On November 16, 2023, the Faculty of Finance at the City University of Macau organized the Finance Seminar Series [9], China Life - GuangFa Bank Joint Lecture – Second Talk at the Ho Yin Convention Center. The seminar titled " Financial Advantages of Hong Kong and Macao Relevant to You" featured Ms. Huili Chen, Wealth Manager at China Life Insurance (Overseas) Company Ltd., Macau Branch as the guest speaker. She shared her analysis and insights on trends in the insurance industry. Guests attending this seminar include Mr. Chaohui Jin, Manager, China Life Insurance (Overseas) Company Ltd., Macau Branch, Mr. Paul Chan, Head of the Individual Agency Department at China Life Insurance (Overseas) Company Ltd., Macau Branch, and Associate Professor and Dr. Yang Ting, Course Coordinator of Master's Degree Programme, from Faculty of Finance, City University of Macau.
In this seminar, Ms. Huili Chen, first discussed the market demands in the financial industry, highlighting the top concerns of high-net-worth individuals regarding health, children's education, and asset utilization and management. High-net-worth individuals prioritize maintaining or increasing their existing wealth. However, in recent years, there have been numerous uncertainties related to geopolitics, and related news of frozen assets in foreign countries. As a result, clients are actively seeking new investment destinations to enhance their wealth.
Ms. Chen, believes that Hong Kong and Macau have certain investment appeal to high-net-worth individuals. She presented a clear analysis of the trends and basis for the more stable development of the insurance industry in Hong Kong and Macau compared to other regions. Currently, Hong Kong, London in the UK, and New York in the US are the three major global financial centers. Hong Kong, with no foreign exchange controls and trade freedom, coupled with its stable economic environment supported by the mainland, maintains an unshakable position as an international financial center. It is expected to surpass Switzerland and become the world's largest offshore financial center by 2027. The Macau government recently renewed licenses with six major gaming companies for another ten years. These companies have committed to expanding their market share and investing over 100 billion Macau patacas in non-gaming projects, enhancing Macau's international image and attractiveness to tourists. The gaming industry in Macau is expected to have a positive and proactive role in promoting the development of the tourism industry and other sectors.
Ms. Chen, also briefly explained the characteristics of insurance in Hong Kong and Macau, introducing the main features of savings-based participating policies, critical illness insurance, medical insurance, and high-value life insurance products. She pointed out that life insurance and critical illness insurance with savings components are the main products that mainland customers prefer to purchase. She also shared tips with the students on how to develop good work habits and leverage the advantages of Hong Kong and Macau. For example, continuously providing financial and lifestyle information on social media platforms to strengthen interaction with clients and explore multiple sources of customers.
During the Q&A session at the end of the seminar, Ms. Chen, kindly addressed the students' questions and encouraged them to make good use of the advantages of Hong Kong and Macau, seize market opportunities, and pursue careers in the financial insurance industry. The faculty and students of the School of Finance would like to express their gratitude to Ms. Huili Chen for her excellent presentation. Her speech has enhanced the students' understanding of financial wealth management, and they are eagerly looking forward to the next financial topic sharing session.