The Asset Management and Cross-Border Investment Module for Cohort 2 of the Doctor of Business Administration Program, jointly offered by Hong Kong Business School and Josai International University, was held in Hong Kong on November 8–9, 2025. The course was taught by renowned scholars and experts in the fields of economics and finance, offering international perspectives, cutting-edge knowledge, intellectual convergence, and diverse viewpoints. The rich variety of topics, timely relevance, and distinctive teaching styles provided students with invaluable insights, enabling a more systematic, in-depth, and broader understanding of global capital markets.

Dr. Jiang Guorong, Doctoral Supervisor of Hong Kong Business School, Senior Advisor at Gaoling Investment, and seasoned financier, delivered an insightful lecture on "Practical Aspects of Overseas Equity Financing for China’s New Economy Companies." Drawing on over three decades of experience in international investment banking and financial practice, Dr. Jiang systematically elaborated on the pivotal role and development prospects of Hong Kong in facilitating international financing for Chinese enterprises. When comparing major global capital markets, Dr. Jiang provided a detailed analysis of the differences between A-shares, Hong Kong stocks, and U.S. stocks. He emphasized that Hong Kong, with its unique institutional advantages and internationalized market environment, is indispensable for Chinese companies "going global." From the strategic significance of listing, he pointed out that by listing in Hong Kong, enterprises can achieve diversified financing, optimize shareholder structures, enhance corporate governance standards, strengthen brand influence, and provide efficient channels for employee incentives and shareholder exits. Dr. Jiang further highlighted the robust recovery of Hong Kong's IPO market from January to October 2025, with fundraising exceeding HKD 210 billion, a year-on-year increase of over 200%. He emphasized that Hong Kong is reshaping itself into a resilient and competitive international financial center amid a new wave of global adjustments, with its role as a "super connector" between China and global capital continuously strengthening.

Ms. Zhang Li, Doctoral Supervisor of Hong Kong Business School, Permanent Honorary Chairman of the Hong Kong Chinese Financial Association, seasoned banker, and Justice of the Peace, provided an in-depth sharing on "Preemptive Compliance Perspectives in Cross-Border Global Expansion." Leveraging over 30 years of practical experience in financial institutions, Ms. Zhang systematically elaborated on the core principles of compliance management. She noted that compliance has transcended mere legal obligations to become the foundation for the survival and growth of financial institutions. By analyzing the "dual-line responsibilities" of compliance officers and the five core functions of compliance departments, she transformed abstract concepts into actionable management practices. Creatively proposing a "Three-Dimensional Compliance Perspective," Ms. Zhang addressed the challenges faced by Chinese financial institutions expanding globally. In the spatial dimension, she suggested resolving regulatory conflicts through a dual-track structure of "branches + subsidiaries." In the temporal dimension, she emphasized the need for counter-cyclical compliance preparedness. In the cultural dimension, she highlighted the importance of recognizing cultural differences between Hong Kong and mainland staff, cautioning against the direct application of mainland management practices. Ms. Zhang also pointed out that compliance management is undergoing a value transformation, with卓越 compliance capabilities shifting from a cost center to a core competitiveness, directly impacting market access, client trust, and business sustainability.

Dr. Yao Yudong, Doctoral Supervisor of Hong Kong Business School, Vice President and Chief Economist of Da Cheng Fund, delivered a lecture on "Macroeconomic Outlook Under Tri-body Economics." Starting from the laws of cosmic physics, Dr. Yao reinterpreted the evolutionary path of human economies from primitive societies to interstellar civilizations. Based on the three pillars of "Endogenous Division of Labor Theory," "Transaction Entropy Increase Theory," and "New Monetary Theory," Dr. Yao constructed "Tri-body Economics." He pointed out that the deepening of social division of labor is the fundamental driver of economic system evolution and explained that wealth polarization is an inevitable outcome of "entropy increase" in economic systems. He proposed that "rational bubbles" are essential tools for attracting capital to innovative fields and overcoming overcapacity, and suggested that the world is currently at the dawn of the recovery phase of the sixth Kondratiev cycle (centered on artificial intelligence and new energy), with "Xiao Deng assets" driven by new technologies gradually rising. Looking ahead to China’s opportunities, Dr. Yao expressed optimism about the sustainability of a "Chinese-style slow bull" market. He believes that under the guidance of the 15th Five-Year Plan for technological innovation, the A-share market is supported by policy, capital, and profitability. Additionally, gold holds long-term allocation value amid global uncontrolled debt.

The content of this Hong Kong course was detailed and forward-looking, providing students with valuable practical references and strategic inspiration, empowering them to gain a competitive edge in the era of globalization. For detailed updates on the course, please stay tuned to Hong Kong Business School’s WeChat official account and video channel.