媒體報導

去中心化金融（Decentralized Finance，簡稱DeFi）和虛擬資產市場是第三代互聯網（Web 3.0）生態圈的重要板塊，亦是全球金融城市必爭之地，它為傳統的投資方式帶來改變，同時衍生網絡安全和監管等問題。

從去年開始，在意識到傳統的金融市場發展會遇到一定瓶頸的情況下，香港便提出了發展Web3.0的戰略。Web3.0與Web2.0的主要區別之一在於使用者規模：目前Web3.0的用戶數量大約為1-2億，遠小於Web2. 0的用戶體量。 要實現Web3.0作為第三代互聯網的全面普及，使用者規模需起碼需要達到10億體量。但是要從1-2億增長到10億，中間還有很大的一個Gap。要解決這個Gap，一是傳統投資人能直接投Web3.0的資產；二是讓Web3.0上的投資人可以投資傳統資產；三是推動Web2.0與Web3.0的結合。

港大經管學院中國經濟研究所（ICE）聯同中國人民大學中國宏觀經濟論壇（CMF）日前舉辦論壇，港大經管學院實務教授及中國宏觀經濟論壇聯席主席毛振華分析中國經濟築底回升的六項重要政策選擇，當中強調應以政策協助穩住房地產價格、調整消費需求和消費能力、妥善應對及化解債務問題、激發市場與民間投資與創新，以及透過改革開放進一步提升生產量和產品質素，並認為開放是中國經濟增長與發展的源泉之一，除了全面深化改革開放，更要充分發揮香港與大灣區的優勢，透過「引進來、走出去」，加快構建經濟雙循環新格局。

WSJ talked about the current trend of corporate dictatorships, where companies are run by founder-chief executives who hold on to special voting shares or run boards as their own personal fief. The article highlights a study by Prof. Roni Michaely of the University of Hong Kong, Hyunseob Kim of the Chicago Federal Reserve, and Doron Levit of University of Washington, which found that the benefits of a benign corporate dictatorship wane over time. The research, which examined 920 companies with both voting and non-voting shares, revealed an intriguing pattern. During the initial years following an IPO, companies with founder control tended to perform on par with their more democratically governed counterparts. However, after a decade or so, a significant premium emerged for shares with full voting rights. The article argues that granting full voting rights to all stakeholders is still the best form of governance for companies in the long run.

數據如山，如何拆解香港的宏觀經濟大局？ 現今數據科學盛行，不同人士透過不同數據，運用不同方法，比較不同參考點，各自達至涇渭分明的結論。何志培博士認為，要掌握經濟的發展大局，需要運用經濟時間序列，以一目了然的圖表作切入點，結合一致的相關理論，才能呈現各個經濟範疇的發展趨向和前景。

現時經濟增長和土地供應量不足，帶動住屋需求和長遠樓價升勢，但由於中美的地緣政治、內地遊客消費模式改變，以及來自粵港澳大灣區競爭日益激烈，令寫字樓和零售店舖的空置率均錄得高水平。香港經濟發展應何去何從？

港大經管學院早前公佈2024年第三季本港經濟的預測，對於略顯低迷的消費氣氛，港大經管學院副院長及亞洲環球研究所總監鄧希煒教授，於接受Now新聞的訪問時指出，投資和消費信心是關鍵。「受財富效應影響，由於短期内股市和樓市狀況形成負面的財富效應，市民投資和消費的信心自然不高，長遠而言要視乎政府三年內的經濟轉型政策，提供新的經濟增長點。」

香港人說不好英語了嗎？2023年EF English First英語能力指標測試報告指出，在亞洲23個國家和地區中，香港排名第4。在亞洲的發達地區之中，則出現兩個對英語取態迥然相異的例子。

The shrinking salaries of China’s financial professionals have made the jobs in this sector losing lustre. Prof. Zhiwu Chen, Chair Professor of Finance at HKU Business School, commented that such pay cuts may drive away skilled financial professionals, and depress supply of risk capital and other financial services. He said, “[Over time], tech start-ups and the real economy will also suffer if there is fewer risk capital and financial products to support them.” China’s financial industry used to be providing generous salaries to bankers and financial brokers in a push to incentivise performance and internationalise operations. Prof. Chen said that a market-oriented way is better than top-down directives to decide compensation for financial professionals. “China needs to loosen regulations, increase competition to drive down the price of financial services [to benefit people and businesses],” he said.