On 20 October 2022, the Faculty of Finance of the City University of Macao held the Finance Seminar Series [6] Bank of China Financial Workshop – First Talk at the Ho Yin Convention Centre. Ms Xinlei Mei, Senior Strategic Analyst in the Strategic Research Team of Bank of China Macau Institute of Finance, who is specialized in Macau economic and financial research, strategic planning and banking policy research, and has 8-year working experience in the financial industry and in well-known consulting firms and business school, was invited to deliver a speech titled “Development and Prospects of Guangdong-Macao In-Depth Cooperation Zone in Hengqin”. Guests attending this seminar include Ms. Ho Soi In, Product Manager of the Integrated Marketing Division and Personal Banking and Channel Management Department, Dean Adrian Cheung and Associate Dean Eva Khong, City University of Macao.

Ms Xinlei Mei first briefly introduced the development history and strategic positioning of the Cooperation Zone to the students. In 2009, Hengqin New Area was officially established as the initial stage of development. It agrees to financial innovation and supports the development of Guangdong Macao Cooperation Industrial Park. In 2015, it was included in the free trade zone stage, and the Hengqin Free Trade Zone was officially listed. In 2018, the Cooperation Zone was established to create conditions for the diversified development of Macao's industry. Hengqin construction and Hengqin-Macao cooperation have entered a new stage of development. There are over 50,000 registered enterprises in Hengqin, including over 4,000 enterprises from Macao. The financial industry is the second major industry in Hengqin District, second only to the tourism industry. As of August 2021, a total of 50,000 Macao residents have purchased houses and lived in the mainland, and more than 40,000 people have participated in insurance in Zhuhai. The quota for Macao's access to Hengqin has been increased to 10,000. In terms of cross-border finance, Macao residents have opened 4,000 personal bank accounts in the mainland, many banks have carried out cross-border banking and cross-border direct loans, implemented cross-border financial channels, and started cross-border people's livelihood payments. More than 6 million cross-border electronic wallets of Greater Bay Area have been traded in the mainland.

Hengqin's plan is based on serving Macao and promoting the integrated development of Hengqin and Macao. The main content can be summarized as promoting the moderate and diversified development of Macao's economy; New platform, new space, new demonstration and new height; Establishing an integrated development pattern of Hengqin and Macao in 2024, establishing an institutional system linking with Macao in 2029, and highlighting one country, two systems in 2035; Developing new industries, new homes, new systems and new systems, as well as a number of safeguard measures. The country has clearly defined the new development model of the Cooperation Zone, which is jointly constructed, managed and shared by Guangdong and Macao. The development of Hengqin through cooperation between Guangdong and Macao will be more rule-based, and the construction of the Cooperation Zone will be supported by system integration innovation. The implementation of specific policies has significantly improved the business environment and opening level of the Cooperation Zone.

Ms Mei mentioned the latest policies on the construction of the Cooperation Zone, including the "Pilot Measures for Foreign-Invested Equity Investment Enterprises in Guangdong-Macao In-Depth Cooperation Zone in Hengqin" issued in December 2021, to attract domestic and foreign asset management Institutions to develop in the cooperation zone, and create more convenient investment environment and institutional guarantee for domestic and foreign funds; The “Special Support Measures for Guangdong Macao In-Depth Cooperation Zone in Hengqin to Support Enterprises to Issue Companies in Macao” encourages enterprises in the cooperation zone to effectively use the Macao bond market for direct financing and enhance the activity of the Macao bond market; In 2022, the "Notice on Preferential Policies for Enterprise Income Tax in the Cooperation Zone" and the "Notice on Preferential Policies for Individual Income Tax in the Cooperation Zone" were issued; It also implements policies to reduce the cost of enterprises and promote the development of the integrated circuit industry, optimize the business environment and living facilities, solve the development difficulties reflected by enterprises in the Cooperation Zone, improve the employment and living standards of Macao residents in the Cooperation Zone, and promote the moderate and diversified development of Macao's economy.

At the end of the sharing session, the students took this valuable opportunity to actively pose questions about the future development and employment direction of Hengqin and Macao, and Dr Chin Lam Chu answered in detail. In the Seminar, students paid attention to the development opportunities of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, and gained a lot through the financial seminar series. The students also expressed their expectations for the sharing of the next finance seminar.