Heiwai TANG
Prof. Heiwai TANG
经济学
Associate Vice-President (Global)
Associate Dean (External Relations)
Victor and William Fung Professor in Economics (冯国经冯国纶基金教授 (经济学))
Director, Asia Global Institute
Director, APEC Study Centerand Business Strategy
Associate Director, Hong Kong Institute of Economics

3917 0029
3917 4388

MB 335/ KK 920

Academic & Professional Qualification
  • PhD: MIT
  • Bachelor: UCLA
Biography

Prof. Heiwai Tang is the Victor and William Fung Professor in Economics at the University of Hong Kong (HKU), where he also serves as Director of the Asia Global Institute, Associate Vice President (Global) of the university, and Associate Dean for External Relations at the Business School. Before joining HKU, he was a tenured Associate Professor of International Economics at the School of Advanced International Studies (SAIS) of Johns Hopkins University.

He is affiliated with the Center of Economic Studies and Ifo Institute (CESifo) in Germany, the Asian Bureau of Finance and Economic Research (ABFER) in Singapore, the Kiel Institute for the World Economy in Germany, and the Globalization and Economic Policy (GEP) Center in the U.K. as a research fellow. He has consulted for organizations such as the World Bank, the International Finance Corporation, the United Nations, and the Asian Development Bank. He has also held visiting positions at the International Monetary Fund (IMF), Stanford University, the Massachusetts Institute of Technology (MIT), and Harvard University.

He has previously served as the Managing Editor of the Pacific Economic Review, and as an Associate Editor for the Journal of International Economics, the Journal of Comparative Economics, and the China Economic Review. Since 2021, he has been involved with several public and regulatory bodies in Hong Kong SAR, including the Currency Board Sub-Committee of the Hong Kong Monetary Authority’s Exchange Fund Advisory Committee, the Industry Advisory Committee of the Insurance Authority, the Securities and Futures Appeals Tribunal, the Land and Development Advisory Committee, and the Minimum Wage Commission, among others.

Heiwai holds a Ph.D. in economics from MIT and a Bachelor of Science in mathematics from UCLA. His research interests span a wide range of theoretical and empirical topics in international trade, with a specific focus on production networks, global value chains, and China. His research has been published in leading economics journals, including the American Economic Review and the Journal of International Economics. His research and opinions have been featured in the BBC, Bloomberg, China Daily, CNA, CNN, Financial Times, New York Times, Al Jazeera, Foreign Policy, South China Morning Post, and various think tanks, including the Brookings Institution and the Peterson Institute for International Economics.

Teaching

Columbia-LBS-HKU EMBA: The New World Order

HKU-PKU DBA: Frontiers in Economics Research

Fudan-HKU IMBA: The New World Order

HKU: Undergraduate Common Core – China in the Global Economy; MBA – Global Economy; Master of Economics – Economic Policy

Research Interest

International Trade, Global Value Chains, Development Economics

Selected Publications
  • Towards the Future of BRICS+, Eds (with Brian YS Wong), HKU Press, August 2025

