On September 5, 2024, the Financial Seminar Series [2] organized by the Faculty of Finance at the City University of Macau was held at the Ho Yin Convention Centre on Taipa Campus. The Seminar featured Dean Yanhua Mao of the Institute of Regional Opening and Cooperation at Sun Yat-sen University (SYSU-IROC) as the keynote speaker, who shared insights on the topic "Interconnection and Integrated Development of Guangdong-Hong Kong-Macao Greater Bay Area". Guests attending this seminar include Dean Adrian Cheung and Associate Dean Eva Khong of the Faculty of Finance, City University of Macau.
Professor Mao currently serves as the Dean of the Institute of Regional Opening and Cooperation at Sun Yat-sen University (SYSU-IROC), Professor and Doctoral Supervisor at the Center for Studies of Hong Kong, Macao and Pearl River Delta Key Research Institute of Humanities and Social Sciences in Universities, and the Director of the Center for High-Quality Economic Development Research at Sun Yat-sen University. He has long been engaged in teaching and research in the fields of regional economics, international trade, cooperation between Guangdong, Hong Kong, and Macao, free trade zone strategies, and the Belt and Road Initiative. He has conducted academic exchanges and research at overseas universities such as the Chinese University of Hong Kong, Waseda University, and New York University. He has been appointed as a member of the expert committee for Guangdong Province's 14th Five-Year Plan, a member of the decision-making advisory committee of the Guangzhou Municipal Government, and the Deputy Director of the Professional Committee on Free Trade Zones (Hong Kong) of the China Association of Regional Science. He has published over 100 academic papers in journals such as "Economic Research" and authored seven books, including the book about forty years of Guangdong-Hong Kong-Macao Cooperation. He has also been awarded the highest prize in international trade, the "An Zijie" International Trade Research Award.
Professor Mao's lecture was divided into four main parts: the evolution logic and stages of cooperation between Guangdong, Hong Kong, and Macau; the basic facts and theoretical foundation of the Greater Bay Area’s development; the achievements in interconnectivity and integrated development within the Greater Bay Area; and the direction for deepening interconnectivity in the new phase. This forum aimed to explore the future development of the Greater Bay Area, providing theoretical support and practical guidance for regional cooperation.
From an economic perspective, Professor Mao analyzed that the cooperation and development of the Guangdong-Hong Kong-Macau Greater Bay Area can be seen as a process of regional economic integration, driving institutional innovation, promoting industrial division of labor, and achieving economies of scale and specialization. The Guangdong-Hong Kong-Macau Greater Bay Area is a cross-border regional cooperation characterized by "one country, two systems, three customs zones, three legal systems, and four core cities," representing a process of regional integration within a unique institutional environment. Compared to international bay areas and domestic inter-provincial cooperation, the Guangdong-Hong Kong-Macau Greater Bay Area exhibits significant differences in systems, regulations, and administrative procedures across the three regions, making it a distinct form of regional integration. This "differentiation" is what gives the Greater Bay Area its unique value.
Professor Mao also mentioned that the central government places great emphasis on and strongly supports the development of the Guangdong-Hong Kong-Macau Greater Bay Area. The planning and construction of the Greater Bay Area is not only a new attempt to promote a comprehensive opening-up in the new era but also a new practice in advancing the “One Country Two Systems” initiative. To enhance the level of market integration in the Greater Bay Area, institutional and mechanism innovations should be accelerated, continuously improving the capacity for resource allocation in the region, thereby positioning it as a key hub and connection point for both the domestic economic cycle and the international dual circulation strategy.
Finally, the Faculty of Finance at the City University of Macau expressed its sincere gratitude to Professor Mao for his insightful presentation. Professor Mao's seminar not only provided profound theoretical support and valuable practical guidance to the faculty and students but also offered important insights and suggestions for promoting the continuous development of the Guangdong-Hong Kong-Macau Greater Bay Area. Through this seminar, students gained key guidance and deep inspiration regarding future development, with many expressing that they benefited greatly and feel more confident in their future academic research and career planning.