HKTDC Research Experts
Introducing the HKTDC's Senior Economists
Identifying promising new trends and markets for SMEs is a central mission of the Hong Kong Trade Development Council (HKTDC). Our senior economists conduct in-depth research into developed and emerging markets and identify new business opportunities.

HKTDC economists can speak to broadcast and print media to elaborate on their first-hand research into promising new markets.

Our economists can provide interviews for timely commentary and analysis. They may also offer insights on news related to their studies of trade, business and macroeconomic issues.

The HKTDC has issued a wide variety of reports highlighting business opportunities in traditional and emerging markets. Our economists also regularly study:

  • Consumer behaviour and business practices in global markets and implications for Hong Kong
  • Hong Kong's trade outlook
  • Business opportunities related to the Chinese mainland

Meet the economists:

Nicholas Kwan, Director of Research

Research Interests
  • Regional trade and economic integration
  • Asian economic development
  • International finance
  • Monetary and fiscal policy
  • Investment strategy
Mr Kwan joined the HKTDC as Director of Research in May 2013.

A seasoned economist, Mr Kwan has 35 years of experience in economic and business research, including more than six years at Standard Chartered Bank as its Asia Research Head, seven years working for the Hong Kong Monetary Authority covering both macroeconomic and policy research, and 11 years at Merrill Lynch as its Asia Regional Chief Economist. Mr Kwan is a graduate of the Chinese University of Hong Kong and has an MBA degree from the UK’s Warwick University. He was also a Chartered Financial Analyst.

Tel: 852 2240 5891 Email: nicholas.km.kwan@hktdc.org


Nicholas Kwan
Nicholas Kwan,
Director of Research
Billy Wong, Deputy Director of Research

Research Interests
  • Hong Kong-Chinese mainland economic and trade relations
  • China trade and investment policy
  • China export processing trade
  • China consumer market
  • Trade and economic developments in Hong Kong
Mr Wong is responsible for the overall supervision of the Department’s research programme. He was previously responsible for Greater China market research and has been with the HKTDC since 1996. Before joining the HKTDC, Mr Wong worked in the Research Department of Standard Chartered Bank. Mr Wong holds a Master’s degree in Economics from University of Texas (Austin) and a Bachelor’s degree in China Law from Tsinghua University.

Tel: (852) 2240 5900 Email: billy.wong@hktdc.org


Billy Wong
Billy Wong,
Deputy Director of Research
Wenda Ma, Assistant Principal Economist (Asian and Emerging Markets)

Research Interests
  • Trends and features of Hong Kong’s major manufacturing and services industries
  • Market developments and trade policies in Asia (excluding Greater China), Middle East and Africa
  • Business opportunities in emerging markets in Asia (excluding Greater China), Middle East and Africa
As the head of Asian and Emerging Markets Research Team, Ms Ma provides leadership and direction for research on Asia (excluding Greater China), the Middle East and Africa. The team closely monitors and reports on the macro environment, market trends, consumer characteristics as well as changes in trade policies and regulations, with a mission to help Hong Kong companies capture business opportunities in these markets.

Tel: 852 2240 5909 Email: wenda.wt.ma@hktdc.org


Wenda Ma
Wenda Ma,
Assistant Principal Economist
(Asian and Emerging Markets)
Louis Chan, Assistant Principal Economist (Global Research)

Research Interests
  • Trends and features of Hong Kong’s major manufacturing and services industries
  • Market and trade developments in the Americas and Europe
  • Trade policies and regulatory changes in the US and EU
  • Business opportunities in Latin America and emerging Europe
As the head of the Global Research Team, Mr Chan provides leadership and direction for researches on market developments in the Americas and Europe. To provide a macro view for SMEs to formulate export strategies, Mr Chan and his team monitor and evaluate the performance, changing trends and competitiveness of Hong Kong’s trading, manufacturing and service sector, at the industry-specific levels. To facilitate SMEs’ sales efforts, they also keep a close eye on the emerging business opportunities, consumption and sourcing trends, as well as regulatory changes in the Americas, Europe and Central Asia.

Tel: 852 2240 5908 Email: louis.wk.chan@hktdc.org


Louis Chan
Louis Chan,
Assistant Principal Economist
(Global Research)
Alice Tsang, Assistant Principal Economist (Greater China)

Research Interests
  • Trends and features of Hong Kong’s major manufacturing and services industries
  • Hong Kong-Chinese mainland economic and trade relations
  • China trade and investment policy
  • China consumer market
  • Trade and economic developments in Hong Kong
As the head of the Greater China Research Team, Ms Tsang provides leadership and direction for research on market developments on the Chinese mainland, in Hong Kong and Taiwan. To provide market insights for SMEs to formulate business strategies, Ms Tsang and her team regularly monitor and report on the macro environment, market trends, consumer characteristics as well as changes in trade policies and regulations. At industry-specific levels, the team also gauges trends and business opportunities for Hong Kong’s major manufacturing and services industries.

Tel: 852 2240 5913 Email: alice.sw.tsang@hktdc.org


Louis Chan
Alice Tsang,
Assistant Principal Economist
(Greater China)
Wing Chu, Business Advisory Manager

Research Interests
  • Belt and Road topics, such as developments relating to the Asian Supply Chain and China’s Overseas Industrial Parks
  • Updates to China’s trade-related regulations
Mr Chu is responsible for the Research Department’s Business Advisory Unit. The Unit partners with a number of institutions in Hong Kong and on the Chinese mainland in order to provide advisory services to the public on trade-related issues via both seminars and more individual formats. It also works with a number of external parties to provide research resources and intelligence for public reference, including the latest information on the Belt and Road Initiative and changes to China’s regulatory system.

Tel: (852) 2240 5907 Email: wing.wc.chu@hktdc.org


Wing Chu
Wing Chu,
Business Advisory Manager