To celebrate the 41st anniversary of the City University of Macau (CityU Macau), the Faculty of Finance (FOF) hosted the Hengqin-Macao Cross-Border Finance Forum today at the Cultural Centre of the Taipa campus. The forum invited leading industrial institutions and associations to explore the trend of modern financial development in Hengqin and Macao and the opportunities and challenges of cross-border financial business. Prof Jun Liu, Rector of CityU Macau, Mr Benjamin Chan Sau San, Chairman of Board of Directors of Monetary Authority of Macao, and Mr Chi Tenghui, Acting Director of Financial Development Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, officiated the opening of the forum and delivered their respective keynote address.
The event was co-organised by various financial institutions in the two places, namely Macau Institute of Financial Services, Financial Development Bureau of the Hengqin Finance Association, Hengqin Finance Association, Hengqin Intelligent Finance Research Institute, Hengqin Life Insurance Company Limited, Bank of China Macau Branch, Industrial and Commercial Bank of China (Macau) Limited, Luso International Banking Limited, China Life Insurance (Overseas) Company Limited, China Guangfa Bank Macao Branch. The forum drew over 100 people to participate, including leaders and representatives from financial industry, also teachers and students.
In his opening address, Rector Liu expressed his gratitude to the partner organisations that made this forum possible. He pointed out that the Master Plan of the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin has given an advantage of “early and pilot implementation” to the Cooperation Zone, which brought great opportunities for the development of modern financial industry in Macao. The modern financial industry is one of the key development areas listed in Macao’s Policy Address this year, and also a vital part of promoting the development of the Cooperation Zone. In view of this, FOF of CityU Macau hosted this forum to invite senior scholars and experts from Macao and Hengqin to give advice and suggestions on the implementation and long-term development of cross-border financial services in Hengqin New Area, with a view to further deepening the cooperation between Macao and Guangdong and promoting the development of featured financial services in Macao and the development of Hengqin.
On behalf of the Monetary Authority of Macao, Mr Chan Sau San congratulated the 41st anniversary of CityU Macau in his address via virtual conference. He pointed out that even through Macao’s economy has been affected by the pandemic, it will also accelerate the transformation of the local economy into a period conducive to the long-term development of Macao. In line with the the Master Plan of the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, the governments of Guangdong and Macao are actively seeking supports from the Central Government to the financial policies, hoping to build a bank account system in the Cooperation Zone that is compatible with the open financial system of Macao and meets the needs for the Real Economy and people’s livelihood. He believed that Macao’s modern financial industry will benefit from the synergistic development of the two places and effectively perform its function as an investment and financing platform that connects Macao to the world.
In his speech, Mr Chi Tenghui pointed out that the Master Plan of the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin explicitly supports the development of modern financial services, reflecting the importance of the financial industry and that the new mechanism of “Mutual Discussion, Joint Construction, Joint Administration and Shared Benefits” of governments of Guangdong and Macao in the Cooperation Zone brings opportunities for the rapid development of modern financial services, Last year, two financial policies were introduced with the objective of promoting the diversified development of Macao industries and exploring more possibilities for cross-border financial services. Mr Chi also welcomed Macao’s financial sector to conduct field visits to the Cooperation Zone and to participate in the development of the integration of Macao and Hengqin.
The forum was moderated by Prof Cheung Wai Kong, Dean of FOF, with industry experts sharing their experiences and insights online and in person. They were: Mr Li Xiao, a renowned national talent, President of Guangzhou College of Commerce, Director of Hengqin Intelligent Finance Research Institute cum Chief Economist, Mr Lan Yadong, Chairman of Hengqin Life Insurance Company Limited, Ms Chen Yanling, Secretary-General of Hengqin Finance Association, Mr Yang Hao, Deputy General Manager of Bank of China Macau Branch, Mr Zhang Aihua, General Manager of China Guangfa Bank Macao Branch, Mr Zhou Shijun, General Manager of China Life Insurance (Overseas) Company Limited Macau Branch, Mr Baifan, General Manager of Retail Operations Department of Luso International Banking Limited, and Mr Zhang Yang, Assistant General Manager of Industrial and Commercial Bank of China (Macau) Limited.
During the sharing session, the guests mainly focused on the future development opportunities of cross-border financial services in the Cooperation Zone, sharing their insights and giving advice from the perspective of the financial industry. The forum attracting many teachers, students and audience to participate in question-answer session. The forum not only provided students with an in-depth understanding of the significance of the master Plan of the Cooperation Zone to Macao, but also laid the foundation for the future collaboration between Hengqin and Macao and Macao's moderately economic diversification, and promoted a closer exchanges and collaborations between the governments and financial institutions of the two places.
Guests attending the forum also included: Ms Kun Wai Leng, Secretary General of Macau Institute of Financial Services, Prof Kong Fanqing, Vice-Rector of CityU Macau, Prof Ip Kuai Peng, Ms Cintia Chan, Wicky So, Mr Robert Chan, Pro-Rectors of CityU Macau, Ms Serena Lao, Director of Finance of CityU, and Prof Eva Khong, Associate Dean of FOF.