Professor Hongbin CAI, Dean and Chair of Economics, Director of the Institute of China Economy (ICE) of HKU Business School, delivers the welcoming remarks.
The 9th HKU Quarterly Forum on Chinese Economy, hosted by HKU Business School's Institute of China Economy (ICE), in partnership with the Hong Kong Alumni Association of China's Central University of Finance and Economics, was held on 29 January. This was the first Forum of the series in 2026, where renowned experts and scholars discussed breakthroughs in China's macroeconomy, key issues emerging from the development of artificial intelligence, trade and finance matters such as the renminbi exchange rate, and others. Held at HKU iCube in Central, Hong Kong, the Forum attracted an audience of more than 200 industry leaders, academic experts, alumni, and students oniste, and more than 10,000 who attended online.
Professor Hongbin CAI, Dean and Chair of Economics, Director of ICE of HKU Business School, said, "2026 begins amidst shifting global dynamics and the launch of China's 15th Five-Year Plan. This gives the HKU Quarterly Forum on Chinese Economy a renewed significance. This session focuses on navigating external disruptions and stimulating internal growth to ensure China's continued economic stability."
He further added that, "With the aim to foster open dialogue to encourage diverse perspectives and collaborative solutions, the Forum has partnered with top mainland universities in the past two years to provide deep, objective analysis of core economic issues in China. The continued success of this platform reflects the School's commitment to connecting Hong Kong, the Chinese Mainland, and the world through impactful academic research and serving the society at large."
Professor Zhenhua MAO, Professor of Practice in Economics of HKU Business School and Member of the Chief Executive's Policy Unit Expert Group, presented the keynote report titled "2026: Seeking Double Breakthroughs of China's Economy". He pointed out that while exports, high-tech manufacturing, and capital markets remain robust, domestic demand in China is weak and price indices have fallen short of expectations.
He emphasised that to drive China's economic momentum, it is crucial to strengthen domestic demand while simultaneously advancing technology to drive the Consumer Price Index (CPI). He also advocated for continued openness and accelerated global expansion to reshape China's role in the global economy. He stressed that Hong Kong should leverage its unique strengths to serve as the critical "bridgehead" for Chinese enterprises going global.
Professor Qifeng LIU, Adjunct Professor of the Hong Kong University of Science and Technology, Founding EVP of the Hong Kong Society of Artificial Intelligence and Robotics, and Founder of Wiener Intelligence, delivered a keynote titled "Seven Questions about AI".
Addressing China–U.S. competition in AI, Professor Liu said candidly that, "On open source, China's Qwen and other open-source models are leading the world. In terms of technology, the gap between China and the United States is about six months, while corporate and venture-capital investment differs by several dozen times. Feedback-driven Agentic AI technology can help resolve the current bottleneck of scarce interactive data in enterprises. Some of China's underutilised computing power can meet the computational requirements for data generation, thereby effectively unlocking industrial potential."
He further emphasised that, "China's AI industry should protect intellectual property, support open source, and oppose monopolies—this is critical to a flourishing and sustainable ecosystem across industry, academia, and research." Liu also noted that human creativity is irreplaceable, encouraging students in the AI era to shift their learning focus from "how" to "why." He added that management and linguistics will become more important than ever, as they are essential tools for humans to effectively harness Agentic AI.Top of Form
Professor Xiang FANG, Assistant Professor in Finance, HKU Business School, presented on the topic of "RMB Exchange Rate: Market Forces, Policy, and Prospects". His discussion covered the underlying drivers of RMB fluctuations, the mechanism behind the central parity rate, and future projections for the currency.
A roundtable discussion titled "External Pressures and Internal Dynamics: China's Economic and Technological Outlook 2026" was moderated by Professor Hongbin CAI. Panellists included Mr. Zhitang CHEN, President, Hong Kong Alumni Association of Central University of Finance and Economics, and Executive Vice President, Chong Hing Bank Limited; Dr. Ting LU, Chief China Economist, Nomura; Dr. Bokun NIU, Assistant President and Co-Director of Research Institute, Hua Chuang Securities; Dr. Robin XING, Managing Director and Chief Economist of China, Morgan Stanley; and Mr. Hao ZHENG, Host and Pundit at Hong Kong Phoenix Television.
The panellists discussed the appreciation potential of the RMB, Sino-US AI competition, CPI trajectory, Sino-US Relations, Digital Currency Market in Hong Kong, and other topics.
