Faculty News

The University of Hong Kong (HKU) announced the establishment of the James M. and Cathleen D. Stone Centre on Socio-Economic Inequality in Asia on 4 December. HKU is now the first university in Asia to host a Stone Centre, joining a prestigious global network of 13 such centres dedicated to studying wealth inequality.

The launch was marked by an inaugural ceremony and conference attended by distinguished academic leaders, and the donor, Dr James M. Stone. Jointly housed by HKU’s Faculty of Business and Economics and the Faculty of Social Sciences, The Centre is poised to become a global research hub dedicated to understanding the root causes of inequality in Asia and developing evidence-based, actionable solutions.

The inaugural ceremony was officiated by Dr James M. Stone, Founder of the Stone Foundation; and Professor Xiang Zhang, President and Vice-Chancellor of HKU.

Inaugural Conference features donor Dr James M. Stone, and leading global scholars to address one of Asia’s most critical challenges

In his welcoming remarks, President Xiang Zhang highlighted the Centre’s alignment with the University’s mission. “As a leading global university, HKU has a fundamental duty to contribute to this mission. The establishment of this Centre embodies our pledge to academic excellence, innovation, and social responsibility.”

Dr James M. Stone, whose foundation is a leading philanthropic organisation known for promoting equity and addressing systemic challenges, shared his vision for the new Centre. “Balancing the benefits of rewarding entrepreneurship against the pernicious harms of limitless wealth concentration has become a serious challenge for all nations. Developing a wise policy roadmap will require the best minds we can muster. Cathy and I are thrilled to welcome this next impressive team to the task.”

The Centre has a multi-faceted mission for its future. Its strategy is to demonstrate academic leadership by establishing HKU as a hub for inequality research in Asia and to exert policy influence by informing regional policies on poverty and wealth. Furthermore, the Centre aims to foster global dialogue by bridging Asian and Western perspectives through comparative studies and to prioritize public engagement by democratizing knowledge through accessible summaries and a public data hub. The Centre’s Director, Professor Uta Schönberg, said, “We are deeply committed to understanding the nature, causes, and consequences of socio-economic inequality in the Asian context, comparing these with those in North America and Europe, and identifying strategies to mitigate their adverse impacts on society.”

The inauguration was followed by a high-level conference, featuring keynote speeches by two of the world’s foremost experts on inequality: Professor Steven Durlauf of the University of Chicago and Professor Fabian Pfeffer of LMU Munich. The conference also included panel discussions on promoting equal opportunities and achieving inclusive growth, convening leading scholars from HKU, The University of California San Diego, The University of Tokyo, and Shanghai Jiao Tong University.

Guests, speakers, and participants gathered together for a group photo to commemorate the occasion

About The James M. and Cathleen D. Stone Centre on Socio-Economic Inequality in Asia (SCoSEIA)
The James M. and Cathleen D. Stone Centre on Socio-Economic Inequality in Asia (SCoSEIA) at HKU is a interdisciplinary research center dedicated to understanding and addressing the causes, mechanisms, and consequences of inequality in Asia. Jointly established by the Faculty of Business and Economics and the Faculty of Social Sciences, the Centre’s mission is to produce cutting-edge, evidence-based research to inform public policy and discourse. Led by Co-Directors Professor Tarani Chandola, Professor Uta Schönberg, and Professor Ming Wen, SCoSEIA focuses on key themes including wealth creation, the impact of economic policies, and the socio-political effects of wealth concentration.

Press release: here