Saturday, February 27, 2021

Shahla Ali on Cultural Issues in International Arbitration (updated book chapter)

"Cultural Issues in International Arbitration"in International Arbitration Practice : 21st Century Perspectives, (LexisNexis), Vol 3. Ch. 6. (2013; 2020)
Abstract: This paper addresses the theme of cultural convergence and divergence in international arbitration practice. Applying theoretical insights to unique arbitral practices in Hong Kong and Mainland China, the chapter draws on the authors survey and field work in the region. Examining both the convergence and divergence of approaches to arbitration in diverse settings provides an avenue to understanding the impact of globalization on the international practice of law.

Thursday, February 25, 2021

Angela Zhang on The US-China Trade Negotiation: A Contract Theory Perspective (Georgetown J Int'l L)

2020, Vol 51, No 4,
Abstract: International trade negotiations have traditionally been viewed as a two-level political bargain between trading nations and among domestic interest groups. While this bargaining model is helpful for predicting the political dynamics in trade negotiations, its focus on politics tends to obscure the economic consequences of trade agreements. Drawing upon insights from contract theory in economics, this Article analyzes three ingredients of transaction costs that lead to the incompleteness of a trade agreement — the unforeseen contingencies, cost of enforcing the contract and the cost of writing the agreement. Using the Sino-U.S. trade negotiation between 2018 to 2019 as a comprehensive case study, this Article illustrates the circumstances when a trade agreement is difficult to write, unlikely to succeed and impossible to enforce. As an alternative to a trade agreement, this Article advocates instead for greater economic integration as a commitment device. By allowing each country to hold the other’s assets hostage, economic integration can facilitate cooperation between nations when trust is lacking. This Article contributes to the existing literature by proposing an economic framework to analyze the promise and perils of trade negotiations. It also offers a cautionary tale of using economic sanction to force other countries to make legal concessions. Click here to read the full article.

Wednesday, February 24, 2021

Response to IOSCO Consultation on Use of AI and Machine Learning by Market Intermediaries and Asset Managers (FTAHK & LITE Lab@HKU)

In October 2020, the FinTech Association of Hong Kong and LITE Lab@HKU submitted a joint written response to the International Organization of Securities Commission (IOSCO)'s public consultation on the use of artificial intelligence (AI) and machine learning (ML) by market intermediaries and asset managers. The response strongly agrees with IOSCO that the use of AI and ML by market intermediaries and asset management firms creates novel opportunities and risks, with an overall need to foster trust in AI and financial markets. The risks should be appropriately mitigated by proportionate regulation that fosters responsible innovation and promotes market integrity, fairness and investor protection, financial stability, competition and innovation. It should also support financial inclusion and combat financial crime. The response draws attention to four important themes: (1) Encouraging the use of AI/ML in RegTech; (2) Addressing unintended consequences that may discourage innovation; (3) Guidance on Proportionality Factors (especially for Customer and Client Disclosure); and (4) Human-In-The-Loop approach to address AI fairness, accountability and transparency.  The joint response can be accessed here.

Tuesday, February 23, 2021

Giuliano Castellano et al on Coordinating Prudential Regulation and Secured Transactions Frameworks : A Primer (World Bank Group)

Giuliano G Castellano, Pratibha Chhabra, and John M Wilson
The World Bank Group
Published in November 2020
Description: Coordination between secured transactions law and rules regulating financial products and institutions is of primary importance to support establishing a sound and inclusive credit ecosystem. This Primer illustrates why coordination between secured transactions law reforms and prudential regulation is needed; introduces the rationale and key tenets of prudential regulatory regimes. Also, specific attention is given to capital requirements and prudential loan-loss provisioning. The Primer also identifies a set of typical issues emerging from the reform experiences of several jurisdictions and presents the key elements of the regulatory strategy to approach such issues.

