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The Hong Kong University of Science and Technology (HKUST) recently unveiled the HKUST Institute for Financial Research, a new initiative designed to tackle complex social and economic issues through financial research and technological innovation. This institute aims to foster collaboration among academia, industry professionals, and policymakers within Hong Kong and internationally.
The Institute for Financial Research is structured around four interdisciplinary research centres, each focusing on a distinct area of financial innovation. These centres include the Center for Technological Innovations, the Center for Environmental and Social Responsibility, the Center for Wealth Management, and the Center for Macro-finance and Geo-economics. By integrating diverse disciplines and expertise, the Institute seeks to drive research that can address pressing global challenges.
An Advisory Board comprising nearly 20 distinguished experts from around the world will guide the Institute’s activities, ensuring that the research conducted is both relevant and impactful. This global platform is expected to generate practical insights that will aid industry professionals and policymakers in making more informed decisions.
The launch of the Institute was marked by a ceremony attended by several prominent figures, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government; the President of HKUST; the Provost of HKUST; the Acting Dean of Business and Management at HKUST; and the Director of the Institute and Associate Dean of Business and Management (Strategic Planning and Research) at HKUST.
The Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government emphasised Hong Kong’s strategic importance as an international financial centre and its commitment to financial innovation, particularly in emerging areas such as digital finance, fintech, and sustainable finance. He highlighted the potential for integrating traditional financial markets with advanced fintech solutions, which could unlock new opportunities for businesses and investors alike. With its leadership in both finance and technology, Hong Kong is well-positioned to become a global hub for fintech innovation. The Secretary also expressed his anticipation for the contributions the HKUST Institute for Financial Research will make in advancing the understanding of how emerging technologies can enhance the financial services sector.
The President of HKUST addressed the challenges and opportunities facing Hong Kong in the current era of global economic uncertainty. She noted the intense competition from other financial hubs in Asia, as well as the uncertainty arising from shifting geopolitical dynamics. However, she also pointed out that the rapid development of new technologies and the growing emphasis on global sustainability present new avenues for growth and innovation. The establishment of the HKUST Institute for Financial Research, she argued, is a strategic move to support Hong Kong’s ongoing efforts to maintain its status as a leading international financial centre.
The Acting Dean of Business and Management at HKUST underscored the significance of the new Institute, citing the University’s academic and research strengths as key assets in developing initiatives that can drive regional social and economic development. By engaging in collaborative research with international scholars and working closely with industry partners, regulators, and other stakeholders, the Institute aims to leverage emerging technologies such as artificial intelligence (AI), blockchain, and data science to empower financial innovation.
The Director of the Institute argued that the increasingly complex economic environment renders traditional financial research methodologies inadequate for addressing today’s societal challenges. Therefore, an interdisciplinary approach, drawing on fields such as statistics, environmental science, information systems, political science, and social psychology, is essential for conducting meaningful research. This interdisciplinary framework forms the core of the Institute’s research and innovation efforts.
The launch of the Institute was further highlighted by an inaugural summit themed “A New Era of Global Finance: Challenges, Opportunities, and Innovation.” This event brought together around 200 government officials, business leaders, industry experts, alumni, and academics. Keynote speeches on the Chinese and Indian economies were delivered by esteemed economists, while the summit also featured in-depth discussions in two Frontier Dialogue Sessions. These sessions addressed current issues related to technology, financial development, and sustainable development, with insights provided by experts from various sectors. The discussions underscored the critical role of technological innovation in shaping the future of global finance.
