{"id":54463,"date":"2020-08-07T23:14:57","date_gmt":"2020-08-07T15:14:57","guid":{"rendered":"https:\/\/www.fbe.hku.hk\/%e7%a0%94%e7%a9%b6\/thought-leadership\/"},"modified":"2023-11-09T20:41:47","modified_gmt":"2023-11-09T12:41:47","slug":"thought-leadership","status":"publish","type":"page","link":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/","title":{"rendered":"\u601d\u7dad\u9818\u5c0e"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"54463\" class=\"elementor elementor-54463 elementor-970\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bb38755 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bb38755\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b8378ca\" data-id=\"b8378ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2c1d425 elementor-widget elementor-widget-shortcode\" data-id=\"2c1d425\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"tl-overview-filter-header\"><div tabindex=\"0\" class=\"option active\" data-category=\"latest-research-publications-tc\">\u5b78\u8853\u8ad6\u6587<\/div><div tabindex=\"0\" class=\"option \" data-category=\"research-impacts-tc\">\u7814\u7a76\u7126\u9ede<\/div><div tabindex=\"0\" class=\"option \" data-category=\"global-scholars-tc\">\u5168\u7403\u5b78\u8005<\/div><div tabindex=\"0\" class=\"option \" data-category=\"talk-business-tc\">\u77e5\u8b58\u8f49\u79fb<\/div><div tabindex=\"0\" class=\"option \" data-category=\"ft-chinese-column-tc\">\u660e\u5fb7\u5546\u8ad6<\/div><div tabindex=\"0\" class=\"option \" data-category=\"hkej-column-tc\">\u9f8d\u864e\u5c71\u4e0b<\/div><div tabindex=\"0\" class=\"option \" data-category=\"opinions-and-speeches-tc\">\u5a92\u9ad4\u5831\u5c0e<\/div><\/div><div class=\"tl-overview-tab\"><div class=\"tl-overview-tab-content active\" data-category=\"latest-research-publications-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/latest-research-publications\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/53492\/shutterstock_250261546-scaled-1600x500-c.jpg\" class=\"attachment-leadership-overview-banner\" alt=\"\u601d\u7dad\u9818\u5c0e\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u5b78\u8853\u8ad6\u6587<\/div><p>\u9ede\u64ca\u4e86\u89e3\u6211\u5011\u6700\u65b0\u7684\u7814\u7a76\u8ad6\u6587\u3002\u9019\u4e9b\u6587\u7ae0\u4ecb\u7d39\u4e86\u6211\u5011\u5b78\u8005\u5275\u65b0\u7684\u7814\u7a76\uff0c\u4ee5\u53ca\u4ed6\u5011\u5982\u4f55\u80fd\u61c9\u5c0d\u793e\u6703\u7684\u6311\u6230\uff0c\u5728\u77e5\u8b58\u548c\u6280\u8853\u7684\u524d\u6cbf\u63a8\u9032\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/doi.org\/10.1002\/smj.70083\" class=\"blog-post_feature-link \"><img decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/263575\/pub_202608_MS_YangB_Information-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"Information-Seeking Lobbying and Strategic Stockpiling under Trade Policy Uncertainty\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/doi.org\/10.1002\/smj.70083\" class=\"blog-post_feature-link\">Information-Seeking Lobbying and Strategic Stockpiling under Trade Policy Uncertainty<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/bo-yang\/\">Prof. Bo YANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">This study investigates how firms engage in information-seeking lobbying to address trade policy uncertainty. I argue that lobbying enables firms to gain early insights into forthcoming tariff actions, allowing them to strategically stockpile products likely to be targeted. Using shipping records of US firms during the 2018 US\u2013China trade war, I find that lobbying firms increased imports of soon-to-be-tariffed products before tariff lists were publicly released, compared to non-lobbying firms. This selective stockpiling pattern disappeared after tariff announcements. Further analysis shows that lobbying firms were less likely to request tariff exemptions for products they had preemptively stockpiled, suggesting that information-seeking lobbying during policy formulation provides an additional benefit by reducing the need for costly government engagement during the implementation phase.