Heiwai Tang - Economic Analysis 鄧希煒經濟分析

24/09/2026

Redefining Hong Kong’s Role in Re-globalisation

In an interview with Phoenix TV, Prof. Heiwai Tang, Associate Dean of HKU Business School, described Hong Kong’s First Five-Year Plan as a plan with Hong Kong style, noting that it sets out pragmatic and clear KPIs. He believes Hong Kong needs a longer-term vision and more proactive economic development strategy, while strengthening its economic integration with the Greater Bay Area to foster more diversified, dynamic, and inclusive growth.

Prof. Tang noted that the global economy is being reshaped and is undergoing a process of “re-globalisation,” creating opportunities for industrial upgrading and transformation in emerging economies such as ASEAN countries and Central Asia. As a super value-adder, Hong Kong must also redefine its role and become even more international.

While Hong Kong possesses strong soft-power advantages in IP, it is crucial to build a comprehensive IP ecosystem and cultivate professionals across different disciplines. Through these efforts, he believes Hong Kong can gradually establish itself as a leading IP hub.

For details, view interview with Phoenix TV (Chinese only):
https://www.fengshows.com/article/3dab8f79-e5f6-47e6-a753-55e4159ffbf2



再全球化下的香港新定位

香港首份五年規劃上週出爐，港大經管學院副院長鄧希煒教授接受《鳳凰衛視》訪問時形容，這是一份「具香港特色的五年規劃」，提出務實及清晰的KPI。他認為，香港需要有長遠視野及較進取的經濟規劃，加強與大灣區經濟體的銜接，以創造多元化、有活力及具包容性的經濟發展。

鄧教授認為全球經濟架構正轉型、經歷「再全球化」，如東盟國家、中亞等新興經濟體亦經歷產業升級轉型的機會。作為超級增值人，香港亦需要改變自身的定位，「做到更加國際化」，包括需要強化供應鏈的韌性、提供專業服務協助企業出海，甚至打造成全球南方人才的聚集地。

在發展知識產權 (IP)貿易，鄧教授指出香港在這方面具備軟實力，但卻缺乏機制帶動新的經濟活動。他指推動IP發展不能單靠一個政府部門，而是需要打造完整的IP生態圈，培訓法律、保險、文創等不同領域的專業人才，「香港可以一步一步成為IP中心」。

詳情請看《Phoenix TV 鳳凰衛視》訪問：
https://www.fengshows.com/article/3dab8f79-e5f6-47e6-a753-55e4159ffbf2

#港大經管學院 #香港五年規劃 #香港經濟 #大灣區 #超級增值人 #知識產權 Heiwai Tang - Economic Analysis 鄧希煒經濟分析 Asia Global Institute

21/09/2026

02/09/2026

When Chinese firms venture overseas (Chuhai / 出海), traditional risk indices often miss the mark. Standard frameworks evaluate host markets based on advanced-economy multinationals—overlooking the distinct institutional, regulatory, and political-economy dynamics that Chinese enterprises actually face.

The research team (in particular RAs Ruotong Li, Guanzheng Sun, and Jason Song) at Asia Global Institute and I, in the latest Geoeconomic Dynamics Update introduces the Chinese enterprise sector-destination investment risk index. Mapping 165 host markets across 10 key sectors, this research provides a tailored blueprint for navigating an increasingly fragmented global trade landscape.

Key insights:
1. 𝗥𝗶𝘀𝗸 𝗶𝘀 𝗱𝘆𝗻𝗮𝗺𝗶𝗰, 𝗻𝗼𝘁 𝗮𝗯𝘀𝗼𝗹𝘂𝘁𝗲: The same host market presents wildly different risk profiles depending on whether you are in Electric Vehicles, Finance, or E-commerce.

2. 𝗠𝗮𝗿𝗸𝗲𝘁-𝗮𝗰𝗰𝗲𝘀𝘀 𝗼𝘃𝗲𝗿 𝗰𝗼𝘀𝘁-𝗰𝘂𝘁𝘁𝗶𝗻𝗴: Outbound investment is no longer just about seeking cheap labor—it’s driven by the need to bypass tariff walls, satisfy local-content requirements, and build resilience inside regional trade blocs.

3. 𝗙𝗶𝘃𝗲 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝗿𝗶𝘀𝗸 𝗽𝗶𝗹𝗹𝗮𝗿𝘀: Quantifying risks across operational feasibility, cultural distance, regulatory compliance, macro-financial stability, and geopolitical exposure.

Whether analyzing EV supply chains in Europe or manufacturing shifts across ASEAN, understanding sector-specific vulnerability is crucial for long-term localization and growth.

