On the afternoon of October 22, 2020, the Faculty of Finance held the 40th Anniversary of City University of Macau： Finance Seminar Series [3]. Mr. Yang Hao, deputy general manager of Bank of China Macau Branch, was invited to give a speech on the theme of “Thoughts on the Development of Macau's Modern Finance”. Ms. Chen Fen, Director of Bank of China Macau Branch, Mr. Qi Wenhao, from the office of Bank of China Macau Branch, Acting Rector Kong Fanqing, City University of Macau, Dean Adrian Cheung of the Faculty of Finance, Associate Dean Khong Yueng Wah and other guests attended the meeting.

    Acting Rector Kong Fanqing, City University of Macau, delivered a welcome speech to the lecture. She showed that the financial industry is an important industry for Macao's economic development and will become a critical financial service platform for Portuguese speaking countries and the Guangdong-Hong Kong-Macau Greater Bay Area. Acting Rector Kong Fanqing was very optimistic about the development of Macau's financial industry. Then she mentioned that the City University of Macau established the Faculty of Finance in 2018. This move was to meet the needs of our country and Macau for financial talents. It aimed to cultivate outstanding financial talents. At the same time, students were encouraged to grasp development opportunities through hard-working and applying what we have learned into practice, contributing to the financial industry in China. Finally, Acting Rector Kong expressed her gratitude to the Bank of China Macau Branch for its full support and help. She also expressed her gratitude to Mr. Yang Hao, Deputy General Manager of Bank of China Macau Branch, for attending the lecture and sharing experience with students. She hoped that students would benefit a lot from it.

    During the seminar, Mr. Yang talked in detail about the development of Macau's modern finance based on his years of working experience in Macao. Firstly, he elaborated the Macau's economic and financial situation, such as basic information of the Macau SAR, Macau's important position in the new development policy of national dual circulation and mutual promotion, Macau's own uniqueness and platform advantage as well as development challenges, Macau’s financial situation, financial market structure of Macau, Macau financial regulation and supervision, and Macao's advantages in developing financial business. Next, he explained the "Development Process of Macau's Modern Finance", such as the origin and continuation of Macau's "Modern Finance", focusing on the achievements of Macau's financial development. Finally, he put forward some thoughts and suggestions on the development of modern finance in Macau. There were five aspects: (1) To adhere to the idea of differentiation development, and develop a vigorous modern financial industry. (2) To develop Macau's bond market and expand the offshore RMB market. (3) To develop Macau's green finance in line with the concept of national green development. (4) To focus on financial cooperation between Guangdong, Hengqin and Macau. (5) Suggestions on the establishment of a RMB denominated securities market in Macau.

    This seminar helped students to have better understanding on the development of Macao's modern financial field, expanded and broadened their thinking.