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

CX Daily: China Rolls Out Fresh Stimulus to Boost Sluggish Economy 

Macro Strategy: The Fulcrum of China’s Stimulus

CX Daily: China’s Stimulus Bomb Sparks Optimism, But Economy May Still Struggle 

Fortress Hill Advisors

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

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Macroeconomics

<ul>
<li>Details of the extra central government spending/scaled up local authority purchases of unsold complete homes for affordable housing should be seen late October/early November from the National People Congress.  </li>
<li>We estimate Yuan1.5-2.0trn of extra spending, which leads us to increase the 2025 GDP forecast to 4.5% from 4.0% --- fiscal impact on 2024 will likely be very small.</li>
<li>The more active government policy stance, also reduces the risk of a harder landing (circa 3%) to 10-15% from 20-25% in 2025.  </li>
</ul>


Details of the extra central government spending/scaled up local authority purchases of unsold complete homes for affordable housing should be seen late October/early November from the National People Congress.  
We estimate Yuan1.5-2.0trn of extra spending, which leads us to increase the 2025 GDP forecast to 4.5% from 4.0% --- fiscal impact on 2024 will likely be very small.
The more active government policy stance, also reduces the risk of a harder landing (circa 3%) to 10-15% from 20-25% in 2025.  


Details to Follow for China Fiscal Stimulus