Phone: (852) 3943-1171

Song, Zheng Michael

Co-Director, The Chinese University of Hong Kong-Zhejiang University Joint Research Center for Digital Economy

Head of Department of Economics and Wei Lun Professor of Economics, The Chinese University of Hong Kong

Co-Director, The Chinese University of Hong Kong-Tsinghua University Joint Research Center for Chinese Economy

Areas of Expertise

• Macroeconomics

• Chinese Economy

• Political Economy


Zheng (Michael) SONG is Wei Lun Professor of Economics and the Department Head at the Department of Economics, Chinese University of Hong Kong (CUHK), a Co-Director of CUHK-Tsinghua Joint Research Center for Chinese Economy, a Co-Director of CUHK-Zhejiang University Joint Research Center for Digital Economy, a Distinguished Visiting Professor at Tsinghua University and Zhejiang University, and special-term professor at Peking University. He received B.A. from Shanghai Institute of Foreign Trade (1997), M.A. from Fudan University (2000) and Ph.D. from Stockholm University (2005). Before joining CUHK, he was an Assistant/Associate Professor of Economics at Chicago Booth (2011-15), a Visiting Scholar/Assistant Professor of Economics at CUHK (2009-11) and a Research Fellow at Fudan University (2005-09). He is a Senior Fellow of ABFER and a Fellow of Luohan Academy. His research focuses on Chinese economy and macroeconomics. His papers were published by leading academic journals including American Economic Review, Econometrica and Journal of Political Economy. He won Sunyefang Economic Science Award in 2013. He is an Associate Editor of Econometrica, Review of Finance and was a Co-Editor of China Economic Review. He sits on a number of academic advisory boards such as China’s Economics Foundation and Hong Kong Institute for Monetary and Financial Research. He is also a Currency Board Committee member of the Hong Kong Exchange Fund Advisory Committee.


Selected publications:

From Imitation to Innovation: Where Is All that Chinese R&D Going? (with Michael Koenig, Kjetil Storesletten and Fabrizio Zilibotti), forthcoming, Econometrica

Liquidity Rules and Credit Booms (with Kinda Hachem), Journal of Political Economy, 129(10): 2721-2765 (lead article)

Special Deals with Chinese Characteristics (with Chong-En Bai and Chang-Tai Hsieh), NBER Macroeconomics Annual 2020, 341-379

Grasp the Large, Let Go of the Small: The Transformation of the State Sector in China (with Chang-Tai Hsieh), Brookings Papers on Economic Activity, 2015, Spring, 295-346

Growing like China (with Kjetil Storesletten and Fabrizio Zilibotti), American Economic Review, 101(1): 196-233, February 2011


Selected working papers:

Unequal Returns to China's Intercity Road Network (with Simon Alder and Zhitao Zhu)

Special Deals from Special Investors: The Rise of State-Connected Private Owners in China (with Chong-En Bai, Chang-Tai Hsieh and Xin Wang)