<\/div><div class=\"blog-post_datetime\">August 2026<\/div><div class=\"blog-post_category\">Strategic Management Journal<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/doi.org\/10.1002\/smj.70083\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/doi.org\/10.1016\/j.jfineco.2026.104309\" class=\"blog-post_feature-link \"><img decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/261246\/pub_202608_FINA_ZhangJ_Dirty-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"Dirty Air and Green Investments: The Impact of Pollution Information on Portfolio Allocations\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/doi.org\/10.1016\/j.jfineco.2026.104309\" class=\"blog-post_feature-link\">Dirty Air and Green Investments: The Impact of Pollution Information on Portfolio Allocations<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/jian-zhang\/\">Prof. Jian ZHANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">We study whether access to local pollution information causes investors to make greener portfolio allocations, exploiting the rollout of air quality monitoring stations in India. Using a triple-differences framework on the trading records of 19 million investors, we show that retail investors\u2019 holdings in \u201cbrown\u201d stocks become more negatively related to local pollution after a nearby station appears. This effect is more pronounced on \u201calert\u201d dates when air quality is reported to be harmful. The effect is strongest among tech-savvy investors likely \u201ctreated\u201d by real-time pollution data, and younger investors, who may be more sensitive to environmental concerns.\r\n<\/div><div class=\"blog-post_datetime\">August 2026<\/div><div class=\"blog-post_category\">Journal of Financial Economics<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/doi.org\/10.1016\/j.jfineco.2026.104309\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/doi.org\/10.1016\/j.jeconom.2025.106066\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/262699\/pub_202607_FINA_HuangJ_Model-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"Model Uncertainty in the Cross-Section of Stock Returns\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/doi.org\/10.1016\/j.jeconom.2025.106066\" class=\"blog-post_feature-link\">Model Uncertainty in the Cross-Section of Stock Returns<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/jiantao-huang\/\">Prof. Jiantao HUANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">We develop a transparent Bayesian framework to measure uncertainty in asset pricing models. By assigning a modified class of \r\n-priors to the risk prices of asset pricing factors, our method quantifies the trade-off between mean\u2013variance efficiency and parsimony for asset pricing models to achieve high posterior probabilities. Model uncertainty is defined as the entropy of these model probabilities. We prove the model selection consistency property of our procedure, which is missing from the classic \r\n-priors. Acknowledging the possibility of omitting true asset pricing factors in real applications, we also characterize the maximum degree of contamination that the omitted factors can introduce to our model uncertainty measure. Empirically, we find that model uncertainty escalates during major market events and carries a significantly negative risk premium of approximately half the magnitude of the market. Positive shocks to model uncertainty predict persistent outflows from US equity funds and inflows to Treasury funds.\r\n<\/div><div class=\"blog-post_datetime\">July 2026<\/div><div class=\"blog-post_category\">Journal of Econometrics<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/doi.org\/10.1016\/j.jeconom.2025.106066\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/latest-research-publications\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"research-impacts-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/research-impacts\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/53482\/shutterstock_136197095-scaled-1600x500-c.jpg\" class=\"attachment-leadership-overview-banner\" alt=\"Model Uncertainty in the Cross-Section of Stock Returns\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u7814\u7a76\u7126\u9ede<\/div><p>\u4e86\u89e3\u6e2f\u5927\u7d93\u7ba1\u9662\u7684\u516d\u500b\u5b78\u8853\u9818\u57df\u4e2d\u7684\u5353\u8d8a\u7814\u7a76\u548c\u7368\u5230\u898b\u89e3\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/research-impacts\/corporate-lobbying-of-bureaucrats\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/227075\/IMG_6638-680x440-c.jpeg\" class=\"attachment-event-thumbnail\" alt=\"Corporate Lobbying of Bureaucrats\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/research-impacts\/corporate-lobbying-of-bureaucrats\/\" class=\"blog-post_feature-link\">Corporate Lobbying of Bureaucrats<\/a><\/div><div class=\"article-content\">Executive agencies play a pivotal role in shaping the regulatory environment by crafting rules, enforcing regulations, and overseeing government contracts\u2014all of which can have a profound impact on businesses. For firms, this potential impact creates a clear incentive for firms to influence these agencies, particularly during the critical stages of rulemaking and enforcement. In this context, lobbying emerges as a key tool that companies use to mold the regulatory landscape to their advantage.