About the Centre

The Hong Kong-Shenzhen Finance Research Centre is co-founded by The Chinese University of Hong Kong (CUHK) Business School and the Shenzhen Finance Institute (SFI) of CUHK (Shenzhen). It is the first research unit in the Guangdong-Hong Kong-Macao Greater Bay Area that focuses on cutting-edge finance research.

Through inviting leading scholars, hosting international conferences, recruiting top researchers, data scientists and PhD students, as well as interacting with other research centres within the SFI, our centre will generate synergies between two CUHK campuses and facilitate collaborations around the world.

In addition, we will generate comprehensive datasets, train academic and industry talents, support rigorous research, empower companies and government agencies, and ultimately contribute to intellectual exchanges and financial activities in the Greater Bay Area.

For more information, please visit:



Research Focus

Focus 1:

We are working on building a centralized data hub to help obtain, store, and share data. This data hub acts as the centralized contact point and bridges between the faculty members and participated organizations.

We develop the data hub to manage datasets for research purposes and collaborative opportunities, reaching an ultimate goal in solving the unsolved business problems from practitioners and providing opportunities for researchers to make the best use of available datasets wisely to generate social impact and outreach.

Available datasets can be found here.

Focus 2:

By providing an interdisciplinary platform, we aim to foster impactful research collaboration among researchers who share the same research goal from various business disciplines, such as:

  • Economics,
  • Finance,
  • Information science, or
  • Marketing and operation management.



  • Successfully hosted The Summit of Unsolved Problems (SOUP) on May 7th, 2021 at CUHK Business School, Shenzhen Finance Institute, and online simultaneously


  • Professor Michael Zhang received WISE Best Paper Award at 2020 Workshop on Information Systems and Economics (WISE)
  • Professor Michael Zhang, Professor Ling Cen, Professor Zhenyu Gao, and Professor Jing Wu were among the successful recipients of the Hong Kong RGC General Research Fund
  • Professor Ling Cen received NZX Best Paper Award: Outstanding Research with Practical Application to the New Zealand Capital Markets, 2020


  • Professor Tao Shu received Emerald Best Paper Award at 2019 China Finance Review International Conference (CFRIC)
  • Professor Ling Cen received Faculty Teaching Merit Award from CUHK Business School
  • June 2019: Centre establishment ceremony as part of the Greater Bay Area Economy and Development Forum

Recent Posts

HSFRC Latest Research: U Disappeared: How Index Funds Reshape Intraday Stock Market Dynamics

The U-shaped intraday pattern in stock liquidity, volume, and price volatility is one of the most well-known empirical patterns documented in the microstructure literature. For example, most previous studies found that intraday width of spreads for U.S. stocks are wider immediately after the open and right before the close. A research conducted by HSRFC member … Continue reading HSFRC Latest Research: U Disappeared: How Index Funds Reshape Intraday Stock Market Dynamics

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