News
Prof. Gavin Feng Appointed Associate Editor at Management Science
27 Feb, 2026
Prof. Gavin Feng, a Finance and Statistics professor and Director of FBAC, has joined Management Science as an Associate Editor in the Finance department. This role highlights his work in FinTech and AI Finance, including research coauthored with FBAC members.
Management Science is the flagship journal of INFORMS and is widely considered one of the most prestigious business journals globally. It is a top-tier publication featured on the elite UTD 24 and FT 50 lists. The journal is known for its high standards and for publishing groundbreaking research that influences both theory and practice. Its Finance department is highly respected, serving as a key platform for new ideas that advance the field of financial economics and academic excellence.
In this role, Prof. Feng will advance research in asset pricing and financial machine learning. He also serves as Associate Editor for the Journal of Financial Econometrics, Journal of Finance and Data Science, and Asia-Pacific Journal of Financial Studies.
FBAC economist and Nobel Laureate co-lead global early childhood research, benefiting over 80,000 rural children in China
5 Feb, 2026
Professor Zhou Jin
CityUHK economist Professor Zhou Jin, Assistant Professor in the Department of Economics and Finance and Member of FBAC, together with Professor James Heckman, a Nobel Laureate in Economic Sciences, are jointly leading the early childhood research programme China REACH: The Rural Education and Child Health Project (China REACH). Professor Heckman is the Distinguished Visiting Professor at CityUHK and the Director of the Center for the Economics of Human Development at the University of Chicago.
Focusing on the critical developmental stage from birth to three years of age, the research has found that enhancing the quality of interaction between caregivers and children can significantly improve children’s cognitive, language and socio-emotional skills. The programme provides a practical, evidence-based framework for reducing educational disparities among rural children. To date, more than 80,000 rural children across diverse regions of China have benefited from the initiative.
The research has been widely recognised by the international academic community. The study has been published in leading economics and child development journals, including the Journal of Political Economy, the Journal of Labor Economics, and the Journal of Econometrics and Pediatrics, providing important theoretical and empirical references for early childhood development policies worldwide.
Professor Zhou noted, “The China REACH model is now recognised as a proven strategy for promoting high-quality development for rural children. Through rigorous empirical research, we aim to identify early childhood interventions that truly support children’s development and implement them at the community level, so that children in both rural villages and urban settings have equitable opportunities to develop their potential and capabilities, laying the foundation for a more inclusive and sustainable society.”
Looking ahead, the research team is exploring how the China REACH framework can be adapted to urban settings. The first pilot programme will be launched in Hangzhou, where the team will further refine early childhood education interventions to meet the needs of families in developed urban environments.
Link of CityUHK News: https://www.cityu.edu.hk/media/news/2026/02/05/microdynamics-of-early-childhood-learning
FBAC researchers launch AI Model for smarter portfolio management
29 Jan, 2026
Prof. Gavin Feng (Director of FBAC) and Prof. Jingyu He (Assosicate Director of FBAC) have developed a data-driven machine learning model for financial asset pricing. Designed to be clearer and more efficient than traditional methods, the “P-Trees” model helps investors make better-informed decisions by simplifying complex market data.
The study, “Growing the efficient frontier on panel trees,” was published in the Journal of Financial Economics, a top-tier publication in the field. The research team, led by Professor Feng and Professor He, utilised AI to improve both the predictive accuracy and the interpretability of portfolio construction. “Our research suggests that investors should diversify across different asset types and sectors to manage risk effectively,” said Professor Feng. “With the P-Trees model, various factors can be analysed quickly to provide a clear view of potential risks and rewards.” Following his work in AI finance, Professor Feng was recently elected as a research fellow at the Asian Bureau of Financial and Economic Research (ABFER).
A key feature of the model is its ability to adapt to changing economic conditions. This allows investors to adjust their strategies in real-time, helping them stay ahead of market trends through a
structured analysis of asset performance. Professor He noted that the model’s benefits extend beyond institutional use. “We believe P-Trees can change how portfolios are managed, benefiting both financial experts and everyday investors,” He said. “It is a tool that helps people make more informed decisions when building their portfolios.”