Monday, February 22, 2021

Emily Lee on Financial Inclusion and Bank Account Opening in Hong Kong (HK Lawyer)

10 July 2020
Abstract: Financial inclusion denotes banks’ provision of basic financial services at affordable costs to those that need and qualify for them. The opposite is financial exclusion, which is when banks deny financial services to customers that they consider as posing high risks for money laundering and terrorist financing, giving rise to the term “de-risking” or “de-banking”. A litany of financial exclusion reports impelled the Hong Kong Money Authority (HKMA) to issue a circular to banks warning against their practices of de-risking on 8 September 2016. Since then, financial inclusion has become a topic of public interests. The article contains nuanced analyses on the “Bank Account Opening Survey”, first published by the Hong Kong Institute of Chartered Secretaries (HKICS) in September 2016. Thereafter, the HKMA established a dedicated webpage on the topic of bank account opening. The HKICS also conducted a second survey on bank account opening that was published in July 2018. As a result, comments on the HKICS’ bank account opening surveys will consist of two separate parts, as provided below, which are intended to complement each other.  Click here to read the full article.

Sunday, February 21, 2021

Maisie Ooi on Re-enfranchising the Investor of Intermediated Securities (J of Private Int'l L)

"Re-enfranchising the investor of intermediated securities"
Maisie Ooi
Journal of Private International Law
April 2020, Vol 16, Issue 1, pp 69-111
Abstract: Efforts to devise a choice-of-law rule for intermediated securities in the last two decades have almost entirely been centred on issues of property and title. Intermediation of securities does not, however, give rise to issues of property alone, even as they are mostly represented as such. The Court of Appeal’s decision in Secure Capital SA v Credit Suisse AG (hereinafter referred to as “Secure Capital”) signals a possibly larger problem of the disenfranchisement of the investor of intermediated securities. Consideration of Secure Capital and its implications on choice-of-law have however been curiously sparse. This article seeks to bring the debate which still continues for issues of property to the issues of disenfranchisement, and to demonstrate why they are no less problematic, complex and in urgent need of a viable solution.

Saturday, February 20, 2021

Zetzsche, Annunziata, Arner & Buckley on The Markets in Crypto-Assets Regulation and the EU Digital Finance Strategy (European Banking Institute)

Dirk A. Zetzsche, Filippo Annunziata, Douglas W. Arner, Ross P. Buckley
Published in November 2020
Abstract: The European Commission published its new Digital Finance Strategy on 24 September 2020. One of the centrepieces of the Strategy is the draft Regulation on Markets in Crypto-Assets (MiCA), designed to provide a comprehensive regulatory framework for digital assets in the EU.
    With MiCA the EU Commission has proposed bespoke regulation for utility tokens and stablecoins including payments tokens, asset-backed tokens and “significant” stablecoins (including “global stablecoins”). As to investment and securities tokens, the EU Digital Finance Strategy relies on the existing body of EU financial and securities law, with the Prospectus Regulation, the MiFID framework as well as the UCITSD and AIFMD at its core, with the intention to incorporate necessary changes as part of the existing ongoing amendment and review processes. MiCA provides for a bespoke prospectus regime for crypto-assets, with the issuing of e-money tokens (i.e. payment tokens), asset-referenced tokens (also known as stablecoins) and crypto-asset services being regulated activities subject to licensing. While supervision of crypto-asset service providers (CASPs) will rest with national authorities, supervision of significant asset-referenced and e-money tokens will rest mainly with the European Banking Authority.
     The EU Digital Finance Strategy marks a very important step for the EU in developing both innovation and the Single Market. At the same time, while MiCA is an ambitious legislative project, there is room for improvement. First, the scope of MiCA remains uncertain as the draft MiCA does not clearly delineate between utility tokens subject to MiCA and investment tokens subject to EU securities law. Second, a systematic approach to EU law is absent. Thresholds and concepts known from other EU laws should be firmly embedded in MiCA. Third, a framework for supervisory cooperation with regard to truly global stablecoins is missing.

