NEWS & INSIGHT
MEETING THE CHALLENGES OF AGEING POPULATIONS COUNTRY: Hong Kong / China SCHOOL: The Chinese University of Hong Kong (CUHK) Business School Ageing populations in developed countries is a complex problem, revolving around the need to support larger numbers from the older generations in countries with smaller numbers of working-age people. Japan – with a third of its population over the age of 65 – has the oldest population in the world, according to the World Economic Forum. In Niger, by comparison, almost half of the population is below the age of 15, making it the youngest country in the world. Researchers from the Department of Finance at The Chinese University of Hong Kong (CUHK) Business School, led by Professor Wai-sum Chan, have spent the past decade looking for creative solutions to the problems facing countries with a disproportionately older population. This is pertinent challenge for Hong Kong, which has one of the world’s longest life expectancies at birth. Their findings revolve around innovations in financial policies and products. One such initiative is the reverse mortgage, which can provide financial security for the older population – particularly in the context of Hong Kong’s soaring house prices in recent decades. Their research has also contributed to the introduction of public annuities as another means of receiving regular and lifelong payments after retirement. Introduced into Hong Kong as the HKMC Annuity Plan in 2018, this has been an important measure as Hong Kong’s existing annuity systems were significantly underdeveloped. Another model they have developed is a way for private insurers to design long-term care insurance products, thereby putting less pressure on public providers. Real-world applications of the CUHK research certainly aren’t limited to Hong Kong. The idea is that the teams’ findings can be used as a basis on which governments and policymakers across the world can create platforms that support the future health and economic prosperity of their citizens. / EB
EAST-WEST RELATIONSHIP STRENGTHENED WITH NEW PROGRAMMES COUNTRY: China SCHOOL: Peking University HSBC Business School The launch of two new programmes – an executive MBA and a master’s/certificate programme – marks the further development of Peking University HSBC Business School’s collaborative relationship with the University of Cambridge Judge Business School. The Shenzen home of Peking University HSBC Business School (PHBS) will be the location for up to 50% of teaching on a new global executive MBA (GEMBA) offered by Cambridge Judge, and taught by its faculty and guest lecturers. Targeting executives in Asia-Pacific, the GEMBA will carry the same curriculum as the UK School’s existing EMBA. Launched in 2009, the Cambridge EMBA runs for 20 months using a format which combines weekend study and a handful of week-long blocks. At the same time, PHBS is to launch a new master’s/ certificate programme in China Studies for Economics and Management (MCS/CCS) that will offer GEMBA participants – and others – a deep dive into China’s economy, financial market, and corporate management. The Founding Dean of Peking University HSBC Business School, Hai Wen, called the two new programmes ‘a rare opportunity to learn from two top Business Schools representing the East and the West. Students will acquire a deeper understanding of core knowledge and gain first-hand experience of contemporary business environments in China.’ Cambridge Judge’s outgoing Dean, Christoph Loch, described the GEMBA as ‘a great opportunity for experienced professionals based in the Asia-Pacific region, and beyond, especially as they will also have the opportunity to participate in China studies with our partner Peking University HSBC Business School.’ The relationship between the two Schools is longstanding. In 2019, they signed a memorandum of understanding to jointly expand collaboration in a number of fields including business, entrepreneurship and AI. The following year, their collaboration grew with the launch of two executive education programmes focusing on innovation and international management. / TBD
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AMBITION | Be in Brilliant Company
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