On the afternoon of 18 November 2021, the Faculty of Finance of the City University of Macau (CityU Macau) held the Finance Seminar Series [10]—[China Life – GuangFa Bank Joint Lecture] Series (2) on “Introduction to Banking Cross-border Business”—at the Ho Yin Convention Centre. Mr Zhang Guoliang, General Manager of the Personal Finance Department of Guangfa Bank Macau Branch, was invited to share his insights. The seminar was attended by Dean Cheung Wai Kong and Associate Dean Khong Yueng Wah of the Faculty of Finance.

On the basis of the development history of banks’ cross-border business, Mr Zhang introduced Hong Kong Stock Connect, Bond Connect, and Cross-Boundary Wealth Management Connect. He emphasized that the Guangdong-Hong Kong-Macao Greater Bay Area is becoming a key area for the opening-up of China’s financial sector. Within the framework of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the Cross-Boundary Wealth Management Connect Scheme was launched to implement Opinions on Providing Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area by four financial regulators, in order to facilitate cross-border investment by individual Greater Bay Area residents and put into effect important measures and innovative arrangements for the interconnectivity of financial markets. Furthermore, it is expected to promote the development of Macao’s wealth management business and increase the contribution of the modern financial services industry to Macao’s adequate economic diversification. In addition, Mr Zhang introduced other cross-border services, including mortgages, social security, Banking Services Connect, ETC, and Jiesuantong Card.

Mr Zhang summarised the opportunities and challenges for the financial services industry in Macao and cross-border finance in the Greater Bay Area. He also expected new explorations in the financial services industry of the Greater Bay Area in accordance with the Master Plan of the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, including financial product innovation and policy innovation, to gain experience for China’s subsequent reform and opening-up in the financial sector.

At the end, students eagerly raised questions and Mr Zhang patiently answered them. He also encouraged the students of CityU Macau to investigate the development of the financial services industry in the Greater Bay Area, acquire modern financial knowledge, grow into high-end financial talent to meet the demands of the times, and contribute to the reform and opening-up in the financial sector of the Greater Bay Area and the whole country. The participating students benefited a lot from the seminar and were inspired by Mr Zhang. They hoped the Faculty of Finance could organise such high-quality seminars on a regular basis to enrich their knowledge of financial markets and practices.