Three prominent economists graced the inauguration of the Institute of Global Economics and Finance (IGEF) of The Chinese University of Hong Kong (CUHK) on 21 June 2010 by giving inaugural lectures. Professor Lawrence J. Lau, Vice-Chancellor cum Ralph and Claire Landau Professor of Economics of CUHK, talked about the role of Hong Kong as the financial centre of China, East Asia and the world. Another speaker, Professor Joseph Yam, Distinguished Research Fellow of IGEF, shared his views on the Renminbi offshore market in Hong Kong. Professor Robert A. Mundell, 1999 Nobel Laureate in Economic Sciences and Distinguished Professor-at-Large, CUHK also addressed the audience at the lecture on the evolution of the international monetary system. The first academic activity of the newly established Institute, the inaugural lectures shed light on new developments and ideas in global economics and finance, with a particular focus on China and Hong Kong. The event drew over 80 high-level professionals and executives from the finance and banking sectors as well as government agencies.
The Founding Director of the Institute, Professor Liu Pak-wai, who is also Professor of Economics and former Pro-Vice-Chancellor of CUHK, thanked China Development Bank, Henderson Land Development Company Limited, Sun Hung Kai Properties Ltd., HSBC and Dr. Vincent Cheng for their staunch support for the establishment of the Institute. Professor Liu said at the inauguration ceremony, ‘Our location away from the epicentre of the financial tsunami gives us a vantage point in looking at the post-crisis international financial system which could be different from that of the U.S. It is high time for academics and policy-makers in Asia to take stock and re-examine our assumptions and position on global finance from a regional perspective. One of the missions of the Institute of Global Economics and Finance is to contribute conceptual and policy ideas on global economics and finance, with an emphasis on the liberalization of China’s financial system after the financial crisis and the role of Hong Kong in the process.’