction of its potential speed, the global economy is failing to find its former momentum.

16 Mar 2026

When Algorithms Become Consumers: How the AI Agent Economy Is Reshaping the Consumer Industry

Prof. Xi LI

Artificial intelligence is evolving from a “copilot” into an “intelligent agent,” and this leap will have an unprecedented impact on the marketing industry.In the past few years, we’ve witnessed how AI, as an efficiency tool, has optimized the marketing value chain: customer service bots have reduced operating costs, generative AI (AIGC) has enabled large‑scale content production, and machine learning has made consumer insights more precise.

27 Feb 2026

China’s Macroeconomic Shift: A Call for Firms to Go Global

Prof. Heiwai TANG

China’s economy is currently in a period of deep structural transformation. Despite the potential of its 1.4 billion-strong domestic market, the contraction of the wealth effect triggered by the real estate correction, together with a high household savings rate (exceeding 43% in 2024) and weak consumer confidence, is constraining the release of domestic demand.

6 Feb 2026

Hong Kong Economic Times (Chinese Only)

FT Chinese (Chinese Only)

When AI Hallucinates: The Hidden Risks in the Global Large-Model Race

Prof. Zhenhui Jack JIANG

Large language models are increasingly permeating core domains such as knowledge production, business analysis, legal consulting, and medical decision-making. A problem that was once often regarded as a mere technical flaw is rapidly becoming a new focal point in the global technology race: the “hallucination” of large language models—namely, the tendency of a model, when lacking any factual basis, to still produce highly “confident,” fluent, yet false answers.

22 Jan 2026

12 3…5

Our Authors

Prof. Haishi LI

Prof. Xiang FANG

Prof. Yang LIU

Prof. Haonan ZHOU

Prof. Huiyin OUYANG

Prof. Weiming ZHU

Dr. Yifei ZHANG

Prof. Steven Alan BARNETT

Prof. Xi LI

Prof. Heiwai TANG

Prof. Zhenhui Jack JIANG

Prof. Matthias FAHN

Prof. Jin LI

Prof. Haishi LI

Assistant Professor

FT Chinese Column

Beyond Tariffs: Rebalancing the U.S.-China Deficit through Strategic Capital Integration

14 May 2026

Prof. Xiang FANG

Assistant Professor

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Yang LIU

Associate Professor

Co-Director, HKUBS Wealth Management Academy

MWM Programme Director

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Haonan ZHOU

Assistant Professor

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Huiyin OUYANG

Associate Professor

FT Chinese Column

When Hospitals Post Wait Times: Relieving Overcrowding or Making Things Worse?

16 Apr 2026

Prof. Weiming ZHU

Associate Professor

Programme Director for the Open Programme of Executive Education

FT Chinese Column

AI Shopping Agents: Reshaping the Power Dynamics of Mobile Internet

3 Apr 2024

The Story of Hong Kong’s Ride-Hailing Services: Then and Now

2 Nov 2025

Dr. Yifei ZHANG

Senior Lecturer

BEcon/BEcon & Fin Deputy Programme Director and Admissions Tutor

FT Chinese Column

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

27 Mar 2026

Mainland E-commerce Reshapes Hong Kong’s Retail Market

22 Sep 2025

Prof. Steven Alan BARNETT

Professor of Practice

FT Chinese Column

Global Growth: Stuck in Low Gear

16 Mar 2026

Prof. Xi LI

Professor

Director, Asia Case Research Centre

Associate Director, Institute of Digital Economy and Innovation

FT Chinese Column

When Algorithms Become Consumers: How the AI Agent Economy Is Reshaping the Consumer Industry

27 Feb 2026

The Art of Pricing in the Digital Age

25 Jul 2025

Price Manipulation with Algorithms: Think Twice

3 Jul 2025

Prof. Heiwai TANG

Associate Vice-President (Global), The University of Hong Kong

Associate Dean (External Relations), HKU Business School

Victor and William Fung Professor in Economics

Director, Asia Global Institute

Director, APEC Study Center

Associate Director, Hong Kong Institute of Economics and Business Strategy

FT Chinese Column

China’s Macroeconomic Shift: A Call for Firms to Go Global

6 Feb 2026

Silver Lining of Trade War 2.0 for the Chinese Economy

1 May 2025

Prof. Zhenhui Jack JIANG

Professor of Innovation and Information Management

Padma and Hari Harilela Professor in Strategic Information Management

Director, AI Evaluation Lab

FT Chinese Column

When AI Hallucinates: The Hidden Risks in the Global Large-Model Race

22 Jan 2026

Multimodal AI: Image Generation Capabilities and Safety Challenges

20 Mar 2025

China-U.S. Competition in Large Language Models: Global Perspectives on Opportunities and Challenges