The research offers a critical takeaway for students and professionals navigating the shift toward AI and big data: future competitiveness in finance depends on the ability to blend advanced machine learning with sound economic theory. The researchers believe P-Trees serves as a practical guide for the next generation of talent, demonstrating that even as decision-making becomes more automated, the most effective strategies are those that remain transparent, interpretable, and grounded in human insight.
Link of CityUHK News: https://www.cityu.edu.hk/media/news/2026/01/29/ai-model-for-smarter-portfolio-management
2nd CityU Workshop in Econometrics and Statistics Successfully Held at CityU
10 Jan, 2026
The 2026 CityU Workshop in Econometrics and Statistics, jointly organized by the FinTech and Business Analytics Centre, the Department of Decision Analytics and Operations, and the Department of Economics and Finance, was successfully held on 8–9 January 2026 at City University of Hong Kong. The workshop marks the second edition of the series following its inaugural event in 2019.
This year’s program featured two keynote speakers: Professor Jianqing Fan from Princeton University and Professor Xuming He from Washington University in St. Louis, whose keynote lectures set a strong scholarly tone for the workshop and underscored its academic rigor. In addition, the program included 24 invited talks by leading scholars such as Prof. Yundong Tu (Peking University), Prof. Xinyu Zhang (Chinese Academy of Sciences), and Prof. Giuseppe Cavaliere (University of Bologna), alongside 21 other distinguished researchers from leading institutions worldwide. The scientific sessions were chaired by eight senior scholars, including Prof. Yingying Li from HKUST.
As a principal organizing unit, FBAC played a central role in shaping the academic program and facilitating institutional engagement. Looking ahead, the Centre will continue supporting the development of high-quality academic events and strengthening its position as a platform for interdisciplinary exchange.
Prof. Gavin Feng Invited to Speak at The Bloomberg Forum for Investment Management
6 Nov, 2025
Prof. Gavin Feng, Director of FBAC, was invited to speak at The Bloomberg Forum for Investment Management, held on 5 November 2025 at Bloomberg’s Hong Kong office. The forum gathered senior professionals from leading global and regional financial institutions, including securities firms, asset managers, hedge funds and investment banks, as well as scholars and policy experts. Discussions focused on how institutional investors allocate risk in equity portfolios and on recent developments in risk model frameworks. With participation from experienced industry practitioners, the forum featured highly technical discussions and professional exchange of views.
Prof. Feng joined as a panelist in the session “Risk-Budgeting for Equity Allocation: A Blueprint for Quant & Hedge Funds,” where he shared professional insights on the evolving landscape of quantitative investing and risk-based portfolio management. Drawing on both academic research and industry practices, he discussed how systematic factors and data-driven signals can enhance portfolio efficiency, and the growing role of machine learning in constructing modern investment frameworks. Prof. Feng’s participation further reflects CityU’s and FBAC’s continued engagement in global conversations on quantitative finance and investment technology.
Prof. Gavin Feng Elected as ABFER Fellow
3 Nov, 2025
Prof. Gavin Feng, Director of FBAC, has been elected as a Fellow of the Asian Bureau of Finance and Economic Research (ABFER).
ABFER is an academic institute established by scholars from Asia, North America, and Europe. It promotes Asia-Pacific focused financial and economic research, connects leading scholars, practitioners, and policymakers, and supports the development of strong research communities across the region.
ABFER Fellowship is highly selective and internationally recognized. The institute currently has around 150 Senior Fellows and Fellows, including distinguished scholars from Harvard University, Cornell University, Yale University, Princeton University, Columbia University, and other world-leading institutions. Among these members, 4 Senior Fellows and 10 Fellows are affiliated with universities in Hong Kong. Prof. Feng is the first faculty member from City University of Hong Kong to be elected as an ABFER Fellow.