  • “Trade Networks and Firm Value: Evidence from the US-China Trade War,” Journal of International Economics, forthcoming. (with Yi Huang, Chen Lin, and Sibo Liu)
  • “Currency Carry Trade by Trucks: The Curious Case of China’s Massive Imports from Itself”, Review of Finance, 27(2), March 2023, pp. 469–493. (with Xuepeng Liu, Zhi Wang, and Shang-Jin Wei)
  • “Do Multinationals Transfer Culture? Evidence on Female Employment in China”, Journal of International Economics, 133, Nov 2021, 103518. (with Yifan Zhang)
  • “Domestic Segment of Global Value Chains in China under State Capitalism”, Journal of Comparative Economics, 48(4), Dec 2020, pp. 797-821. (with Fei Wang and Zhi Wang)
  • “Why is China Investing in Africa? Evidence from the Firm Level”, World Bank Economic Review, 32(3), Oct 2018, pp. 610-632. (with Wenjie Chen and David Dollar)
  • “Are Foreign Firms Favored in China? Firm-level Evidence on the Collection of Value-Added Tax”, Journal of International Business Policy, 1(2), Inaugural Issue, Jun 2018, pp. 71-91. (with Yasheng Huang)
  • “Domestic Value Added in Exports: Theory and Firm Evidence from China”, American Economic Review, 106(6), Jun 2016, pp. 1402-1436. (with Hiau Looi Kee)
  • “Learning to Export from Neighbors”, Journal of International Economics, 94(1), Sep 2014, pp. 67-84. (with Ana Fernandes)
  • “Factor Intensity, Product Switching, and Productivity: Evidence from Chinese Exporters”, Journal of International Economics, 92(2), Mar 2014, pp. 349-362. (with Yue Ma and Yifan Zhang)
  • “International Politics and Import Diversification”, Journal of Law and Economics, 56(4), Nov 2013, pp. 1091-1121. (with Sergey Mityakov and Kevin Tsui)
  • “Determinants of Vertical Integration in Export Processing: Theory and Evidence from China”, Journal of Development Economics, 99(2), Nov 2012, pp. 396-414. (with Ana Fernandes)
  • “Labor Market Institutions, Firm-specific Skills, and Trade Patterns”, Journal of International Economics, 87(2), Jul 2012, pp. 337-351.
Awards and Honours
  • MAS Term Professor in Economics and Finance, 2024
  • APEC Study Center Financial Support from the HKSAR Government, PI, HKD 2,500,000, 2022-2027
  • HKU Knowledge Exchange Grant, PI, HKD 497,000, 2023
  • Hong Kong RGC Grant, Co-PI, HKD 418,975, 2022-2024
  • Committee of 100 Next Generation Leader, 2018
  • Richard Paul Richman Center for Business, Law, and Public Policy Grant, Columbia University, Co-PI, USD 14,500.
  • Social Sciences and Humanities Research Council (SSHRC) of Canada Insight Grant, Co-Investigator, CAD 78,736
  • Student-Elected Best Professor of the Master of International Econ and Finance Program, JHU SAIS, 2016-2017
  • Alcoa Foundation Grant, Co-PI, USD 500,000, 2016-2019
  • Hong Kong RGC Grant, Co-PI, HKD 364,378, 2017-2019
  • Outstanding Referee Journal of International Economics, 2014-2017.
  • Hong Kong RGC Grant, Co-PI, HKD 336,462, 2011-2013
  • The Nuffield Foundation Social Science Grant, SGS/36581, Co-PI, £12,000, 2009-2011
  • MIT Presidential Fellowship, 2002-2003
Service to the University/Community
  • Member, Process Review Panel for the Mandatory Provident Fund Schemes Authority, HKSAR, 2025 –
  • Member, Land and Development Advisory Committee, HKSAR, 2024 –
  • Member, Council of Advisers for Monetary Research, HKIMR, 2024 –
  • Member, Project Lift, Hong Kong Jockey Club, 2024 –
  • Securities and Futures Appeals Tribunal of the HKSAR government, member, 2023 –
  • Panel of Arbitrators of the Labour Relations Ordinance, HKSAR, member, 2023 –
  • Insurance Authority in Hong Kong SAR, Member of the Industry Advisory Committee, 2022 –
  • Telecommunications Appeal Board of the HKSAR Government, Member, 2022 –
  • Currency Board Sub-Committee of the HKMA Exchange Fund Advisory Committee, Member, 2021-
  • Minimum Wage Commission in Hong Kong SAR, Member, 2021 –
  • Pacific Economic Review, Managing Editor, 2022 –
  • Journal of International Economics, Associate Editor, 2019 – 2022
  • China Economic Review, Associate Editor, 2018 –
  • Journal of Comparative Economics, Associate Editor, 2017 – 2023
  • China Economics Summer Institute, Academic Committee Member, 2017 –
  • International Finance Corporation (IFC), Consultant, 2017 –
  • United Nations Industrial Development Organization, Consultant, 2016 – 2017
  • Asian Development Bank, Consultant, 2016 – 2017
  • IMF, Research Department, Visiting Scholar, 2015 – 2016
  • World Bank, Consultant, 2013 – 2017
Policy Research Reports
  • Jul 2025: Made by Hong Kong: Strategies for New Industrialisation
  • Jan 2024: Hong Kong AI Industry Development Study
  • Jul 2023: IP Commercialization: A Boost for Hong Kong Re-Industrialization Strategy
  • Jan 2022: Reindustrialization Study – Hong Kong
Recent Publications
建设区域IP贸易中心   推动中国IP国际化

两年前,笔者于本栏撰写〈知识产权商业化 有利经济高质量发展〉一文,并与香港青年工业家协会发表《知识产权商品化:策动香港再工业化发展》研究报告,提出包括“鼓励以无形资产作融资抵押”等一系列建议,以期促进本港IP(知识产权)商业化发展。

科技短期难救中国经济

Deepseek及AI国产晶片问世,中国逐渐成为真正创新强国,“科技救国”一调蔚然成风。然而科技发展一日千里,经济复苏却未见重大起色。港大协理副校长及亚洲环球研究所总监邓希炜教授接受《信报》访问时表示,中国近十年对科技发展的重视,其核心驱动力并非短期的经济增长,而是源于地缘政治下的战略考量,旨在实现长远的“科技独立”与自给自足,以应对外部压力。

分析港资工业企业 探讨香港产业政策

由香港工业总会委托笔者撰写的《香港制造:新型工业化策略》研究报告已于上月发布,本文将分享研究报告内有关港资工业企业营运情况及展望未来的部分,为香港产业政策的制定提供参考。

港次季GDP增3.1% 下半年经济稳

政府统计处公布本港第二季本地生产总值(GDP)预估数字(3.1%),不仅远高于市场预期的升幅,且高于第一季经修订的GDP升幅。香港大学协理副校长及亚洲环球研究所总监邓希炜教授指出,受惠金融业改善,对全年GDP表现仍乐观,估计可增长2.5%至3%,则政府的全年预测可达标。

中国不能期待透过出国解决产能过剩

港大协理副校长及亚洲环球研究所总监邓希炜教授接受德国之声访问时表示,内地企业因内部经济竞争太激烈,加上出口业务受关税压力,形成“不出海就出局”的局面。虽然企业的竞争优势与生产力非常强,但出海时仍需适应当地文化,例如管理和政治文化。

GDP胜2018年 消费反收缩 港经济“无就业式复苏”

香港大学协理副校长邓希炜教授接受明报访问时表示,香港经济增长但消费市道低迷,与香港价格刚性(price rigidity)现象有关,企业员工工资及店铺租金高企,导致整体价格的调整幅度慢。他说,在此前提下,一般市民的观感就是餐厅人手不足、价钱贵但不好食,高成本减弱企业竞争力、亦减低市民消费意欲。