On the afternoon of 8 April 2021, the Faculty of Finance held the “40th Anniversary of City University of Macau Finance Seminar Series [16]” at the Ho Yin Convention Centre. Professor Fu Zhengping, Dean of the Institute of Free Trade Zones, Sun Yat-sen University, was invited as a guest speaker at the online seminar to share his views on “A Comparative Analysis of Free Trade Zones of Qianhai, Nansha and Hengqin”. The seminar was attended by Dean Cheung Wai Kong and Associate Dean Khong Yueng Wah of the Faculty of Finance. 

 

 

Professor Fu analysed the reform and innovation of the three free trade zones in Qianhai, Hengqin and Nansha, and introduced the background, mission, nature and strategic positioning of the China (Guangdong) Pilot Free Trade Zone. Depending on Hong Kong and Macao, serving mainland China, and facing the world, the China (Guangdong) Pilot Free Trade Zone will be built into a demonstration zone for in-depth cooperation between Guangdong, Hong Kong and Macao, an important hub for the 21st Century Maritime Silk Road, and a pilot zone for China’s new round of reform and opening-up. According to Professor Fu, the obstacles to the free flow of factors between Guangdong, Hong Kong and Macao can be eliminated through institutional innovation. The China (Guangdong) Pilot Free Trade Zone covers an area of 116.2 square kilometres, constituting three districts: the Nansha New Area of Guangzhou, a district of 60 square kilometres (including the 7.06-square-kilometre Nansha Bonded Port Area), the Qianhai and Shekou Area of Shenzhen, a district of 28.2 square kilometres (including the 3.71-square-kilometre Qianhai Bay Bonded Port Area), and the Hengqin New Area of Zhuhai, a district of 28 square kilometres. Professor Fu sorted out the functional positioning of the three districts from the regional layout, customs supervision means, and preferential fiscal and tax policies. In this way he identified the various advantages of the three districts. The Qianhai Free Trade Zone is both a pilot free trade zone and a demonstration zone for Shenzhen–Hong Kong cooperation in the modern service industry, enjoying preferential tax policies. The Nansha Free Trade Zone is both a free trade zone and a state-level new area, enjoying double preferential policies. It has the largest land reserve among the three free trade zones, providing industrial space for deepening cooperation between Guangdong, Hong Kong and Macao and addressing the issue of insufficient land in Hong Kong and Macao. The Hengqin Free Trade Zone borders Macao, making it convenient for Hengqin to carry out close cooperation with Macao and establish trade contacts with Portuguese- and Spanish-speaking countries. Professor Fu further discussed the financial opening-up and innovation progress of the Qianhai Free Trade Zone, the innovation and development progress of the Nansha Free Trade Zone, and the development of the Hengqin Free Trade Zone. In the end, he analysed the trends in financial opening-up and innovation in these free trade zones. 

 

 

Students showed great interest in the topic and actively asked questions about the collaboration and planning, talent pooling and training, and policy support and arrangements of the Nansha Free Trade Zone, Qianhai Free Trade Zone and Hengqin Free Trade Zone, which were all answered by Professor Fu in detail. The seminar ended amid warm applause from students. This seminar was the 16th financial seminar held by the Faculty of Finance in celebration of the 40th anniversary of CityU Macau. The Faculty of Finance has been inviting corporate executives, experts and scholars of the financial services industry from Guangdong, Hong Kong and Macao to provide students with financial information and trends concerning free trade zones, in a bid to enrich students’ financial knowledge of the Guangdong-Hong Kong-Macao Greater Bay Area.