On the afternoon of December 3, 2020, the Faculty of Finance of City University of Macau held the ”40th Anniversary of City University of Macau Finance Seminar Series [8]”at Ho Yin Convention Centre. The seminar was also the first seminar of the Hengqi - Macau Cross Border Finance Seminar Series. This seminar invited Mr. Lan Yadong, Chairman of Hengqin Life Insurance Co., Ltd., as a guest speaker, who made a speech titled “The Future Perspective of Insurance Industry in the Greater Bay Area”. Among the guests attending the event were Dean Adrian Cheung and Associate Dean Khong Yueng Wah.

    Mr. Lan has been working in the insurance industry for more than ten years with a wealth of insurance theoretical knowledge and practical experience. He won the 4th National Outstanding Marketing Planner Golden Tripod Award, Top 100 Marketing Leaders Influencing China, Top Ten Special Contribution Awards for Press Spokespersons of Chinese enterprise, and China Insurance’s 40-year "Special Tribute to 40 Chinese Insurers"

     Mr. Lan first explained the current status of the insurance industry in the Guangdong-Hong Kong-Macao Greater Bay Area. Through the analysis of the population, GDP, policies, premium income, and the share of the Bay Area in the country, he concluded that the Greater Bay Area shares a greater degree of openness, a rich variety of market players, and obvious advantages in financial and technological resources because of its interconnection, integration, innovation and technology driving forces. Next, from a macro perspective, Mr. Lan believes that the future development of the Greater Bay Area will be a trinity (“integration + digitalization + inclusiveness”). On the one hand, the integrated development process of the Greater Bay Area, policy guarantees, and the extensive cross-border financial needs of residents and companies in the Greater Bay Area are all leading the insurance industry towards integration. On the other hand, he believes that “digitalization” is the important foundation of the integration and innovation of the Greater Bay Area and “digitalization” need to be truly penetrated into the insurance cover of the residents of the three places (i.e., Guangdong, Hong Kong and Macau) as the Bay Area is one of the regions with the largest concentration of technology, capital and talents in the country. The future must be an intelligent era. In addition, innovation and technology are the main ways to achieve universalization, which is the ultimate goal of integrated development.

    The final part is the Q&A session. The students were enthusiastic in asking questions and expressing their views. Mr. Lan answered the students’ questions in great detail through his many years of experience. He also invited the students to visit Hengqin Insurance Building in Zhuhai and hoped to have more opportunities to discuss with the students. The seminar had a successful ending with the warm applause of the students.