China Business and Economics
China’s spectacular growth over the past 35 years has seemingly defied the conventional wisdom that economic institutions, such as private property rights and independent legal bodies, are fundamental to economic growth. There is still much to learn about the causes and effects of China’s growth and HKU is well-placed to lead the way.
The China Business and Economics SRT considers big questions of interest to businesses, academics, governments and organisations around the world: What are the mechanisms underpinning China's economic growth and the reform and development of its sectors and regions? And what are the implications of these for business strategy?
The SRT team, with members drawn from the Faculties of Business and Economics, Law and Social Sciences, is considering these issues in three key areas of China's development. The first relates to the country's economic institutions, firm strategy and economic performance. They will investigate China's market economy model and examine such topics as the role of government in the economy, the continuing dominance and role of state ownership, and the nature of state capitalism.
Second is the reform of China's financial sector, which has traditionally provided low-cost capital to the state sector at the expense of the private sector. Researchers will look at the impacts on growth and stability of the liberalisation of interest rates, exchange rates and capital accounts, and the internationalisation of the RMB.
And third is China's urbanisation and industrial transformation, in particular local protectionism, regional economic institutions, the urbanisation drive, and industrial upgrading. These matters will also be studied by the team.
The SRT team's ultimate aim is to not only provide insights on China's economy but also strengthen Hong Kong's competitiveness. Team members have a strong track record in their field, including securing funding for an Area of Excellence project (now completed) for the Hong Kong Institute of Economics and Business Strategy.
Related major work at the University includes a Theme-based Research Scheme project on 'Enhancing Hong Kong's Future as a Leading International Finance Centre'.
There is increasing and significant interest in understanding the Chinese economy and its implications for business strategy. Our aim is to make HKU one of the world’s leading centres of research on China business and economics and by doing so, contribute to the long-term competitiveness of Hong Kong’s economy.
Professor Z. Tao, Convenor