𝗔𝗿𝗲 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗲𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲𝘀 𝗺𝗲𝗮𝘀𝘂𝗿𝗶𝗻𝗴 𝗼𝘂𝘁𝗯𝗼𝘂𝗻𝗱 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗿𝗶𝘀𝗸 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝘁𝗼𝗼𝗹𝘀? 🌐📉

When Chinese firms venture overseas (Chuhai / 出海), traditional risk indices often miss the mark. Standard frameworks evaluate host markets based on advanced-economy multinationals—overlooking the distinct institutional, regulatory, and political-economy dynamics that Chinese enterprises actually face.

Led by AGI Director Heiwai Tang, along with Research Assistants Ruotong Li and Guanzheng Sun, and Student Research Assistant Jason Song, this latest Geoeconomic Dynamics Update introduces the Chinese enterprise sector-destination investment risk index. Mapping 165 host markets across 10 key sectors, this research provides a tailored blueprint for navigating an increasingly fragmented global trade landscape. Key insights include:

• 𝗥𝗶𝘀𝗸 𝗶𝘀 𝗱𝘆𝗻𝗮𝗺𝗶𝗰, 𝗻𝗼𝘁 𝗮𝗯𝘀𝗼𝗹𝘂𝘁𝗲: The same host market presents wildly different risk profiles depending on whether you are in Electric Vehicles, Finance, or E-commerce.
• 𝗠𝗮𝗿𝗸𝗲𝘁-𝗮𝗰𝗰𝗲𝘀𝘀 𝗼𝘃𝗲𝗿 𝗰𝗼𝘀𝘁-𝗰𝘂𝘁𝘁𝗶𝗻𝗴: Outbound investment is no longer just about seeking cheap labor—it’s driven by the need to bypass tariff walls, satisfy local-content requirements, and build resilience inside regional trade blocs.
• 𝗙𝗶𝘃𝗲 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝗿𝗶𝘀𝗸 𝗽𝗶𝗹𝗹𝗮𝗿𝘀: Quantifying risks across operational feasibility, cultural distance, regulatory compliance, macro-financial stability, and geopolitical exposure.

Whether analyzing EV supply chains in Europe or manufacturing shifts across ASEAN, understanding sector-specific vulnerability is crucial for long-term localization and growth.

📖 Read the full analysis and explore the risk index:
https://www.asiaglobalinstitute.hku.hk/geo-news/chuhai-mapping-risks-chinese-outbound-foreign-investment

28/08/2026

🚀 𝗘𝘅𝗽𝗹𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗧𝗿𝗮𝗱𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲

At the APEC Study Center Consortium Conference held in Dalian, China on August 23, David Daigneault and Guanzheng Sun, AGI Research Assistants, presented a working paper titled "𝘈 𝘊𝘰𝘮𝘱𝘢𝘳𝘢𝘵𝘪𝘷𝘦 𝘚𝘵𝘶𝘥𝘺 𝘰𝘯 𝘋𝘪𝘨𝘪𝘵𝘢𝘭 𝘚𝘦𝘳𝘷𝘪𝘤𝘦𝘴 𝘛𝘳𝘢𝘥𝘦 𝘙𝘶𝘭𝘦𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘈𝘗𝘌𝘊 𝘙𝘦𝘨𝘪𝘰𝘯." The paper was co-authored with Heiwai Tang, AGI Director.

Their research touched on several macro-level themes driving digital trade discussion today:

• 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗧𝗿𝗮𝗱𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲: How modern trade agreements are incorporating data flow, e-commerce, and digital service commitments.
• 𝗥𝗲𝗱𝘂𝗰𝗶𝗻𝗴 𝗙𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻: The importance of regulatory coherence and interoperability in supporting cross-border service trade across diverse economies.
• 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻: The role of regional frameworks like APEC in building consensus and facilitating digital connectivity for businesses of all sizes.

While the paper remains a work in progress, we look forward to sharing more insights upon its official release!

30/06/2026

題目：五年規劃、產業發展、知識產權

日期：28/06/2026 嘉賓：香港大學經管學院副院長鄧希煒 主持：黃健臻 題目：五年規劃、產業發展、知識產

25/06/2026

Heiwai Tang, AGI Director, was recently featured on CNN discussing the rapid global expansion of Chinese brands like Shein and Pop Mart. Tang breaks down the three key drivers behind this global push: the natural maturation of highly productive Chinese firms, domestic economic challenges pushing brands to seek less saturated markets, and geopolitical factors like tariffs that encourage companies to establish overseas hubs. With overseas revenue for mainland-listed firms hitting a record $1.8 trillion USD, it is clear that the global retail landscape is shifting.

