On the afternoon of 20 May 2021, the Faculty of Finance held the “40th Anniversary of City University of Macau Finance Seminar Series [20]” at the Ho Yin Convention Centre. Mr Tang Shiqi, Director of the Hengqin Innovative Financial Research Institute, was invited as a guest speaker to share his views on “The Background, Current Situation and Future of Hengqin Guangdong-Macao Deep Cooperation Zone”.
Director Tang started with the background of the in-depth integration of Guangdong and Macao in Hengqin. He first introduced the origin, history and underlying mechanism of the Belt and Road Initiative. Then he explained how to make use of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, components of the Belt and Road Initiative, to rebalance the global economy. The Belt and Road Initiative allows China and countries along the Silk Road to discuss project investment, jointly develop infrastructure, and share the fruits of cooperation, thus achieving road connectivity, unimpeded trade, currency circulation, policy coordination, and people-to-people bonds. It aims to explore new routes to economic growth, rebalance the global economy, and build a community with a shared future for mankind. Director Tang pointed out that the Bay Area economy is first of all an open economy. The world’s three major bay areas—New York Bay Area, San Francisco Bay Area, and Tokyo Bay Area—all feature all-round opening and foreign trade. Under the guidance of the Belt and Road Initiative, the Guangdong-Hong Kong-Macao Greater Bay Area is based on the vast area of the Pan-Pearl River Delta region, seeking to achieve closer cooperation between Guangdong, Hong Kong and Macao. By enhancing its resource allocation capability, agglomeration spillovers, international exchange networks, and interconnectivity, the Greater Bay Area will become a demonstration area for China to further promote opening-up, a leading area for city clusters in China’s southeastern coastal areas, a hub participating in the Belt and Road Initiative to drive global economic development, and a hub for the world-class Bay Area economy. Director Tang also analysed the current in-depth integration of Hengqin and Macao from Macao’s industrial development, project innovation, and real estate purchases in Hengqin. He remarked that it is necessary to stick to the strategic positioning of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin: a new platform to boost Macao’s adequate economic diversification, a new space that provides convenience to Macao residents’ life and employment, a new model to enrich the practice of “one country, two systems”, and a new high ground for building the Guangdong-Hong Kong-Macao Greater Bay Area. Director Tang suggested stepping up efforts in fulfilling main tasks, establishing a mechanism that allows collaborative planning, construction and management for Guangdong and Macao, focusing on advantageous areas and developing new industries, and creating a new high-standard and open system that will facilitate Hengqin-Macao integration.
Students showed great interest in the seminar and actively raised questions, which were all answered by Director Tang in detail. The seminar ended amid warm applause from students. The students affirmed the role of the seminar in enhancing their understanding of the cross-border financial development of Hengqin and Macao and expanding their vision of financial development in the Greater Bay Area. They all benefited a lot from the seminar. Based on the University’s teaching philosophy of integrating enterprises, universities, and research institutions, the Faculty of Finance will arrange more financial seminars and visits in the following semester, in a bid to enrich students’ theoretical and practical knowledge.