\r\n\r\nUnlike politicians, whose decisions are often swayed by electoral cycles and campaign contributions, agency officials are not elected, serve longer terms, and are less susceptible to direct political pressures. As a result, engaging in lobbying efforts with executive agencies is both more complicated and strategically crucial for firms operating within heavily regulated industries. However, the dynamics of such lobbying remain underexplored in the literature.<\/div><div class=\"blog-post_datetime\">3 Jan 2025<\/div><div class=\"blog-post_category\">\u7814\u7a76<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/research-impacts\/%e6%98%a5%e7%af%80%e5%b9%b8%e7%a6%8f%e6%84%9f%e5%92%8c%e7%96%ab%e6%83%85%e6%84%9f%e7%9f%a5%e9%a2%a8%e9%9a%aa%e8%aa%bf%e6%9f%a5%ef%bc%9a%e4%be%86%e8%87%aa%e6%a9%9f%e5%99%a8%e5%ad%b8%e7%bf%92%e7%9a%84\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/182256\/shutterstock_2107601570-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u6625\u7bc0\u5e78\u798f\u611f\u548c\u75ab\u60c5\u611f\u77e5\u98a8\u96aa\u8abf\u67e5\uff1a\u4f86\u81ea\u6a5f\u5668\u5b78\u7fd2\u7684\u6d1e\u5bdf\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/research-impacts\/%e6%98%a5%e7%af%80%e5%b9%b8%e7%a6%8f%e6%84%9f%e5%92%8c%e7%96%ab%e6%83%85%e6%84%9f%e7%9f%a5%e9%a2%a8%e9%9a%aa%e8%aa%bf%e6%9f%a5%ef%bc%9a%e4%be%86%e8%87%aa%e6%a9%9f%e5%99%a8%e5%ad%b8%e7%bf%92%e7%9a%84\/\" class=\"blog-post_feature-link\">\u6625\u7bc0\u5e78\u798f\u611f\u548c\u75ab\u60c5\u611f\u77e5\u98a8\u96aa\u8abf\u67e5\uff1a\u4f86\u81ea\u6a5f\u5668\u5b78\u7fd2\u7684\u6d1e\u5bdf<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/sc\/people\/jayson-shi-jia\/\">Prof. Jayson Shi JIA<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">2023\u5e74\u525b\u7d50\u675f\u7684\u5154\u5e74\u6625\u7bc0\u5167\u5730\u6c11\u773e\u904e\u5f97\u600e\u6a23\uff1f\u8abf\u67e5\u986f\u793a\uff0c\u5154\u5e74\u6625\u7bc0\u671f\u9593\uff0c\u6c11\u773e\u7684\u5e78\u798f\u611f\u5e73\u5747\u503c\u70ba5.47\uff0c\u4ecb\u65bc\u201c\u6bd4\u8f03\u958b\u5fc3\u201d\u8207\u201c\u958b\u5fc3\u201d\u4e4b\u9593\uff081\u70ba\u6700\u4f4e\u503c\uff0c7\u70ba\u6700\u9ad8\u503c\uff09\uff0c\u201c\u6bd4\u8f03\u958b\u5fc3\u201d\u4ee5\u4e0a\u4eba\u7fa4\u5360\u6bd4\u70ba83.1%\u3002<\/div><div class=\"blog-post_datetime\">10 Feb 2023<\/div><div class=\"blog-post_category\">\u5e02\u5834\u5b78<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/hbr.org\/2022\/07\/how-to-recover-from-work-stress-according-to-science\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/170212\/WorkStress-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"How to Recover from Work Stress, According to Science\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/hbr.org\/2022\/07\/how-to-recover-from-work-stress-according-to-science\" class=\"blog-post_feature-link\">How to Recover from Work Stress, According to Science<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/sc\/people\/bonnie-hayden-cheng-3\/\">Prof. Bonnie Hayden CHENG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">To combat stress and burnout, employers are increasingly offering benefits like virtual mental health support, spontaneous days or even weeks off, meeting-free days, and flexible work scheduling. Despite these efforts and the increasing number of employees buying into the importance of wellness, the effort is lost if you don\u2019t actually recover. So, if you feel like you\u2019re burning out, what works when it comes to recovering from stress? The authors discuss the \u201crecovery paradox\u201d \u2014 that when our bodies and minds need to recover and reset the most, we\u2019re the least likely and able to do something about it \u2014 and present five research-backed strategies for recovering from stress at work.