This year marks the 75th anniversary of the founding of the People’s Republic of China (PRC), the 25th anniversary of the establishment of the Macao Special Administrative Region (MSAR), and the 43rd anniversary of the City University of Macau (CityU). In celebration of this special year, the Faculty of Finance (FOF) organized the Hengqin-Macao Cross-Border Finance Academic Forum: Collaborative Development of Hengqin-Macao Cross-Border Finance at the Taipa Campus. The forum brought together industry elites and specialists from financial institutions and associations in the two places to explore opportunities and challenges in modern finance and cross-border financial businesses. Vice Rector Ip Kuai Peng and Chi Tenghui, director of the Financial Development Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as “Cooperation Zone”), officiated the opening ceremony and delivered opening remarks.

The forum was co-organized by public and private departments, including Monetary Authority of Macao (AMCM), Macau Institute of Financial Services, Financial Development Bureau of the Cooperation Zone, Financial Industry Association of the Cooperation Zone, Hengqin Intelligent Finance Research Institute, Bank of China Macau Branch, Well Link Bank, Industrial and Commercial Bank of China (Macau) Ltd., Luso International Banking Ltd., China Life Insurance (Overseas) Company Ltd. Macau Branch, China Guangfa Bank Macao Branch, Agricultural Bank of China Limited Macao Branch, China Construction Bank Corporation Macau Branch, and Chongwa (Macao) Financial Asset Exchange Co., Ltd. Over a hundred industrial representatives, faculty, and students attended the forum. They were Lou Teng Sam, deputy director of the Financial Development Department of the AMCM, Loi Kin Hou, assistant head of the Financial Development Department of the AMCM; Kong Fanqing, vice chairwoman of the University Council, Pro-Rectors Wicky So Kam Hung and Vince Chu Te Lin.

In his opening remark, Vice Rector Ip Kuai Peng expressed his appreciation to all partners who made this forum happened. He highlighted the Master Plan of the Development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin adopted the “early and pilot implementation” approach and brought significant opportunities for Macao’s modern finance. Vice Rector Ip stated that modern finance has been identified as a key driver for Macao’s economic development, as outlined in the 2024 Policy Address’s “1+4” economic diversification strategy. He mentioned that the forum invited senior scholars and experts from Hengqin and Macao to engage in in-depth discussions and exchanges on the high-quality development of cross-border financial businesses in the Hengqin New Area. “The aim is to deepen cooperation between Guangdong and Macao, promote the development of modern financial industries, and advance Macao’s modern financial industry towards internationalization,” said Vice Rector Ip.

Director Chi Tenghui stated that in recent years, the Cooperation Zone has made new attempts in supporting the integrated development of Hengqin-Macao modern financial industries and has achieved significant breakthroughs. Highlighting the implementation of various financial policies, Director Chi presented key progress made in promoting cross-border flow and services. He also pointed out that the internationalization of the renminbi, especially the development of digital renminbi, has brought more opportunities vitality to Cooperation Zone, in particular to cross-border financial businesses under the support of the unique currency system of Macao.

The event was divided into two parts: Panel Discussions and Academic Seminar. The two Panel Discussions were moderated respectively by Vice Rector Ip Kuai Peng and FOF Dean Adrian Cheung Wai Kong. Representatives and managements from the partnering units took part in the sessions to share their insights in finance studies and the challenges and opportunities brought by advanced technology. The professionals delved into different topics, including the strategic positioning of the Macao in the context of the geopolitical landscape and the Greater Bay Area, industrial ecology and the role of related associations in facilitating collaboration, financial innovation and talent cultivation, legislation and legal frameworks, and efficient cross-border financial channels. They highlighted the adaptation of the “early and pilot implementation” approach to explore innovation and development in finance, so as to spur economic prosperity.

The Academic Seminar was moderated by President of Guangzhou College of Commerce Li Xiao and Dean Adrian Cheung Wai Kong and joined by academics from mainland universities and banks. At the seminar, the scholars examined current state of China’s economy from an academic and research perspectives and discussed various issues related to the cross-border financial development of Hengqin and Macao.