Through this fellowship, Prof. Feng will continue to engage with the international academic community and contribute to advancing research in finance and economics, further connecting CityU’s research with global dialogues on Asia-Pacific financial and economic issues.
Prof. Gavin Feng Joins the Journal of Financial Econometrics as Associate Editor
10 Oct, 2025
Prof. Gavin Feng, Associate Professor of Finance and Statistics at College of Business and Director of FBAC, has joined the editorial board of the Journal of Financial Econometrics (JFEC) as an Associate Editor.
The Journal of Financial Econometrics is published by Oxford University Press and is a leading academic journal that publishes high-quality research at the intersection of econometrics, statistics, and finance. It serves as a platform for advancing methodological and empirical developments in financial econometrics, with an increasing focus on emerging areas such as financial machine learning and high-dimensional modeling.
In his new role as Associate Editor, Prof. Feng will contribute to the advancement of high-quality research and the dissemination of innovative work in the fields of financial econometrics and financial machine learning.
4th Hong Kong Conference for FinTech, AI, and Big Data in Business Successfully Held at CityU
2 June, 2025
Jointly organized by FinTech and Business Analytics Centre, Department of Decision Analytics and Operations, Department of Economics and Finance, Hong Kong Institute for Data Science, and
Laboratory of AI-Powered Financial Technologies, the 4th Hong Kong Conference for Fintech, AI, and Big Data in Business took place on May 31 and June 1, 2025, at City University of Hong Kong.
This year’s conference brought together nearly 100 participants from leading institutions around the world. We were honored to have Professor Yacine Ait-Sahalia and Professor Wei Xiong from Princeton University as keynote speakers, whose inspiring talks offered profound perspectives and set a high academic standard for the event. The program also featured 12 paper presentations selected from over 150 submissions, covering a diverse range of emerging topics such as AI-powered finance, text analytics, portfolio optimization, and behavioral modeling. In addition, a poster session was introduced this year, fostering lively discussions and broadening academic engagement among early-career researchers.
As a key co-organizer, FBAC supported the planning and execution of the conference and continues to promote interdisciplinary research that bridges FinTech, AI, and business analytics. The Centre looks forward to contributing to future editions of this impactful academic event.
FBAC Completed Our First Talent Training Program
Jun 24, 2022
On 24 June 2022, FBAC held the award ceremony for the Fintech and Analytics Talent Training Program. During the ceremony, Prof. LI Yanzhi David, director of FBAC awarded certificates to qualified students and shared opinions regarding the aim of our program. This four-month training program was open to undergraduate students in the College of Business of the City University of Hong Kong and is intended to nurture talents and build up students' expertise in fintech and analytics. We received 281 applications and finally, 32 students successfully completed the program.
Center Members Visit Ping An Oneconnect Bank (PAOB)
Mar 5, 2021
FBAC team visited Ping An Oneconnect Bank (PAOB) on Mar 5, 2021. Mr Ryan Fung, Chief Executive of PAOB, hosted the team. PAOB is one of the virtual banks in Hong Kong with its business uniquely focused on serving business clients. Mr Fung shared with the team their latest business development. Collaboration opportunities are identified as the next move, especially on alternative credit rating under the Commercial Data Interchange (CDI) initiative by Hong Kong Monetary Authority.
Center Members Visit China Mobile Hong Kong (CMHK)
Feb 17, 2021
Center delegates (Prof David Li, Dr Gang Hao, Dr Alvin Leung, Dr Xin Li, Dr Junming Liu, Dr Huazhong Zhao) visited China Mobile Hong Kong (CMHK) on Feb 17, 2021. Dr Max Ma, Director and Executive Vice President of CMHK, along with Mr Gordon Guo (Vice Present), Joe Lian (Vice President) and Mr Daniel Qu (Assistant General Manager), discussed with the delegates about research and business opportunities emerging from 5G, big data and mobile internet. The meeting led to a few research project initiatives.