Zetzsche, Buckley, Arner, Didenko & Romburg on Sovereign Digital Currencies: The Future of Money and Payments? (SSRN)

"Sovereign Digital Currencies: The Future of Money and Payments?"
Dirk A. Zetzsche, Ross P. Buckley, Douglas W. Arner, Anton N. Didenko, Lucien van Romburg
University of Hong Kong Faculty of Law Research Paper No. 2020/053
Published in October 2020
Abstract: Technology is reshaping money and payment systems in unprecedented ways. Catalysts include the launch of Bitcoin in 2009, the evolution of both decentralised and centralised technologies, the announcement of Libra in 2019, live trials of China’s Digital Yuan, and COVID-19, both in 2020.
     This paper focusses on how technology might reshape money and payments going forward. It considers the policy issues and choices associated with cryptocurrencies, stablecoins and sovereign digital currencies and emphasises there is no single model for sovereign digital currency design. The catalysts reshaping monetary and payment systems challenge regulators. While Bitcoin and its thousands of progenies could be ignored safely by regulators, Facebook’s proposal for Libra, a global stablecoin, brought an immediate and potent response from regulators globally. This proposal by the private sector to move into the traditional preserve of sovereigns – the creation of currency – was always likely to trigger such a regulatory response and also the launch of sovereign digital currencies by central banks. China has moved first with its Digital Yuan – an initiative that may well in time provoke a chain of central bank digital currency issuances around the globe.
     COVID-19 is driving digitalisation to new heights, particularly in electronic payments. In this context, we argue that central banks should focus not on rolling out novel new forms of sovereign digital currencies, but rather on transforming their payment systems. Further into the future, we expect domestic money and payment systems to involve public central banks cooperating with (new and old) private entities to launch digital currencies which underpin better monetary and payment systems at the domestic and international levels.

Buckley, Arner, Zetzsche & Selga on TechRisk (Singapore Journal of Legal Studies)

"TechRisk"
Buckley, Ross P., Arner, Douglas W., Zetzsche, Dirk A., Selga, Eriks K.
Singapore Journal of Legal Studies
March 2020, pp 35-62
Abstract: Fintech is now defined by a long-term, global process of digitisation of finance, increasingly combined with datafication and new technologies including cloud computing, blockchain, Big Data and artificial intelligence. Cybersecurity and technological risks are thus evolving into major threats to financial stability and national security. This trend has been magnified by the COVID-19 crisis which has heightened dependence on digital technologies and seen substantial parts of the population working from home through systems of questionable security. Additionally, the entry of BigTech firms brings two new issues. The first arises with new forms of potentially systemically important infrastructure. The second arises because data--like finance--benefits from economies of scope and scale and from network effects and--even more than finance--tends towards monopolistic or oligopolistic outcomes. This leads to potential systematic risk from new forms of "Too Big to Fail" and "Too Connected to Fail" phenomena. We suggest some basic principles about how to address this entire range of risks.

Friday, February 19, 2021

Shitong Qiao & Roderick Hills Jr on Killing Two Birds with One Stone: How to End Rural Land Expropriation and Secure Tenure for Urban Property Owners (USALI Perspectives)

Shitong Qiao & Roderick M Hills Jr
USALI Perspectives
21 January 2021
Consider two apparently distinct problems that currently vex Chinese land policy. First, what is going to happen when the seventy-year term of land use rights (LURs) for homeowners in Chinese cities expires? LURs are similar to ground leases in common law jurisdictions, except that the owner and lessor of all urban land is the government. Although shorter-lived LURs in some cities have already reached term and been renewed, and Premier Li Keqiang assured homeowners in 2017 that there was no need for worry, the continued absence of formal legal guidance is striking. The drafting of China’s new Civil Code, which replaces the Property Law among others, offered a good opportunity to solve the LUR puzzle, but the final draft approved in May 2020 failed to do so. As more and more LURs come to the end of their terms in coming decades, the question about whether and how such leases can be renewed has become increasingly pressing. To frame the issue in more radical terms, as Professor Robert Ellickson did in 2012: “[I]f current policies continue, the health of every private industrial, commercial, and residential enterprise in China will fade as its fixed-term land contract winds down.”... Click here to read the full text. 