<\/div><div class=\"blog-post_datetime\">05 Jul 2022<\/div><div class=\"blog-post_category\">\u7ba1\u7406\u53ca\u5546\u696d\u7b56\u7565<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/hbr.org\/2022\/07\/how-to-recover-from-work-stress-according-to-science\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/research-impacts\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"global-scholars-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/global-scholars\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/202058\/shutterstock_2147248723-scaled-1600x500-c.jpeg\" class=\"attachment-leadership-overview-banner\" alt=\"How to Recover from Work Stress, According to Science\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u5168\u7403\u5b78\u8005<\/div><\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.youtube.com\/watch?v=ywBIxCC2Yos\" class=\"blog-post_feature-link video-link\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/192877\/cover_web-680x440-c.png\" class=\"attachment-event-thumbnail\" alt=\"Get to Know Professor Roni Michaely\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.youtube.com\/watch?v=ywBIxCC2Yos\" class=\"blog-post_feature-link\">Get to Know Professor Roni Michaely<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/roni-michaely\/\">Prof. Roni MICHAELY<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\"><\/div><div class=\"blog-post_datetime\">30 Jun 2023<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.youtube.com\/watch?v=HSWZ_zoENAI\" class=\"blog-post_feature-link video-link\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/192292\/thumbnail_web-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"Get to Know Dr. Yifei Zhang\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.youtube.com\/watch?v=HSWZ_zoENAI\" class=\"blog-post_feature-link\">Get to Know Dr. Yifei Zhang<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/people\/yifei-zhang\/\">Dr. Yifei ZHANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\"><\/div><div class=\"blog-post_datetime\">21 Jun 2023<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.youtube.com\/watch?v=3qw0BdLR3FQ\" class=\"blog-post_feature-link video-link\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/192177\/thumbnail-Copy-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"Get to know Dr. Jie Gong\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.youtube.com\/watch?v=3qw0BdLR3FQ\" class=\"blog-post_feature-link\">Get to know Dr. Jie Gong<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/jie-gong\/\">Prof. Jie GONG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\"><\/div><div class=\"blog-post_datetime\">16 Jun 2023<\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/global-scholars\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"talk-business-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/talk-business\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/80340\/topbanner_talkbz_v2-1600x500-c.jpg\" class=\"attachment-leadership-overview-banner\" alt=\"Get to know Dr. Jie Gong\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u77e5\u8b58\u8f49\u79fb<\/div><p>\u900f\u904e\u7c21\u77ed\u7684\u6458\u8981\u548c\u8996\u983b\uff0c\u6211\u5011\u4ee5\u5275\u65b0\u7684\u65b9\u5f0f\u7a81\u51fa\u4e86\u6211\u5011\u6559\u8077\u54e1\u7684\u7814\u7a76\u9805\u76ee\uff0c\u8b93\u516c\u773e\u53ef\u4ee5\u6df1\u5165\u4e86\u89e3\u7576\u524d\u4e16\u754c\u7d93\u6fdf\u7684\u767c\u5c55\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/learning-to-coordinate-in-firms-behaviours-dr-jasmine-yu-hao\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/162062\/FBE_0038-1-scaled-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u7814\u7a76\u4f01\u696d\u4e4b\u9593\u7684\u5354\u8abf\u884c\u70ba \u2013 \u90dd\u5b87\u535a\u58eb\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/learning-to-coordinate-in-firms-behaviours-dr-jasmine-yu-hao\/\" class=\"blog-post_feature-link\">\u7814\u7a76\u4f01\u696d\u4e4b\u9593\u7684\u5354\u8abf\u884c\u70ba \u2013 \u90dd\u5b87\u535a\u58eb<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/jasmin-hao\/\">Prof. Jasmine Y. HAO<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u8a08\u7b97\u6a5f\u7de8\u7a0b\u807d\u8d77\u4f86\u597d\u50cf\u548c\u7d93\u6fdf\u98a8\u99ac\u725b\u4e0d\u76f8\u53ca\uff0c\u4f46\u64c1\u6709\u51fa\u8272\u7684\u7de8\u7a0b\u6280\u8853\uff0c\u4e0d\u4f46\u80fd\u5e6b\u52a9\u500b\u4eba\u9032\u884c\u7d93\u6fdf\u5b78\u5b78\u8853\u7814\u7a76\uff0c\u66f4\u80fd\u52a9\u4f60\u5728\u5546\u754c\u6349\u7dca\u66f4\u591a\u5c31\u696d\u6a5f\u6703\u3002<\/div><div class=\"blog-post_datetime\">31 Jan 2022<\/div><div class=\"blog-post_category\">\u7d93\u6fdf\u5b78<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/learning-to-coordinate-in-firms-behaviours-dr-jasmine-yu-hao\/\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/talk-business\/the-price-of-zero-covid-amid-worsening-pandemic\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/161909\/Maurice-Web-680x440-c.png\" class=\"attachment-event-thumbnail\" alt=\"\u75ab\u6cc1\u6108\u4e0b \u300c\u6e05\u96f6\u300d\u4f55\u50f9?