On 29 September 2022, the Faculty of Finance of the City University of Macao held the Finance Seminar Series [3] Well Link Investment Forum – First Talk at the Ho Yin Convention Centre. Mr. Ray Chan, Head of Securities & Nova Taipa Branch President, Retail Banking of Well Link Bank, was invited to deliver a speech titled “Current and Future Perspectives of Macau Wealth Management Market”. Guests attending this seminar include Dean Adrian Cheung and Associate Dean Eva Khong, City University of Macao.

Mr. Ray Chan first introduced Well Link Bank. Well Link Bank was established in 1996, with the advantage of the bank's own background, it strives to build a bond and platform between China and Portuguese-speaking countries. At present, Well Link Bank is owned by Well Link Financial Group, and its affiliated companies include Well Link Life Insurance, Well Link Insurance, Well Link Securities and Well Link Asset Management. Since 2018, the bank has expanded its scale substantially, and currently has seven branches in Macau. Its retail products include premium deposits, securities, credit cards, debit cards, mobile banking services and insurance products.

Mr. Chan introduced the existing categories of financial institutions and their products and services in Macao. Financial institutions in Macau are mainly banks and insurance institutions. Other financial institutions include financial companies that provide financial leasing or payment services, exchange shops and gambling companies. The main services provided by banks include personal and corporate deposits and loans, credit cards, online banking and investment and wealth management. Some banks have launched multi-currency accounts, which can be used to exchange funds within the account at any time. In terms of insurance, he mentioned that in recent years, mainland residents are keen to purchase insurance in Hong Kong and Macao. Compared with mainland insurance, Hong Kong and Macao insurance products have the advantages of more comprehensiveness, diversity, high coverage, high yield and cost-effectiveness.

Mr Chan explained Cross-border Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (Cross-boundary WMC) to the students. Cross-border Wealth Management Connect allows eligible Mainland, Hong Kong and Macao residents in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to invest in wealth management products distributed by banks in the GBA through a closed-loop funds flow channel established between their respective banking systems. The Cross-border WMC consists of the Southbound Scheme and the Northbound Scheme. The Southbound Scheme is designed for eligible residents in the Mainland GBA cities investing in wealth management products distributed by banks in Hong Kong and Macao via designated channels. The Northbound Scheme is for eligible residents in Hong Kong and Macao investing in wealth management products distributed by Mainland banks. These schemes allow business funds to be aligned one by one through accounts to implement closed-loop remittance and closed management of funds. Transfer of funds can be settled cross-border in RMB, and exchange of funds can be completed in the offshore market, enriching the diversity of investment choices for residents in both areas.

Mr. Chan briefly explained private equity funds. Private equity investment funds in Macao investment funds established in accordance with Macao's legal system through legal persons or contracts, raised funds from not more than 50 professional investors in a non-public manner, and invested and managed with the funds raised in accordance with the provisions of the private equity fund management rules. "Non-public form" refers to recruitment that is not open to the public, and is not promoted or sold through any public channel. Mr. Chan then briefly introduced the relevant management regulations and the supervision power of the Monetary Authority of Macao over private equity funds.

At the end of the sharing session, the students took this valuable opportunity to actively raise questions about securities and investment leasing. Mr. Ray Chan answered in detail. In the Seminar, students paid attention to the banking business and market situation in Macao. The students also expressed their expectations for the sharing of the next finance seminar.