Shitong Qiao on A New Age for the WHO? Comments on "The WHO in the Age of the Coronavirus: (USALI Perspectives)


Shitong Qiao
USALI Perspectives
4 January 2021
In a paper recently published by the American Journal of International Law, USALI Faculty Director José E. Alvarez offered five reasons the World Health Organization is in crisis as well as suggestions for reform. Professor Alvarez also discussed his analysis in this USALI Perspectives essay, and in this October 28 talk. Professor Shitong Qiao of Hong Kong University served as commentator in the October 28 program. This essay summarizes his observations. 
     There is much to agree with in Professor José E. Alvarez’s argument that COVID-19 may ultimately drive organizational change at the World Health Organization (WHO). Indeed, nation states are currently discussing how to reform the WHO, with even China supporting a comprehensive review of the WHO regime. From the starting point of a shared vision of the WHO as defined in the WHO Constitution, I would like to provide a realistic assessment of how China might respond to Professor Alvarez’s proposals for WHO reform... Click here to read the full text.

Thursday, February 18, 2021

New Book: Film and Constitutional Controversy: Visualizing Hong Kong Identity in the Age of 'One Country, Two Systems' (Marco Wan)

Film and Constitutional Controversy: Visualizing Hong Kong Identity in the Age of 'One Country, Two Systems'
Marco Wan
Published in February 2021
Cambridge University Press
300 pp.
Book description: In modern-day Hong Kong, major constitutional controversies have caused people to demonstrate on the streets, immigrate to other countries, occupy major thoroughfares, and even engage in violence. These controversies have such great resonance because they put pressure on a cultural identity made possible by, and inseparable from, the 'One Country, Two Systems' framework. Hong Kong is also a city synonymous with film, ranging from commercial gangster movies to the art cinema of Wong Kar-wai. This book argues that while the importance of constitutional controversies for the process of self-formation may not be readily discernible in court judgments and legislative enactments, it is registered in the diverse modes of expression found in Hong Kong cinema. It contends that film gives form to the ways in which Hong Kong identity is articulated, placed under stress, bolstered, and transformed in light of disputes about the nature and meaning of the city's constitutional documents.

Reviews: 
‘Few books I know of interweave cinema and law as intelligently as Film and Constitutional Controversy in elucidating Hong Kong's post-1997 identity crisis. For anyone concerned with contemporary Hong Kong, China, and the wide-ranging legacies of British colonialism, Marco Wan's informative, judicious account is a must-read. It has so much to tell us about the practical conundrums, allegorical fantasies, and popular affects stemming from this singular historical situation.'
     Rey Chow - Anne Firor Scott Professor of Literature, Duke University

‘Marco Wan's Film and Constitutional Controversy is a fascinating contribution that makes creative use of the nexus between film, culture, and law to trace Hong Kong's unique historical trajectory. At the same time, Wan draws on Hong Kong's singular relationship to the rule of law to offer fresh insights into how film and law can be mutually illuminating.'
     Michel Rosenfeld - University Professor of Law and Comparative Democracy, Cardozo School of Law, Yeshiva University

 

Marco Wan on Queer Temporalities and Transgender Rights: A Hong Kong Case Study (Social & Legal Studies)

"Queer Temporalities and Transgender Rights: A Hong Kong Case Study"
Published online in August 2020
Abstract: This article investigates how theoretical explorations of queer time can shed light on our understanding of law. Taking transgender rights in Hong Kong as a case study, it argues that legal judgments can entrench normative temporal structures and impose tropes such as linearity, futurity, and finality onto the life scripts of trans subjects. Through close readings of the Court of Final Appeal decision in W v. Registrar of Marriages and the recent judicial review challenges that have emerged in its aftermath, it demonstrates how the cases exclude transqueer individuals who do not fit into those temporal trajectories from the realm of rights protection. It also suggests ways of thinking about the temporalities of transgender issues differently. The analysis here stages an encounter between law and literary/cultural theory, and provides a new perspective on the current state of transgender rights in Hong Kong.

