2 June 2025 

The Hang Seng University of Hong Kong (HSUHK) welcomed Professor Zhang Weiying, a 2025 Honorary Doctor at HSUHK and considered to be one of China’s most influential economists, to be a distinguished speaker at the Visionary Wisdom: Honorary Doctorate Lecture Series held today. Professor Zhang delivered a compelling lecture titled “Indeterminacy, Imagination, and Entrepreneurship”. Currently the Boya Chair Professor of Economics and Senior Professor of Economics at the National School of Development at Peking University, Professor Zhang is renowned for his groundbreaking contributions to free-market advocacy and entrepreneurship.

In his lecture, Professor Zhang Weiying discussed how most economists do not understand the market because they do not understand entrepreneurs as the most important players in the market. He said that imagination is creating something from nothing, and elaborated on his thought that the world is not destined to be a certain way, but is a product of how people imagine it should look like. He further explained that entrepreneurs’ ability is to see beyond existing constraints, embrace uncertainty, and imagine possibilities that do not yet exist fuels economic development in ways that traditional macroeconomic policies cannot, and emphasised his belief that entrepreneurial decisions are not to solve problems under given constraints, but to change the constraints.

Professor Zhang further argued that industrial policies should not be dictated by experts or past successes, as innovation is inherently unpredictable. Instead, he advocated for a shift from a “manager-centred model” to an “entrepreneur-centred model”, where strong corporate governance empowers entrepreneurship to thrive.

Professor Zhang also stated that the true superiority of a market economy lies in enabling the most imaginative, creative, and adventurous individuals to realise their aspirations, creating value for others without causing harm.

The lecture was followed by an engaging Q&A session moderated by Professor Sam Park, Dean of the School of Business at HSUHK, fostering stimulating discussions on entrepreneurship, innovation, and market-driven progress.

Professor Simon Ho, President of HSUHK, said in his opening remarks that Professor Zhang’s pioneering work in free-market advocacy, entrepreneurship, and economic reform has profoundly shaped scholarly discourse and policymaking in China and beyond, and that his research has redefined people’s understanding of economic growth, firm dynamics, and market innovation, making his presence at HSUHK even more meaningful. “We are excited to learn from his wealth of knowledge and experience, and his insights will undoubtedly inspire critical thinking and challenge conventional perspectives. This lecture provides students with a holistic education experience and reflects HSUHK’s commitment to knowledge exchange and global engagement.”

Professor Zhang will be conferred with an Honorary Doctorate degree in recognition of his extraordinary contributions to economic thought and policy, at HSUHK’s Fifth Honorary Doctorate Conferment Ceremony on 3 June 2025.