Check out the video: https://www.cnn.com/2026/06/23/business/video/chinese-brands-digvid-mpa-spc-hnk

18/06/2026

𝗧𝗵𝗲 𝗧𝗿𝘂𝗺𝗽-𝗫𝗶 𝗺𝗲𝗲𝘁𝗶𝗻𝗴: 𝗺𝗮𝗸𝗶𝗻𝗴 𝘁𝗿𝗮𝗱𝗲 𝘀𝗮𝗳𝗲 𝗯𝗲𝗳𝗼𝗿𝗲 𝗺𝗶𝗱𝘁𝗲𝗿𝗺 𝗲𝗹𝗲𝗰𝘁𝗶𝗼𝗻

In the recent publication of Geoeconomic Dynamics Update, Heiwai Tang, AGI Director; and Guanzheng Sun, AGI Research Assistant, examine the shifting landscape of US-China trade.

While the recent Trump-Xi meeting did not end the trans-Pacific trade dispute, it provided a practical direction for strategic trade between the two economic giants. Both governments appear motivated to keep selected trade and investment channels open ahead of the 2026 midterms, particularly in sectors where disruption carries heavy political or industrial costs.

The update highlights significant structural shifts and divergences across key sectors:

• 𝗔𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗲: US agricultural exports to China fell to just 22% of their 2022 level by 2025, with Brazil strengthening its lead in soybeans, beef, and poultry.

• 𝗖𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝗠𝗶𝗻𝗲𝗿𝗮𝗹𝘀: China’s rare earth-related exports to the US showed a clear divergence—while rare earth metals declined in 2024, exports of compounds and permanent magnets continued to grow.

• 𝗔𝗲𝗿𝗼𝘀𝗽𝗮𝗰𝗲: The competitive landscape has shifted dramatically. Boeing received only 61 orders from China and Hong Kong, China between 2019 and 2025, whereas Airbus recorded 897 orders from 2021 to 2026 YTD.

Understanding these targeted areas of decoupling and managed trade is essential for navigating today's global supply chains and geopolitical risks.

Read the full article: https://www.asiaglobalinstitute.hku.hk/geo-news/trump-xi-meeting-making-trade-safe-midterm-election

15/06/2026

Heiwai Tang, AGI Director, discusses in Financial Times Chinese on how the overseas expansion of Chinese companies, like BYD and TikTok, marks a new era of globalization. Driven by domestic market saturation, technological superiority, and cost advantages, these companies seek global markets while generating localized value to mitigate geopolitical and regulatory pressures. Unlike traditional Western or Japanese expansions, modern Chinese globalization faces complex headwinds including data security compliance and protectionist policies. Consequently, Tang advises that Chinese enterprises must adopt multi-centric governance models and foster mutually beneficial relationships with local stakeholders to ensure successful and welcomed integration into the global economy.

Read the full article: https://ftchinese.com/story/001109977 (Chinese only)

13/04/2026

In light of the escalating tensions in the Middle East and the growing global energy crisis, Heiwai Tang, AGI Director, was recently interviewed by The New York Times regarding China’s economic resilience amidst potential oil shocks. Reflecting on the geopolitical stakes, Tang noted:

"𝘊𝘩𝘪𝘯𝘢’𝘴 𝘪𝘮𝘮𝘦𝘥𝘪𝘢𝘵𝘦 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺 𝘪𝘴 𝘥𝘦𝘦𝘱𝘭𝘺 𝘵𝘪𝘦𝘥 𝘵𝘰 𝘵𝘩𝘦 𝘴𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘰𝘧 𝘵𝘩𝘦 𝘎𝘶𝘭𝘧, 𝘺𝘦𝘵 𝘪𝘵𝘴 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘥𝘪𝘷𝘦𝘳𝘴𝘪𝘧𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘴𝘶𝘣𝘴𝘵𝘢𝘯𝘵𝘪𝘢𝘭 𝘳𝘦𝘴𝘦𝘳𝘷𝘦𝘴 𝘮𝘢𝘺 𝘰𝘧𝘧𝘦𝘳 𝘢 𝘣𝘶𝘧𝘧𝘦𝘳 𝘵𝘩𝘢𝘵 𝘱𝘳𝘦𝘷𝘪𝘰𝘶𝘴 𝘥𝘦𝘤𝘢𝘥𝘦𝘴 𝘭𝘢𝘤𝘬𝘦𝘥."

This interview underscores the critical themes explored in our recent AGI publication, "The Strait of Hormuz crisis: Impact on supply chain and the financial market". As a leading think tank in public policy, we continue to analyze how these maritime disruptions ripple through global trade networks and financial systems.

Read the full article: https://bit.ly/4cuAn5L
Explore our latest research on the Strait of Hormuz: https://bit.ly/47RhZl8