Thursday, February 11, 2021

Kung Hey Fat Choy 2021

HKU Legal Scholarship Blog wishes everyone a Happy Chinese New Year 2021.
Thank you to Richard Cullen for drawing and sharing his traditional annual cartoon to mark
The Year of the Ox.

Tuesday, February 9, 2021

HKU Law Research Output Prize Winners 2019-20

Congratulations to the following University and Faculty of Law Research Output Prize Winners 2019-2020:
The Selection Panel, comprised of the members of the Faculty Research Committee, was deeply impressed with the quality of the research that went into each of these outputs.

Friday, February 5, 2021

New Book by Frank He: Divorce in China: Institutional Constraints and Gendered Outcomes (NYU Press)

Divorce in China: Institutional Constraints and Gendered Outcomes
Published in January 2021
304 pp.
Description: Why are women still at a disadvantage in Chinese divorce courts?
Despite the increase of gender consciousness in Chinese society and a trove of legislation to protect women, why are Chinese women still disadvantaged in divorce courts? Xin He argues that institutional constraints to which judges are subject, a factor largely ignored by existing literature, play a crucial role. Twisting the divorce law practices are the bureaucratic incentives of courts and their political concerns for social stability. Because of these concerns, judges often choose the most efficient, and safest, way to handle issues in divorce cases. In so doing, they allow the forces of inequality in social, economic, cultural, and political areas to infiltrate their decisions. Divorce requests are delayed; domestic violence is trivialized; and women’s child custody is sacrificed. The institutional failure to enforce the laws has become a major obstacle to gender justice.
     Divorce in China is the only study of Chinese divorce cases based on fieldwork and interviews conducted inside Chinese courtrooms over the course of a decade. With an unusual vantage point, Xin He offers a rare and unfiltered view of the operation of Chinese courts in the authoritarian regime. Through a socio-legal perspective highlighting the richness, sophistication, and cutting-edge nature of the research, Divorce in China is as much an account of Chinese courts in action as a social ethnography of China in the midst of momentous social change.
Praise: 
  • Xin He’s book is a monumental achievement— drawing on close observation of courts in two very different regions of China as well as a deep engagement with a broad range of scholarly literature, both China specific and more general, about gender, judging, authoritarianism and much more. Divorce in China will be a classic, both as concerns its immediate subject, and state and society in China in general. ~William P. Alford, Jerome A. and Joan L. Cohen Professor of East Asian Legal Studies, Harvard Law School
  • An excellent and absorbing examination, based in substantial part on fieldwork sources, of the handling of divorce cases in China today. Xin He builds on his earlier impressive analyses of divorce litigation and gender to offer very important insights into law and gender in the People's Republic. In this important book he concludes that, sadly, the divorce decision-making process in and around the courts has tended to buttress rather than relieve long-standing prejudices against women in contemporary Chinese society. This study is essential reading for all those concerned with social and legal developments in the PRC today. ~Michael Palmer, University of London

Thursday, February 4, 2021

Amanda Whitfort on the Links between Wildlife Trade, Animal Health and Human Health at the Sustainability Summit

