In the Media

Household spending is a key factor in personal and family financial planning, as well as policymaking to improve people's livelihoods. While the government's Consumer Price Index (CPI) is a mainstream indicator, it often fails to accurately reflect the daily living costs of the public. CPI has limitations, such as over-emphasising non-essential goods and services (e.g. Rental expenses and furniture), and people's subjective inflation perceptions tend to be higher than the actual data.

While Africa is gaining a voice globally, with the African Union joining the G20, its economic progress lags behind. Africa's per capita income declined from 30% of the global average in 1990 to only 21% in 2023, with low participation in international trade beyond exporting raw materials.

The academic community positively impacts ESG development by integrating government, business, and academia, sharing results with both sectors. Professor He Guojun from HHKU Jockey Club Enterprise Sustainability Global Research Institute suggests that the government can propose needs or build platforms, allowing academia to provide targeted research and solutions. Additionally, the government should offer funding and simplify administration to help transform and commercialize research outcomes, aiding companies in market competition.

We are delighted to announce that four distinguished scholars from HKU Business School have been awarded prestigious NSFC grants this year, including the National Science Fund for Distinguished Young Scholars, the Excellent Young Scientists Fund, and the Young Scientists Fund Program. This resounding recognition is a testament to the exceptional research capability and rigorous academic standards upheld by HKU Business School.

The World Economic Forum has identified misinformation and disinformation as the most significant short-term risks faced by the global community. Another research report suggests that the financial impact of fake news results in a $39 billion loss in the stock market annually.

In recent years, companies across various industries in Hong Kong, particularly SME, have been cautious about the local business environment and export outlook. Geopolitical factors have led to significant challenges in the business landscape, changes in Mainland Chinese tourists' spending patterns, and intensifying competition from surrounding regions.

Professor Heiwai Tang was recently interviewed by RTHK on the development of the semiconductor industry in Hong Kong. He mentioned that the development of the semiconductor sector could drive growth in both the upstream and downstream industries.

截至7月底，国内共推出超300个大模型。经过大模型数量之争的上半场，下半场中国大模型该如何押宝？“持续稳定的政策支持、庞大的算力规模和广阔的应用场景是中国独特的竞争优势和巨大的发展潜力。”蒋镇辉教授认为，大模型将从数量到更重视应用端发展。

With the rapidly changing economic structure nowadays, investing in higher education is no longer a guaranteed way to achieve high returns. This raises the question: is it still worth attending university? Due to the on-going economic restructuring in China, university graduates not only face difficulty in finding jobs, but a more unusual phenomenon is that the graduates with higher education qualifications encounter even more difficulties in securing employment. The author opined that it is because the education industry has expanded excessively in the past 20 years, coupled with uneven economic development and reduced social mobility, which has diminished educational returns. The widespread use of artificial intelligence technology brings greater uncertainty to future educational returns.