\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/talk-business\/the-price-of-zero-covid-amid-worsening-pandemic\/\" class=\"blog-post_feature-link\">\u75ab\u6cc1\u6108\u4e0b \u300c\u6e05\u96f6\u300d\u4f55\u50f9?<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/maurice-k-s-tse\/\">Prof. Maurice K.S. TSE<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u9999\u6e2f\u5728\u9023\u7e8c\u6578\u6708\u300c\u6e05\u96f6\u300d\u5f8c\uff0c\u5728\u793e\u5340\u51fa\u73feOmicron\u8b8a\u7a2e\u75c5\u6bd2\u500b\u6848\uff0c\u7206\u767c\u7b2c\u4e94\u6ce2\u75ab\u60c5\uff0c\u7279\u5340\u653f\u5e9c\u56e0\u800c\u91cd\u65b0\u63a8\u51fa\u8868\u5217\u8655\u6240\u9808\u95dc\u9589\u7b49\u793e\u4ea4\u8ddd\u96e2\u9632\u75ab\u63aa\u65bd\uff0c\u4e26\u53d6\u6d88\u591a\u9805\u5927\u578b\u6d3b\u52d5\u3002<\/div><div class=\"blog-post_datetime\">26 Jan 2022<\/div><div class=\"blog-post_category\">\u7d93\u6fdf\u5b78<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/to-imagine-the-future-of-digital-currencies-dr-yang-you\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/161482\/Yang-YOU-1150X747-Formal-680x440-c.png\" class=\"attachment-event-thumbnail\" alt=\"\u69cb\u60f3\u865b\u64ec\u8ca8\u5e63\u7684\u672a\u4f86 \u2013 \u6e38\u694a\u535a\u58eb\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/to-imagine-the-future-of-digital-currencies-dr-yang-you\/\" class=\"blog-post_feature-link\">\u69cb\u60f3\u865b\u64ec\u8ca8\u5e63\u7684\u672a\u4f86 \u2013 \u6e38\u694a\u535a\u58eb<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/yang-you\/\">Prof. Yang YOU<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u4f5c\u70ba\u6559\u5e2b\uff0c\u5728\u9f13\u52f5\u540c\u5b78\u52aa\u529b\u5b78\u7fd2\u4e4b\u9918\uff0c\u6211\u4ea6\u6703\u4e3b\u52d5\u4e86\u89e3\u672c\u5730\u5e02\u5834\u904b\u4f5c\u4ee5\u53ca\u9080\u8acb\u50f1\u4e3b\u4f86\u5230\u8ab2\u5802\u5206\u4eab\u696d\u754c\u7d93\u9a57\u3002<\/div><div class=\"blog-post_datetime\">18 Jan 2022<\/div><div class=\"blog-post_category\">\u91d1\u878d\u5b78<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/media\/school-news\/to-imagine-the-future-of-digital-currencies-dr-yang-you\/\">External Link<\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/talk-business\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"ft-chinese-column-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/ft-chinese-column\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/202055\/shutterstock_124029454-scaled-1600x500-c.jpeg\" class=\"attachment-leadership-overview-banner\" alt=\"\u69cb\u60f3\u865b\u64ec\u8ca8\u5e63\u7684\u672a\u4f86 \u2013 \u6e38\u694a\u535a\u58eb\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u660e\u5fb7\u5546\u8ad6<\/div><p>\u672c\u96d9\u9031\u5c08\u6b04\u662f\u7531\u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u7684\u5c08\u5bb6\u6559\u6388\u64b0\u5beb\uff0c\u5c07\u70ba\u8b80\u8005\u63d0\u4f9b\u5c0d\u5546\u696d\u3001\u91d1\u878d\u3001\u7d93\u6fdf\u548c\u79d1\u6280\u9818\u57df\u6700\u65b0\u8da8\u52e2\u548c\u5275\u65b0\u7684\u7368\u7279\u898b\u89e3\uff0c\u5e6b\u52a9\u4ed6\u5011\u4fdd\u6301\u9818\u5148\u5730\u4f4d\u3002\u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u81f4\u529b\u65bc\u57f9\u990a\u4e00\u6d41\u7684\u5546\u696d\u9818\u8896\u548c\u63a8\u52d5\u5b78\u8853\u548c\u76f8\u95dc\u7814\u7a76\uff0c\u5728\u4e9e\u6d32\u5c0e\u5411\u7d93\u6fdf\u767c\u5c55\u7684\u4e16\u754c\u5927\u6f6e\u6d41\u4e4b\u4e0b\uff0c\u70ba\u9999\u6e2f\u3001\u4e2d\u570b\u4e43\u81f3\u4e16\u754c\u5404\u570b\u7684\u767c\u5c55\u63d0\u4f9b\u4e0d\u53ef\u6216\u7f3a\u7684\u52d5\u529b\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/the-smartest-ai-is-not-always-the-best-ai-trader\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/263792\/shutterstock_2523826199-scaled-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u6700\u300c\u8070\u660e\u300d\u7684AI\u672a\u5fc5\u662f\u6700\u512a\u79c0\u7684AI\u4ea4\u6613\u54e1\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/the-smartest-ai-is-not-always-the-best-ai-trader\/\" class=\"blog-post_feature-link\">\u6700\u300c\u8070\u660e\u300d\u7684AI\u672a\u5fc5\u662f\u6700\u512a\u79c0\u7684AI\u4ea4\u6613\u54e1<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/zhenhui-jack-jiang\/\">Prof. Zhenhui Jack JIANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u8fd1\u671f\uff0cInteractive Brokers \u5ba3\u4f48\uff0c\u7528\u6236\u53ef\u5c07 ChatGPT\u3001Claude\u3001Grok \u7b49\u5927\u8a9e\u8a00\u6a21\u578b\u76f4\u63a5\u63a5\u5165\u6295\u8cc7\u8cec\u6236\uff0c\u7528\u65bc\u5e02\u5834\u7814\u7a76\u3001\u6295\u8cc7\u7d44\u5408\u5206\u6790\uff0c\u4e43\u81f3\u751f\u6210\u4ea4\u6613\u6307\u4ee4\u3002 \u5927\u8a9e\u8a00\u6a21\u578b\u6b63\u5f9e\u300c\u56de\u7b54\u554f\u984c\u300d\u300c\u751f\u6210\u5167\u5bb9\u300d\u7684\u5c0d\u8a71\u5de5\u5177\uff0c\u6f14\u5316\u70ba\u80fd\u8abf\u7528\u5916\u90e8\u5de5\u5177\u3001\u9023\u63a5\u771f\u5be6\u7cfb\u7d71\u3001\u53c3\u8207\u8907\u96dc\u6c7a\u7b56\u7684\u667a\u80fd\u9ad4\u3002 <\/div><div class=\"blog-post_datetime\">9 Jul 2026<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/when-images-are-no-longer-proof-trust-and-markets-in-the-ai-age\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/262965\/2026.06.29_FT_Prof.-Guojun-He-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u7576\u5716\u7247\u4e0d\u518d\u7b97\u8b49\u64da\uff1aAI\u6642\u4ee3\u7684\u4fe1\u4efb\u91cd\u4f30\u8207\u5e02\u5834\u7d50\u69cb\u91cd\u7d44\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/when-images-are-no-longer-proof-trust-and-markets-in-the-ai-age\/\" class=\"blog-post_feature-link\">\u7576\u5716\u7247\u4e0d\u518d\u7b97\u8b49\u64da\uff1aAI\u6642\u4ee3\u7684\u4fe1\u4efb\u91cd\u4f30\u8207\u5e02\u5834\u7d50\u69cb\u91cd\u7d44<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/guojun-he\/\">Prof. Guojun He<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u904e\u53bb\u6211\u5011\u8cb7\u6771\u897f\uff0c\u591a\u5c11\u6709\u9ede\u50cf\u76f8\u89aa\u3002 \u5148\u770b\u7167\u7247\uff0c\u55ef\uff0c\u633a\u7cbe\u795e; \u518d\u770b\u81ea\u6211\u4ecb\u7d39\uff0c\u771f\u8aa0\u3001\u5c08\u696d\u3001\u503c\u5f97\u8a17\u4ed8; \u6700\u5f8c\u770b\u770b\u5225\u4eba\u8a55\u50f9\uff0c\u4e94\u661f\u597d\u8a55\u3001\u56de\u8cfc\u4e09\u6b21\u3001\u9589\u773c\u5165\u3002 \u65bc\u662f\u6211\u5011\u4e0b\u55ae\uff0c\u5c31\u50cf\u5728\u5fc3\u88e1\u9ed8\u9ed8\u8aaa\uff1a\u96d6\u7136\u6211\u5011\u7d20\u672a\u8b00\u9762\uff0c\u4f46\u6211\u9858\u610f\u76f8\u4fe1\u4f60\u4e0d\u662f\u300c\u7167\u9a19\u300d\u3002<\/div><div class=\"blog-post_datetime\">25 Jun 2026<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/a-new-era-of-globalisation-co-led-by-chinese-enterprises-has-arrived\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/262058\/2026.06.15_FT_Prof.-Heiwai-Tang-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u7531\u4e2d\u4f01\u5171\u540c\u4e3b\u6f14\u7684\u5168\u7403\u5316\u6642\u4ee3\u7d93\u5df2\u4f86\u81e8\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/a-new-era-of-globalisation-co-led-by-chinese-enterprises-has-arrived\/\" class=\"blog-post_feature-link\">\u7531\u4e2d\u4f01\u5171\u540c\u4e3b\u6f14\u7684\u5168\u7403\u5316\u6642\u4ee3\u7d93\u5df2\u4f86\u81e8<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/heiwai-tang\/\">Prof. Heiwai TANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u904e\u53bb\u903e\u534a\u500b\u4e16\u7d00\u7684\u5168\u7403\u5546\u696d\u53f2\uff0c\u6709\u5169\u500b\u4ee4\u4eba\u5370\u8c61\u6df1\u523b\u7684\u666f\u8c61\u3002 \u4e00\u662f\u901a\u7528\u6c7d\u8eca\u3001\u53ef\u53e3\u53ef\u6a02\u3001\u9ea5\u7576\u52de\u3001\u661f\u5df4\u514b\u3001\u8010\u514b\u3001\u860b\u679c\u3001\u7279\u65af\u62c9\u7b49\u7f8e\u4f01\u5e2d\u6372\u5168\u7403; \u4e8c\u662f\u8c50\u7530\u3001\u7d22\u5c3c\u3001\u8fc5\u92b7\u7b49\u65e5\u4f01\u5728\u6d77\u5916\u5e02\u5834\u653b\u57ce\u63a0\u5730\u3002 \u5982\u4eca\uff0c\u6bd4\u4e9e\u8fea\u3001\u5be7\u5fb7\u6642\u4ee3\u3001\u5b57\u7bc0\u8df3\u52d5 \uff08TikTok\uff09\u3001\u62fc\u591a\u591a\uff08Temu\uff09 \u7b49\u4e2d\u4f01\uff0c\u6b63\u6380\u8d77\u65b0\u4e00\u8f2a\u5168\u7403\u5316\u6d6a\u6f6e\u3002<\/div><div class=\"blog-post_datetime\">11 Jun 2026<\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/ft-chinese-column\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"hkej-column-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/hkej-column\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/202055\/shutterstock_124029454-scaled-1600x500-c.jpeg\" class=\"attachment-leadership-overview-banner\" alt=\"\u7531\u4e2d\u4f01\u5171\u540c\u4e3b\u6f14\u7684\u5168\u7403\u5316\u6642\u4ee3\u7d93\u5df2\u4f86\u81e8\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u9f8d\u864e\u5c71\u4e0b<\/div><p>\u6211\u5011\u7684\u6559\u8077\u54e1\u6703\u5728\u300a\u4fe1\u5831\u300b\u7684\u6bcf\u9031\u5c08\u6b04\u4e2d\u64b0\u6587\uff0c\u5c31\u8207\u9999\u6e2f\uff0c\u5927\u4e2d\u83ef\u5340\u548c\u4e9e\u592a\u5730\u5340\u6709\u95dc\u7684\u554f\u984c\u9032\u884c\u7d93\u6fdf\u653f\u7b56\u7814\u7a76\u3002 \u6211\u5011\u5e0c\u671b\u900f\u904e\u8207\u4e0d\u540c\u7684\u6301\u4efd\u8005\u5206\u4eab\u77e5\u8b58\u548c\u898b\u89e3\uff0c\u5438\u5f15\u5927\u773e\u7684\u95dc\u6ce8\u548c\u8a0e\u8ad6\uff0c\u5e0c\u671b\u80fd\u5e6b\u52a9\u89e3\u6c7a\u793e\u6703\u554f\u984c\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/stablecoins-from-issuance-race-to-network-battle\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/264821\/2026.07.22-HKEJ-social-media-visual-680x440-c.png\" class=\"attachment-event-thumbnail\" alt=\"\u7a69\u5b9a\u5e63\u5e02\u5834\u7af6\u722d\u5f9e\u767c\u884c\u8f49\u5411\u5efa\u7db2\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/stablecoins-from-issuance-race-to-network-battle\/\" class=\"blog-post_feature-link\">\u7a69\u5b9a\u5e63\u5e02\u5834\u7af6\u722d\u5f9e\u767c\u884c\u8f49\u5411\u5efa\u7db2<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/xiang-fang\/\">Prof. Xiang FANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><a href=\"https:\/\/www.hkubs.hku.hk\/people\/yang-liu\/\">Prof. Yang LIU<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><a href=\"https:\/\/www.hkubs.hku.hk\/people\/haonan-zhou\/\">Prof. Haonan ZHOU<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u96a8\u7740\u5168\u7403\u8ca8\u5e63\u6578\u5b57\u5316\u767c\u5c55\u65e5\u8da8\u6210\u719f\uff0c\u7a69\u5b9a\u5e63\u5e02\u5834\u6b63\u919e\u91c0\u4e00\u9805\u610f\u7fa9\u91cd\u5927\u7684\u65b0\u52d5\u5411\u3002\u64da\u5831\u9053\uff0cVisa\u3001Stripe\u7b49\u903e\u767e\u5bb6\u91d1\u878d\u8207\u79d1\u6280\u6a5f\u69cb\u806f\u624b\u7d44\u6210 Open Standard \u806f\u76df\uff0c\u9810\u8a08\u65bc\u5e74\u5167\u63a8\u51fa\u7f8e\u5143\u7a69\u5b9a\u5e63 Open USD\u3002<\/div><div class=\"blog-post_datetime\">22 Jul 2026<\/div><div class=\"blog-post_category\">\u6559\u5b78\u4eba\u54e1<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-global-current-account-imbalance-then-and-now\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/264164\/2026.07.16_HKEJ_Dr.-Y.F-Luk-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u5168\u7403\u7d93\u6fdf\u7684\u4e00\u500b\u5beb\u7167\uff1a\u7d93\u5e38\u5e33\u5931\u8861\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-global-current-account-imbalance-then-and-now\/\" class=\"blog-post_feature-link\">\u5168\u7403\u7d93\u6fdf\u7684\u4e00\u500b\u5beb\u7167\uff1a\u7d93\u5e38\u5e33\u5931\u8861<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/sc\/people\/y-f-luk\/\">Dr. Y. F. LUK<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u7d0420\u5e74\u524d\uff0c\u5168\u7403\u7d93\u6fdf\u7684\u4e00\u500b\u91cd\u8981\u8b70\u984c\u662f\u7d93\u5e38\u5e33\u5931\u8861\u3002\u7d93\u5e38\u5e33\u5305\u62ec\u5546\u54c1\u548c\u670d\u52d9\u9032\u51fa\u53e3\uff0c\u53ca\u548c\u5916\u570b\u4e92\u76f8\u6295\u8cc7\u7684\u56de\u5831\u5dee\u984d\uff0c\u800c\u4ee5\u524d\u8005\u70ba\u4e3b\u3002\u7d93\u5e38\u5e33\u5931\u8861\uff0c\u53ef\u8996\u70ba\u8cbf\u6613\u5931\u8861\uff0c\u5373\u8846\u591a\u7d93\u6fdf\u9ad4\u7684\u8cbf\u6613\u76c8\u9918\u6216\u8d64\u5b57\uff0c\u4f5c\u70baGDP\u7684\u6bd4\u4f8b\u6301\u7e8c\u5b58\u5728\u751a\u81f3\u589e\u52a0\u3002<\/div><div class=\"blog-post_datetime\">15 Jul 2026<\/div><div class=\"blog-post_category\">\u6559\u5b78\u4eba\u54e1<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/sorted-but-still-buried-hong-kongs-unfinished-plastic-loop\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/263583\/shutterstock_2758300875-scaled-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u81a0\u6a3d\u9032\u586b\u57cb\u00a0\u00a0 \u6e1b\u5851\u96e3\u9589\u74b0\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/sorted-but-still-buried-hong-kongs-unfinished-plastic-loop\/\" class=\"blog-post_feature-link\">\u81a0\u6a3d\u9032\u586b\u57cb\u00a0\u00a0 \u6e1b\u5851\u96e3\u9589\u74b0<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/guojun-he\/\">Prof. Guojun He<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u4f60\u628a\u559d\u5269\u7684\u534a\u652f\u84b8\u993e\u6c34\u5012\u6389\uff0c\u7136\u5f8c\u628a\u81a0\u6a3d\u9023\u84cb\u5e36\u6a19\u7c64\u6295\u9032\u8857\u89d2\u7684\u5561\u8272\u6876\u3002\u5c0d\u4f60\u800c\u8a00\uff0c\u9019\u652f\u81a0\u6a3d\u7684\u6545\u4e8b\u5230\u6b64\u70ba\u6b62\uff1b\u4f46\u5b83\u6709\u9817\u5927\u6a5f\u6703\u4e26\u4e0d\u6703\u901a\u5f80\u56de\u6536\u518d\u9020\u4e4b\u8def\uff0c\u800c\u662f\u88ab\u9001\u5230\u5806\u586b\u5340\u3002<\/div><div class=\"blog-post_datetime\">8 Jul 2026<\/div><div class=\"blog-post_category\">\u6559\u5b78\u4eba\u54e1<\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"text-center\"><a class=\"wgl-button btn-primary btn-size-lg\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/\">\u5c55\u793a\u66f4\u591a<\/a><\/div><\/div><div