On the afternoon of 7th January 11, 2022, the Finance seminar series [11] Bank of China Financial Workshop series (2) was held by the Faculty of Finance in the Ho Yin Convention Center. Ms. Cao Xiaomin, Deputy General Manager of the Risk Management Department, Bank of China, Macau, was invited to deliver a speech titled "Take Social Responsibility, Together for Sustainable Finance Development". Guests attending this seminar include Ms. Ho Soi In, Product Manager of the Intergrated Marketing Division and Personal Banking and Channel Management Department, Dean Cheung Wai Kong, and Associate Dean Khong Yueng Wah of the Faculty of Finance of the City University of Macau.

First of all, Dean Adrian Wai Kong Cheung introduced Ms. Cao Xiaomin, an experienced banker who had been working with the Risk Management Department of the Bank of China for many years. She participated in WTO accession negotiations, the implementation of the Basel Capital Accord, and the application of RAROC in the Credit Risk Management for the Bank. Dean Cheung gave a warm welcome to Ms. Cao Xiaomin and Ms. Ho Soi In and encouraged graduate students who attended this seminar to expand their thinking and study the hot topic of finance, "green finance," in depth.

Ms. Cao started with the definition of green finance, background, motivation, and the general situation of green finance development in the world and China. Ms. Cao took China as an example to analyze in detail how green finance was formed, developed and implemented in China. In order to help achieve the strategic goals of "peaking carbon dioxide emissions" and "carbon neutrality", China has initially established green finance development policies with "three functions" and "five pillars" as the overall national green finance framework, and has divided green industries into six industries. She pointed out that green finance in China has achieved remarkable results, and the market scale has been continuously and gradually aligning with international standards. However, in general, China’s green finance is still at a preliminary stage with inadequacy in many aspects. China can learn from the advanced experience of developed countries.

In addition, Ms. Cao pointed out that in the process of achieving carbon neutrality goals, promoting the construction of ecological civilization in China, and implementing green development, the green financial system has undertaken the important task of raising hundreds of trillions of capital from the society to invest in green and low-carbon projects. She introduced the achievements of the Bank of China in fulfilling its dual carbon responsibility, promoting the development of green finance, and enhancing its social responsibility performance. She added that due to the limited space and lack of natural resources in Macau, green and low-carbon development are urgently needed. The Macau government supports Macau’s financial services to move towards green and sustainable development, gradually enriching the content of Macau’s financial market, boosting local business development, and realizing the transformation of the economy and industrial structure.

This seminar was the first seminar held by the Faculty of Finance in the second semester of the 2021–2022-academic year. Attendees actively involved themselves in the seminar and Q&A section, gained a better understanding of the importance of green finance to the development of China and Macao, and looked forward to the next seminar.

Recording: 

https://us06web.zoom.us/rec/share/-SfBoa8MC5npMlD1lj5Vc3Z9lCEO8UcMqZBVvG8-JhJCEfNJ7UqoOhksEbKSjA0K.PRBzT_cuT-JiR-_I

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