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
香港外汇基金增持黄金,意味著什么?

新一份《施政报告》提出研究在外汇基金增持黄金,港大经管学院副院长邓希炜教授接受有线新闻《财智.商传》访问时指出,目前黄金仅占金管局外汇储备约0.5%,低于全球多国央行,如中国央行的黄金约占其外汇储备的8%;而美国、欧洲央行及日本等主要经济体央行,相关比例接近20%。

再全球化下的香港新定位

香港首份五年规划上周出炉,港大经管学院副院长邓希炜教授接受《凤凰卫视》访问时形容,这是一份“具香港特色的五年规划”,提出务实及清晰的KPI。

点评规划施政:发展新型工业如何创造社会红利?

香港首份五年规划及新一份施政报告今日出炉,当中有相当的篇幅聚焦发展新型工业及创科,并提出在未来五年将新型工业产业增加值及创科开支占GDP的比例,分别上升至5.5%及3%。

规划施政前瞻|据悉政府进一步推动AI及“金融+” 学者倡先做好生态系统

香港新一份《施政报告》将于9月16日宣布,据了解报告倾向进一步推动人工智能及“金融+”的措施。港大经管学院副院长邓希炜教授接受TVB访问指出,要推动相关措施,首要做好生态系统。

人工智能贸易勃兴 香港枢纽功能见效

全球AI热潮方兴未艾,算力硬件需求正急速增长。在这场科技革命中,香港进出口业成功把握时代机遇,增长势头强劲。

为什么老字号的价值,不能只看GDP?

港人北上消费成风,香港老字号能否逆境求生?港大经管学院副院长邓希炜教授接受新加坡新传媒(Mediacorp)《焦点》访问时指出,香港经济以金融和专业服务为主,劳动成本日益上涨,传统手工艺的获利空间已经非常有限。

地缘政治挑战下,中国企业如何自力更新?

多家媒体于港大经管学院中国经济研究所举办的第十一届“香港大学中国经济季度论坛”上,采访了港大经管学院副院长邓希炜教授。