class=\"tl-overview-tab-content \" data-category=\"opinions-and-speeches-tc\"><div class=\"tl-overview-banner\"><a href=\"\/research\/thought-leadership\/opinions-and-speeches\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"500\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/53495\/shutterstock_425316655-scaled-1600x500-c.jpg\" class=\"attachment-leadership-overview-banner\" alt=\"\u81a0\u6a3d\u9032\u586b\u57cb\u00a0\u00a0 \u6e1b\u5851\u96e3\u9589\u74b0\" \/><div class=\"tl-overview-banner-text\"><div class=\"h5\">\u5a92\u9ad4\u5831\u5c0e<\/div><p>\u95dc\u65bc\u5b78\u9662\u7684\u6700\u65b0\u6d88\u606f\uff0c\u4ee5\u53ca\u6559\u8077\u54e1\u7684\u89c0\u9ede\u3002<\/p>\n<\/div><\/a><\/div><div class='blog-posts'><div class='container-grid row blog_columns-4 blog-style-standard'><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/stablecoins-from-issuance-race-to-network-battle\/\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/264821\/2026.07.22-HKEJ-social-media-visual-680x440-c.png\" class=\"attachment-event-thumbnail\" alt=\"\u7a69\u5b9a\u5e63\u5e02\u5834\u7af6\u722d\u5f9e\u767c\u884c\u8f49\u5411\u5efa\u7db2\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/stablecoins-from-issuance-race-to-network-battle\/\" class=\"blog-post_feature-link\">\u7a69\u5b9a\u5e63\u5e02\u5834\u7af6\u722d\u5f9e\u767c\u884c\u8f49\u5411\u5efa\u7db2<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/xiang-fang\/\">Prof. Xiang FANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><a href=\"https:\/\/www.hkubs.hku.hk\/people\/yang-liu\/\">Prof. Yang LIU<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><a href=\"https:\/\/www.hkubs.hku.hk\/people\/haonan-zhou\/\">Prof. Haonan ZHOU<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\">\u96a8\u7740\u5168\u7403\u8ca8\u5e63\u6578\u5b57\u5316\u767c\u5c55\u65e5\u8da8\u6210\u719f\uff0c\u7a69\u5b9a\u5e63\u5e02\u5834\u6b63\u919e\u91c0\u4e00\u9805\u610f\u7fa9\u91cd\u5927\u7684\u65b0\u52d5\u5411\u3002\u64da\u5831\u9053\uff0cVisa\u3001Stripe\u7b49\u903e\u767e\u5bb6\u91d1\u878d\u8207\u79d1\u6280\u6a5f\u69cb\u806f\u624b\u7d44\u6210 Open Standard \u806f\u76df\uff0c\u9810\u8a08\u65bc\u5e74\u5167\u63a8\u51fa\u7f8e\u5143\u7a69\u5b9a\u5e63 Open USD\u3002<\/div><div class=\"blog-post_datetime\">22 Jul 2026<\/div><div class=\"blog-post_category\">\u6559\u5b78\u4eba\u54e1<\/div><\/div><\/div><\/div><\/div><div class='wgl_col-4 item fadeInUp animated' data-animate='fadeInUp' data-order=0><div class='blog-post format-gallery'><div class=\"blog-post_wrapper\"><div class=\"blog-post_media\"><div class=\"blog-post_media_part\"><span><a href=\"https:\/\/www.scmp.com\/video\/hong-kong\/3361004\/how-can-hong-kongs-service-sector-win-residents-back-mainland\" class=\"blog-post_feature-link \"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"440\" src=\"https:\/\/www.hkubs.hku.hk\/wp-content\/uploads\/fly-images\/264616\/2026.07.22-SCMP_Prof.-Heiwai-Tang-scaled-680x440-c.jpg\" class=\"attachment-event-thumbnail\" alt=\"\u9999\u6e2f\u670d\u52d9\u696d\u5982\u4f55\u91cd\u596a\u6e2f\u4eba\u9752\u775e\uff1f\" \/><\/a><\/span><\/div><\/div><div class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.scmp.com\/video\/hong-kong\/3361004\/how-can-hong-kongs-service-sector-win-residents-back-mainland\" class=\"blog-post_feature-link\">\u9999\u6e2f\u670d\u52d9\u696d\u5982\u4f55\u91cd\u596a\u6e2f\u4eba\u9752\u775e\uff1f<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/heiwai-tang\/\">Prof. Heiwai TANG<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div class=\"article-content\"><\/div><div class=\"blog-post_datetime\">19 Jul 2026<\/div><div class=\"blog-post_category\">\u6559\u5b78\u4eba\u54e1<\/div><hr class='article-divider'><div class='article-links'><div class=\"links\"><i class=\"flaticon flaticon-next link-arrow\"><\/i><a href=\"https:\/\/www.scmp.com\/video\/hong-kong\/3361004\/how-can-hong-kongs-service-sector-win-residents-back-mainland\">\u5357\u83ef\u65e9\u5831 - \u5831\u5c0e 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class=\"blog-post_content\"><div class=\"blog-post_title\"><a href=\"https:\/\/www.bbc.com\/zhongwen\/articles\/cy0jnwzx5dzo\/simp\" class=\"blog-post_feature-link\">\u70ba\u751a\u9ebc\u6253\u8d0f\u4e86\u5b98\u53f8\uff0c\u537b\u8f38\u4e86\u8f3f\u8ad6\uff1f<\/a><\/div><div class=\"thought-leadership-item_researcher\"><a href=\"https:\/\/www.hkubs.hku.hk\/people\/xi-li\/\">Prof. Xi LI<i class=\"flaticon flaticon-next author-arrow\"><\/i><\/a><\/div><div 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