On November 18, Dean Adrian Cheung and Associate Dean Eva Khong of the City University of Macau's Faculty of Finance, led a group of enthusiastic and innovative PhD students (hereinafter referred to as the "Research Team") to the Guangdong-Macao Intensive Cooperation Zone (hereinafter referred to as the "Cooperation Zone").  During their visit, the Research Team engaged in discussions and site visits with the Hengqin Guangdong-Macao Deep Cooperation Financial Industry Association (hereinafter referred to as "Hengqin Financial Association") and its member organizations. This initiative aimed to enhance the Research Team's understanding of the financial development in the Cooperation Zone and the cross-border financial collaboration between Macao and Hengqin.  The visit also sought to promote communication and collaboration between Macao educational institutions and the modern financial industry in the Cooperation Zone in aspects of industry-academia research and development integration.

The Research Team commenced their visit by exploring the Shenzhen United Financial Holdings Co., Ltd. (hereinafter referred to as "United Financial"), a council member of the Hengqin Financial Association. United Financial is a large financial holding group with core businesses in financial services outsourcing, fintech, industrial park investment and operations, gold trading, and industrial investment. The company operates in over 200 cities across Mainland China, Hong Kong, and Macao, actively promoting the development of various services in the fintech sector, including investment in fintech industries, financial software platform development, and financial asset management. The company’s specialized financial industry parks are located in cities such as Shenzhen, Shanghai, Hengqin Zhuhai, Dongguan Songshan Lake, and Changsha. Notably, the Zhuhai Financial Valley (Macao Financial Center) is positioned to leverage the Greater Bay Area while radiating globally, aiming to create a comprehensive financial platform in Hengqin that integrates headquarters for financial enterprises, industrial innovation, technological incubation, and industrial services. This initiative serves as a vehicle to enhance Macao's financial infrastructure and service capabilities while promoting financial connectivity between Macao and Hengqin, fulfilling the important mission of being a "connector" for Hong Kong and Macao's financial development. During their visit to United Financial, the Research Team engaged in in-depth discussions with company executives, gaining a clearer understanding of the company’s operational model, financial product design, and risk control systems. The executives provided detailed insights into the company’s latest achievements and future plans in financial innovation, services, and technology, sharing invaluable industry experiences. Dean Adrian Cheung expressed gratitude for the warm reception from United Financial, while the students enthusiastically posed questions, engaging in a thorough interaction with the executives to discuss hot topics and development trends in the financial sector.

Following their visit to United Financial, the Research Team proceeded to engage in discussions at the Hengqin Guangdong-Macao Deep Cooperation Financial Industry Association. Established on January 28, 2016, the Association was jointly initiated by ten key financial institutions in the zone to meet the needs of the modern financial industry's development in the Cooperation Zone. It is a comprehensive, non-profit social organization registered under the law.

As the first organization in the Cooperation Zone rated as a 5A-level social organization, and a rotating chair unit of the 4th National Financial Industry Association Joint Meeting, as well as a member of the Guangdong-Hong Kong-Macao Greater Bay Area Green Finance Alliance, Hengqin Financial Association is guided by principles of financial innovation, collaborative culture, open organization, and effective services.  Its aims are to integrate financial industry resources within the Cooperation Zone, innovate financial models, and standardize industry development. The A ssociation actively organizes and brings together these resources from the finance sector and various communities to fulfill its "self-discipline, rights protection, coordination, and service" functions. The focus is on serving financial enterprises in the Cooperation Zone, promoting cooperation between Macao and Hengqin, and establishing a communication platform for interaction within the financial industries of Guangdong, Hong Kong, and Macao. This concerted effort contributes to the financial development of the Greater Bay Area and supports Macao’s moderate and diversified economic development.

At the beginning of the discussion, a promotional video, utilizing vivid visual materials, showcased the Cooperation Zone as a significant hub in the Guangdong-Hong Kong-Macao Greater Bay Area, highlighting how its unique geographic location and policy advantages provide a solid foundation for rapid financial industry development. The faculty and students gained a comprehensive understanding of the development history, geographical advantages, policy environment, and the flourishing financial industry of the Guangdong-Macao Intensive Cooperation Zone.

During the sharing session, Secretary-General Chen Yanling of the Hengqin Financial Association provided an in-depth introduction to the institutional guarantees for developing modern financial industries in the Cooperation Zone, innovations in cross-border financial cooperation between Macao and Hengqin, well-known cases, and the latest data on the modern financial industry within the Cooperation Zone. She emphasized that as the Cooperation Zone actively cultivates an international financial ecosystem and further promotes financial innovation and openness, there will be more practical cases emerging in cross-border financial cooperation between Macao and Hengqin. This includes enhancing financial services for the community, facilitating industrial development, and promoting interconnectivity in financial markets, which will in turn drive further institutional reform and innovation, exploring new models and pathways for cross-border financial services.