Professor Kai Li is an Assistant Professor of Finance at Hong Kong University of Science and Technology. He holds Ph.D. degree in Economics from Duke University, and Master’s degree in Economics from Peking University. Professor Li’s research area includes asset pricing, macro finance and financial economics. His current research projects study the implications of financial frictions on the asset returns, climate change finance, Intangible capital and factor investing, and China’s financial markets. His research articles have been published in top academic journals, such as Review of Financial Studies and Journal of Financial Economics. In addition, he has received the Franklin Prize for Excellence in Undergraduate Teaching from HKUST. Prof. Li is the member of Macro Finance Society, Western Finance Association, American Finance Association, and European Finance Association.