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Sun Hung Kai Properties and Chinese University invite Nobel laureate in economics
SHKP Executive Director Michael Wong said: ¡§We at Sun Hung Kai Properties believe wholeheartedly in Hong Kong¡¦s future, and we think that life-long learning is crucial to personal development and maintaining the territory¡¦s competitive edge in an era of increasing globalization. Our goal in presenting these lectures in collaboration with The Chinese University of Hong Kong is to raise the level of academic discourse in the territory and stimulate a sense of inquiry; not only among scholars and the elite, but also among the general public.¡¨ CUHK Vice-Chancellor Lawrence J Lau said: ¡§We also hope to demonstrate the University¡¦s strong commitment to serving the Hong Kong community with this lecture series. As Hong Kong strives to consolidate its position as a leading international financial hub in the Asia-Pacific region, today¡¦s lecture cannot be more relevant.¡¨ Professor Scholes explained how financial innovation affects the way corporations, asset managers and governments operate, relating change to the growth of alternative asset managers and risk-management techniques. Business and community leaders, representatives from the financial sector, government officials, academics, CUHK students and alumni, secondary school students and members of the general public attended. The advance free tickets offered to the public were all taken on the first day of distribution. Professor Scholes is widely known for his seminal work on options pricing, capital markets, tax policies and the financial services industry. He co-developed the Black-Scholes options pricing model, which is the basis of pricing and risk-management technology used around the world to evaluate financial instruments. In the lecture, he said that financial innovation is a means to create economic prosperity. It includes online transactions, personal banking services, and other new financial products. They can help investors lower transaction cost and use resources more effectively, thus increase profits and enhance prosperity. This was the fourth lecture since the series began in 2004. Nobel laureates in any of the fields of Physics, Chemistry, Physiology and Medicine, Literature, Peace and Economic Sciences are invited to Hong Kong to deliver public lectures and promote discovery, professional and entrepreneurial expertise, scholarly pursuits and contributions to humanity and society. The lecturers in the first two instalments of the series were world-renowned economists, and the third an expert in microbiology. |