Inaugural Conference features donor Dr James M. Stone, and leading global scholars to address one of Asia's most critical challenges
The University of Hong Kong (HKU) announced the establishment of the James M. and Cathleen D. Stone Center on Socio-Economic Inequality in Asia on 4 December, made possible by a landmark US$5 million donation from the US-based James M. and Cathleen D. Stone Foundation. HKU is now the first university in Asia to host a Stone Center, joining a prestigious global network of 13 such centres dedicated to studying wealth inequality.
The launch was marked by an inaugural ceremony and conference attended by distinguished academic leaders, and the donor, Dr James M. Stone. Jointly housed by HKU's Faculty of Business and Economics and the Faculty of Social Sciences, The Center is poised to become a global research hub dedicated to understanding the root causes of inequality in Asia and developing evidence-based, actionable solutions.
The inaugural ceremony was officiated by Dr James M. Stone, Founder of the Stone Foundation; and Professor Xiang Zhang, President and Vice-Chancellor of HKU.
In his welcoming remarks, President Xiang Zhang highlighted the Center's alignment with the University's mission. "As a leading global university, HKU has a fundamental duty to contribute to this mission. The establishment of this Centre embodies our pledge to academic excellence, innovation, and social responsibility."
Dr James M. Stone, whose foundation is a leading philanthropic organisation known for promoting equity and addressing systemic challenges, shared his vision for the new Center. "Balancing the benefits of rewarding entrepreneurship against the pernicious harms of limitless wealth concentration has become a serious challenge for all nations. Developing a wise policy roadmap will require the best minds we can muster. Cathy and I are thrilled to welcome this next impressive team to the task."
Elaborating on the Center's future direction, Professor Uta Schönberg announced one of its first flagship initiatives. Professor Schönberg said, "We are deeply committed to understanding the nature, causes, and consequences of socio-economic inequality in the Asian context, comparing these with those in North America and Europe, and identifying strategies to mitigate their adverse impacts on society."
The inauguration was followed by a high-level conference, featuring keynote speeches by two of the world's foremost experts on inequality: Professor Steven Durlauf of the University of Chicago and Professor Fabian Pfeffer of LMU Munich. The conference also included panel discussions on promoting equal opportunities and achieving inclusive growth, convening leading scholars from HKU, The University of California San Diego, The University of Tokyo, and Shanghai Jiao Tong University.
About The James M. and Cathleen D. Stone Center on Socio-Economic Inequality in Asia (SCoSEIA)
The James M. and Cathleen D. Stone Center on Socio-Economic Inequality in Asia (SCoSEIA) at HKU is a leading interdisciplinary research center dedicated to understanding and addressing the causes, mechanisms, and consequences of inequality in Asia. Jointly established by the Faculty of Business and Economics and the Faculty of Social Sciences, the Center's mission is to produce cutting-edge, evidence-based research to inform public policy and discourse. Led by Co-Directors Professor Tarani Chandola, Professor Uta Schönberg, and Professor Ming Wen, SCoSEIA focuses on key themes including wealth creation, the impact of economic policies, and the socio-political effects of wealth concentration.
