On August 6th, 2025, Dr. ZHAO Yanxia, Chief Scientist of the Financial Meteorology Innovation Team of the China Meteorological Administration, led her team on a visit to CCRS. During this visit, the team engaged in in-depth discussions with the research team of the CCRS director, Professor LU Mengqian, as well as the research team of Dr. TANG Bo, Assistant Director of Institute for Financial Research at HKUST. The meeting focused on the research progress and potential areas of collaboration in the field of financial meteorology.

At the meeting, Dr. ZHAO introduced the team's recent advancements in the field of financial meteorology. She emphasized the increasing importance of weather derivatives in managing climate risks against the backdrop of global climate change. She pointed out that weather derivatives not only contribute to the development of green finance but are also an integral component of green finance itself.

Research teams led by Dr. TANG Bo, Dr. ZHAO Yanxia, and Prof. LU Mengqian gathered for an academic conference between China Meteorological Administration's Key Innovation Team in Financial Meteorology and CCRS. In the front row, from far left: Dr. TANG Bo (Assistant Director, HKUST Institute for Financial Studies), second from left: YANG Jie (Director, Shanghai Meteorological Bureau Emergency Response Division), second from right: Dr. ZHAO Yanxia (Chief Scientist, CMA Financial Meteorology Innovation Team), and far right: Prof. LU Mengqian (Director, CCRS, HKUST).

Prof. LU provided an overview of the research center’s focus, which is on the significant challenges posed by climate change across various industries. The center is committed to driving innovation and practical applications through interdisciplinary research in the field of climate change. She noted that with the growing impact of climate change, particularly in meteorologically sensitive industries such as agriculture, energy, shipping, and finance, the demand for climate risk management and meteorological services is increasing. The center has made significant progress in this area and is actively promoting the translation of scientific research into industry applications.

Looking ahead, Prof. LU emphasized that the center will continue to strengthen collaboration with research institutions, government agencies, and enterprises, aiming to expand the use of meteorological services and enhance the climate adaptation capacity of various industries. This, she stated, would contribute to achieving broader sustainable development goals.

Finally, Prof. LU warmly welcomed Dr. ZHAO and her team to the center and expressed confidence in the future cooperation between Shanghai and Hong Kong. She highlighted that the integration of meteorology and finance will be key to addressing the challenges of climate change and advancing green development. The collaboration between the teams is expected to bring more innovations and breakthroughs to these fields.