Achievements

Xingwang Qian, professor of business, economics, and public administration, presented “The Global Financial Cycle and High-Frequency RMB Exchange Rate Dynamics,” at the 15th Annual International Conference on the Chinese Economy, with discussion led by Sally Chen (IMF) and Mikael Juselius (BIS).

Against a backdrop of slower property activity, shifting growth targets, and tighter global financial conditions, the 15th Annual International Conference on the Chinese Economy convened a heavyweight roster of voices from top universities, international institutions, and global banks, underscoring the event’s policy relevance and market impact. Hosted at the Hong Kong Monetary Authority with bilingual proceedings, the two-day program (October 14–15, 2025) featured opening remarks by HKMA Chief Executive Eddie Yue and a keynote by Princeton’s Wei Xiong.

With speakers spanning academia (Princeton, HKU, CUHK), key policy institutions (HKMA, IMF, BIS), and frontline market houses (Goldman Sachs, Nomura), the conference offered a rare, real-time dialogue between research, policy, and practice. Dr. Qian’s presentation, that quantifies how the global financial cycle conditions the RMB’s response to macro news, fits squarely into that conversation, bridging microstructure and macro policy at a moment when China’s growth model and financial openness are under intensified scrutiny.

One takeaway stood out from the conference: rigorous evidence and cross-sector engagement are indispensable for navigating China’s next policy chapter and its global market spillovers. The conference attracted attention from China’s top Economic Council in Beijing soliciting for policy suggestions.