On 20th March 2025, the Faculty of Finance of City University of Macau recently held a finance seminar at Ho Yin Conference Center, Taipa Campus, inviting. The seminar featured Dr. Ren Tao, a distinguished researcher at the National Financial and Development Laboratory, a senior researcher at the Shanghai Financial and Development Laboratory and director of the Economic Research Center at Macau International Bank as the keynote speaker. His presentation focused on the theme "The Past, Present, and Future of Modern Finance in Macau." Attendees included Dean Adrian Cheung and Associate Dean Eva Khong of the Faculty of Finance.

Dr. Ren highlighted that since 2015, Macau has transitioned from a focus on finance to featured finance, and now to modern finance. The "2024 Fiscal Policy Report" emphasizes the priority of developing the bond market, improving legal regulations in the financial sector, accelerating the legislative process for the Securities Law, promoting innovations in financial technology to assist in the development of modern finance, and optimizing services for the convenience of citizens and businesses. The report also discusses exploring optimization measures for the "Cross-Border Wealth Management Connect" initiative with relevant authorities in the Mainland and Hong Kong, studying tax incentives to encourage asset management companies to establish a presence in Macau, and investigating the introduction of digital currency into the monetary system to align with the development of the digital economy. This is aimed at fostering a new type of financial industry with an actively open yet rigorously regulated approach while promoting new licensed financial institutions to serve local small and medium-sized enterprises (SMEs).

During the discussion on the current state of Macau's modern finance, Dr. Ren mentioned that the Macau Online Exchange (MOX) has become a new option for Asian issuers, with more than half of the new international bonds listed in Macau in 2023. Additionally, by the end of 2023, Macau's banking wealth management clientele surpassed 510,000, with an investment portfolio valued at MOP 224.2 billion—an increase of 41.6% compared to that of 2016. This demonstrates a growing demand for wealth management services among Macau's residents, as their awareness of wealth management continues to grow year by year. 

In his outlook on the future of modern finance in Macau, Dr. Ren suggested fostering deeper cross-border financial development through three key areas: integration between Macau and mainland China, connectivity between Hong Kong and Macau, and collaboration within the Greater Bay Area. He stressed the importance of leveraging the benefits of Greater Bay Area policies to enhance the international competitiveness of Macau's financial markets.

Students engaged actively with Dr. Ren during the seminar, which provided them with a deeper understanding of the overall state of modern finance in Macau. He also offered guidance and career development advice for students interested in pursuing a career in the financial sector within the Guangdong-Hong Kong-Macau Greater Bay Area. The Faculty of Finance at Macau City University extends its heartfelt gratitude to Dr. Ren Tao for his insightful presentation and looks forward to organizing more such seminars to broaden students' horizons and deepen their understanding of the financial industry in Macau.