Amanda Whitfort is in the second position from the right
Amanda Whitfort spoke in mid-January 2021 on the links between wildlife trade, animal health and human health in a sustainability summit jointly organised by the Institute of International Sustainable Development, the Hong Kong Chinese Manufacturers' Association, the Hong Kong General Chamber of Commerce and the Consulate General of Finland. Her newest research on the links between poor animal health and welfare, wildlife trade and COVID-19 was published this week in the Journal of Environmental Law. In her article, COVID-19 and Wildlife Farming in China: Legislating to Protect Wild Animal Health and Welfare in the Wake of a Global Pandemic​ she argues that the current legal framework to protect wild animal health, and consequently human health, is not working. In a significant part, this is because there is no international agreement to protect animal welfare. The sole international reference organisation for animal health and disease control, the World Organisation for Animal Health (OIE), recognises that animal health and welfare are inextricably linked yet international law relating to wild animals has historically focused on the conservation or the health of the animals, and, in a few instances on both, but rarely on their links with animal welfare. In the wake of COVID-19, this omission must now be rectified. Going forward decisions about animal welfare law and policy require a global vision. 

Amanda Whitfort on COVID-19 and Wildlife Farming in China (Journal of Environmental Law)

Published on 12 January 2021
Abstract: Coronavirus disease 2019 (COVID-19) has exposed serious deficiencies in the current legal framework to protect wild animal health, and consequently human health. As noted by the World Organisation for Animal Health (OIE), animal health and welfare are inextricably linked. However, there is no international agreement to promote animal welfare and neither the Convention on International Trade in Endangered Species of Wild Fauna and Flora nor the Convention on Biological Diversity, adequately address the welfare of the species they seek to conserve. While the OIE provides guidance on animal health and welfare standards for common agricultural species, it has provided limited guidance for the farming of wild species. China’s wildlife farming industry has been linked with the spread of COVID-19 but, to date, China has introduced few national welfare controls to protect the health of wild animals bred for human consumption. In the wake of COVID-19, these omissions must be remedied to provide appropriate safeguards to ensure animal health and welfare and protect public health.

Friday, January 22, 2021

Benjamin Chen & Zhiyu Li on How Technology Will Change The Face of Chinese Justice (Columbia J of Asian L)

2020, Volume 34, Issue 1, pp. 1-58
Abstract: The People’s Republic of China is embarking on an ambitious program to revolutionize its judicial institutions through information technology. Millions of cases have been published online as part of a move towards greater transparency. Courts are piloting artificial intelligence systems that promise to streamline adjudicatory processes and expand access to justice. Although other jurisdictions have employed statistical and computational methods to improve judicial decision-making, few have sought to exploit technology to the same degree. A way of understanding this exceptionalism is to view the integration of technology into law as a microcosm of China’s ambitions to emerge as a global artificial intelligence powerhouse and thereby establish itself in the first rank of nations.
     Seen from a different perspective, however, the technologization of the legal system responds to certain oppositions in Chinese justice. First, courts today are straining under the burden of their caseloads. The contemporary turn towards legality has swelled the number of lawsuits while the professionalization of the judicial corps also culled its ranks. Artificial intelligence enhances the speed and consistency of adjudication while online disclosure cultivates public trust in the courts. Second, adherence to legal rules and forms restored normality to a society upended by revolutionary struggle but its inflexibility also foments dissatisfaction and disrupts relationships. The ensuing governmental imperative for judges to mediate disputes has resulted in coerced settlements and delayed verdicts. Machine predictions of case outcomes, supplied by courts, guide parties to bargain in the shadow of the law, thereby preserving the voluntariness of peace and the sanctity of justice. Third, while the party-state encourages citizens to know the law and use it as their weapon, civil society and activist lawyers may rally behind a legal cause to challenge the ideological hegemony of the party-state. By helping citizens learn the law and claim their rights, databases and applications foster legal consciousness while disintermediating lawyers.
     Technological initiatives for administering justice simply, swiftly, and singly have thus blossomed in China because they relieve some of the tensions in its legal system. An original survey of roughly a thousand netizens and interviews of over a hundred legal aid seekers suggest that internet and artificial intelligence technologies have the potential to realize and refine a Chinese brand of authoritarian legality. But there is also a larger insight here that transcends jurisdictional boundaries and legal cultures. Obverse to the democratization of law is the marginalization of the legal profession. The advent of technology thus surfaces a tension between two dimensions of legality. The first dimension sees law as the disciplining of human conduct through rules. The second dimension, on the other hand, conceives of law as a dynamic force that, by responding to reason, has the potential to reshape the normative status quo. To the extent that lawyers are integral to the vitality of the legal order, innovations that displace them may also undermine one conception of the rule of law.

