Smart Finance in Macao and Zhuhai Anniversary of Hengqin Smart Financing Industrial Park and Macao-Zhuhai Industry Exchange Meeting


Release date:2019/10/29
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  Associate Dean Khong Yueng Wah attended the event on 29 October 2019 as the Faculty of Finance of City University of Macau was a supporter of the event. More than 100 participants, including relevant leaders from the Zhuhai Financial Work Bureau, leaders of relevant government departments in Macao and Zhuhai, representatives of the upstream and downstream enterprises in the featured finance sector in Macao and Zhuhai, as well as representatives of financial institutions, investment institutions, social organizations, universities and media attended the event to discuss the future development of Hengqin Smart Financing Industrial Park.

  Hengqin New Area is located in the south of Zhuhai and on the west bank of the Pearl River Estuary, with a total area of 106.46 square kilometres. It is just a stone's throw away from Macao and 34 nautical miles from Hong Kong. After the Hong Kong-Zhuhai-Macao Bridge is completed, Hengqin will become the only free trade zone in the Mainland connected with Hong Kong and Macao through road and bridge. Mr Kang Hong, member of the Party Committee of Hengqin New Area and Deputy Director of the Management Committee, was the first speaker at the anniversary event, who introduced the details of Hengqin and government policies to participants; the second guest speaker was Mr Chi Tenghui, Director of Financial Services Bureau of Hengqin New Area, who introduced the details of Hengqin Smart Financing Industrial Park to participants; Associate Dean Khong Yueng Wah of the Faculty of Finance of City University of Macau delivered the third speech with the topic of "Visions of Macao-Zhuhai Cross-border Financial Industry Cooperation". Associate Dean Khong first illustrated the opportunities of cross-border financial industry cooperation and development in Macao and Zhuhai to the guests. She mentioned that there are financing demands in the infrastructure sector; a large amount of asset management and investment needs will arise during the upgrading of the industrial structure of Macao and Zhuhai; and demands for innovation will occur in financial services. It was mentioned in the "Mainland and Macau Closer Economic Partnership Agreement (CEPA Agreement on Trade in Services)" issued recently that trade liberalization will facilitate the flow of cross-border capital and promote the rapid development of offshore and onshore businesses; Associate Dean Khong then further noted that Macao and Zhuhai can jointly promote the development of smart finance in the banking industry and the innovation of cross-border financial services, so as to establish a demand-oriented model to improve the cooperation between Guangdong, Macao and Hong Kong, to fully understand the latest market information of the European, American and Portuguese-speaking countries, and to promote the design and innovation ability of relevant products. She said that the increased capital flow will result in more regulatory difficulties and risk fluctuations, which aroused wide consideration and discussion among the audience. Later, two guests from relevant industries shared their practical experience at the meeting. The guests included Mr Chen He, Director of GTech AI (Zhuhai) Co., Ltd., who shared the operations of the Hengqin Financial Index with the audience, and compared it with the SSE Composite Index; the last speaker was Mr Zhang Zhenyu, Deputy General Manager of Zhuhai Hengqin New Area Qin'ao Financial Services Co., Ltd, who introduced the Macao featured financial service base in Hengqin New Area and preferential policies, and hoped that qualified enterprises would join the industrial park of Zhuguang Group.

  Afterwards, a simple yet solemn signing ceremony was held, where the Macau Venture Capital Association and Hengqin Financial Investment Inno Valley Incubator Management Co., Ltd. signed the Macao-Zhuhai Industry Investment and Financing Service Cooperation Agreement, and Guangzhou Technology Financial Group Co., Ltd. and Hengqin Financial Investment Inno Valley Incubator Management Co., Ltd. signed the Technology and Finance Cooperation Agreement of Guangdong-Hong Kong-Macao Greater Bay Area. An industrial park enterprise forum was also held at the event, and leaders at all levels interacted and communicated with enterprise representatives.

  Teachers and students of the Faculty of Finance of City University of Macau visited GTech AI (Zhuhai) Co., Ltd. and GF securities Co., Ltd. Zhuhai Branch, and communicated with relevant personnel. An exhibition of financial achievements was also held outside Inno Valley HQ. Under the guidance of Associate Dean Khong Yueng Wah, teachers and students of the Faculty of Finance of CityU have expanded their views and perspectives on the Guangdong-Hong Kong-Macao Greater Bay Area.



 
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