19 Sep 2024

Prof. Matthias FAHN

Associate Professor

FT Chinese Column

The Validation Tax: Shifting Focus from Production to Verification in the AI Era

8 Jan 2026

Prof. Jin LI

Area Head of Management and Strategy

Zhang Yonghong Professor in Economics and Strategy

Professor

Director of the Centre for AI, Management and Organization

FT Chinese Column

The Validation Tax: Shifting Focus from Production to Verification in the AI Era

8 Jan 2026

Super 80/20 Rule: Knowledge Creation in the AI Era

24 Feb 2025

Our Authors

Prof. Haishi LI

Prof. Xiang FANG

Prof. Yang LIU

Prof. Haonan ZHOU

Prof. Huiyin OUYANG

Prof. Weiming ZHU

Dr. Yifei ZHANG

Prof. Steven Alan BARNETT

Prof. Xi LI

Prof. Heiwai TANG

Prof. Zhenhui Jack JIANG

Prof. Matthias FAHN

Prof. Jin LI

Prof. Haishi LI

Assistant Professor

FT Chinese Column

Beyond Tariffs: Rebalancing the U.S.-China Deficit through Strategic Capital Integration

14 May 2026

Prof. Xiang FANG

Assistant Professor

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Yang LIU

Associate Professor

Co-Director, HKUBS Wealth Management Academy

MWM Programme Director

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Haonan ZHOU

Assistant Professor

FT Chinese Column

HKD stablecoins boost mainland China’s cross-border finance

30 Apr 2026

Offshore Renminbi-backed Stablecoins: Opportunities and Challenges

22 Aug 2025

Prof. Huiyin OUYANG

Associate Professor

FT Chinese Column

When Hospitals Post Wait Times: Relieving Overcrowding or Making Things Worse?

16 Apr 2026

Prof. Weiming ZHU

Associate Professor

Programme Director for the Open Programme of Executive Education

FT Chinese Column

AI Shopping Agents: Reshaping the Power Dynamics of Mobile Internet

3 Apr 2024

The Story of Hong Kong’s Ride-Hailing Services: Then and Now

2 Nov 2025

Dr. Yifei ZHANG

Senior Lecturer

BEcon/BEcon & Fin Deputy Programme Director and Admissions Tutor

FT Chinese Column

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

27 Mar 2026

Mainland E-commerce Reshapes Hong Kong’s Retail Market

22 Sep 2025

Prof. Steven Alan BARNETT

Professor of Practice

FT Chinese Column

Global Growth: Stuck in Low Gear

16 Mar 2026

Prof. Xi LI

Professor

Director, Asia Case Research Centre

Associate Director, Institute of Digital Economy and Innovation

FT Chinese Column

When Algorithms Become Consumers: How the AI Agent Economy Is Reshaping the Consumer Industry

27 Feb 2026

The Art of Pricing in the Digital Age

25 Jul 2025

Price Manipulation with Algorithms: Think Twice

3 Jul 2025

Prof. Heiwai TANG

Associate Vice-President (Global), The University of Hong Kong

Associate Dean (External Relations), HKU Business School

Victor and William Fung Professor in Economics

Director, Asia Global Institute

Director, APEC Study Center

Associate Director, Hong Kong Institute of Economics and Business Strategy

FT Chinese Column

China’s Macroeconomic Shift: A Call for Firms to Go Global

6 Feb 2026

Silver Lining of Trade War 2.0 for the Chinese Economy

1 May 2025

Prof. Zhenhui Jack JIANG

Professor of Innovation and Information Management

Padma and Hari Harilela Professor in Strategic Information Management

Director, AI Evaluation Lab

FT Chinese Column

When AI Hallucinates: The Hidden Risks in the Global Large-Model Race

22 Jan 2026

Multimodal AI: Image Generation Capabilities and Safety Challenges

20 Mar 2025

China-U.S. Competition in Large Language Models: Global Perspectives on Opportunities and Challenges

19 Sep 2024

Prof. Matthias FAHN

Associate Professor

FT Chinese Column

The Validation Tax: Shifting Focus from Production to Verification in the AI Era

8 Jan 2026

Prof. Jin LI

Area Head of Management and Strategy

Zhang Yonghong Professor in Economics and Strategy

Professor

Director of the Centre for AI, Management and Organization

FT Chinese Column

The Validation Tax: Shifting Focus from Production to Verification in the AI Era

8 Jan 2026

Super 80/20 Rule: Knowledge Creation in the AI Era

24 Feb 2025