Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

China Outlook: Unbalanced and Slowing Growth

China's Serial Rate Cuts: What are Them and are They Effective in Reviving the Falling Economy

Outlook Overview: How Far Are the Rate Cuts?

China Banks - Losses at Developers, Notes to Financials at Some Banks, More Clear than Headlines

China Banks; Challenged on Credit Quality Trends, with Selective Opportunities to Be Found

China: Weakness of Residential Property Market Spills to Banking Sector

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

Premium Economic & Investment Research

Cross Asset Strategy

<ul>
<li>China’s 19 major domestic systemically important banks hold up well under most solvency and liquidity tests, though some capital shortfalls appear with a moderate or severe NPL sensitivity shock scenario.  </li>
<li>The safety net would likely be capital injections including from central government as occurred with the largest 4 banks in 1997-04 or takeover and mergers.</li>
<li>However, small and mid-sized banks shortfall of capital in the more severe sensitivity would test China authorities crisis management and response capacity.</li>
</ul>


China’s 19 major domestic systemically important banks hold up well under most solvency and liquidity tests, though some capital shortfalls appear with a moderate or severe NPL sensitivity shock scenario.  
The safety net would likely be capital injections including from central government as occurred with the largest 4 banks in 1997-04 or takeover and mergers.
However, small and mid-sized banks shortfall of capital in the more severe sensitivity would test China authorities crisis management and response capacity.


China Banking Stress Tests