Thursday, January 21, 2021

Kerry Holdings Professor in Law Douglas Arner Awarded Inaugural RGC Senior Research Fellowship

 

Kerry Holdings Professor in Law Douglas Arner Awarded Inaugural RGC Senior Research Fellowship
Seven academics across different academic backgrounds from the University of Hong Kong (HKU) were awarded under the inaugural Research Fellow Scheme (RFS) and Senior Research Fellow Scheme (SRFS) of the Research Grants Council (RGC), for their distinguished research achievements and significant contributions to the higher education sector. Among them, four were conferred as Senior Research Fellows and three were conferred as Research Fellows, in an award presentation ceremony held by RGC in November 2020.
    The schemes aim to provide sustained support and relief from teaching and administrative duties to exceptionally outstanding researchers at Associate Professor or full Professor ranks at University Grants Committee (UGC)-funded universities in Hong Kong. Ten places across all academic disciplines are awarded under each scheme.

The seven HKU recipients are:
RGC Senior Research Fellow Scheme
Professor Douglas Wayne ARNER
Kerry Holdings Professor in Law and Director, Asian Institute of International Financial Law, Faculty of Law
Professor Giulio CHIRIBELLA
Professor and Director, QICI Quantum Information and Computation Initiative, Department of Computer Science, Faculty of Engineering
Professor Benjamin John COWLING
Professor, School of Public Health, Li Ka Shing Faculty of Medicine
Professor Chuyang TANG
Professor, Department of Civil Engineering, Faculty of Engineering
RGC Research Fellow Scheme
Professor David Alexander PALMER
Professor, Hong Kong Institute for the Humanities and Social Sciences / Department of Sociology, Faculty of Social Sciences
Dr. Shelley Xiuli TONG
Associate Professor, Academic Unit of Human Communication, Development, and Information Sciences, Faculty of Education
Professor Kevin Kin Man TSIA
Professor, Department of Electrical and Electronic Engineering, Faculty of Engineering

Biographies of the awardee:

RGC Senior Research Fellow Scheme
Professor Douglas Wayne ARNER, Kerry Holdings Professor in Law and Director, Asian Institute of International Financial Law, Faculty of Law
Project title: Digital Finance, Financial Inclusion and Sustainability: Building Better Financial Systems
Professor Arner is the Kerry Holdings Professor in Law and Director and co-founder of the Asian Institute of International Financial Law at the University of Hong Kong. Professor Arner has published 18 books and more than 200 articles, chapters and reports on international financial law and regulation, including recently Reconceptualising Global Finance and its Regulation (Cambridge 2016) and The RegTech Book (Wiley 2019). He is one of the top 1% of all authors on SSRN, where his work has been downloaded more than 100,000 times. From 2012-2018, Professor Arner coordinated an RGC Theme-based Research Scheme project on Hong Kong's role and future as an international financial centre. He leads Introduction to FinTech – launched with edX in May 2018 and now with over 80,000 learners spanning every country in the world. Professor Arner has advised on financial sector development projects around the world, as an advisor to, among others, the UN, World Bank, Asian Development Bank, APEC, Alliance for Financial Inclusion, and European Bank for Reconstruction and Development. He has lectured and co-organised conferences and events across Asia-Pacific, Europe, North America and Africa, and has been a visiting professor at Duke, Harvard, McGill, Melbourne, NUS, UNSW, and Zurich, among others.