On 24th April 2025, the Faculty of Finance of City University of Macau held a finance seminar at Ho Yin Conference Center, Taipa Campus. The seminar featured Dr. Chin Lam Chu, Chairman of Macau Asset Management Association, as the keynote speaker. His presentation was titled "The Development of Wealth Management in Modern Financial Industry in 2025." Guests attending the seminar included President Mr. Miguel Lao, Supervisor Mr. Stanley Ho, Vice President Miss Kaman Lai, Vice Supervisor Miss Miki Lei and General Affairs Secretary Miss Kimi Hui of Macau Asset Management Association, as well as Dean Adrian Cheung and Associate Dean Eva Khong of the Faculty of Finance, City University of Macau.

At the beginning of the seminar, Dr. Chu shared the latest developments in China's financial industry and the Guangdong-Hong Kong-Macau Greater Bay Area. According to the GDP data of the Greater Bay Area in 2024, the total amount is close to RMB 14.8 trillion. According to the Report on Reform and Innovation of Guangdong-Hong Kong-Macau Greater Bay Area in China, in 2023, among the four major bay areas in the world, the Greater Bay Area's total economic output has surpassed the San Francisco Bay Area by US$1.38 trillion and the New York Bay Area by US$1.8 trillion, and is similar to that of the Tokyo Bay Area. In 2024, the total GDP of the nine cities in the Greater Bay Area has exceeded RMB 11.5 trillion, of which more than RMB 3 trillion is from Shenzhen and Guangzhou, and more than RMB 1 trillion is from Foshan and Dongguan. The Bay Area has a population of 86 million, and cities with a permanent population of tens of millions include Guangzhou, Shenzhen, and Dongguan. According to the Hurun Wealth Report 2024, the number of high-net-worth households in Guangdong Province with assets of tens of millions has reached 298,000, indicating strong demand for wealth management and risk protection in the region. In the future, as the integration of the Guangdong-Hong Kong-Macao Greater Bay Area progresses, Macau can leverage its institutional advantages to develop the wealth management industry.

According to data from the National Financial Regulatory Administration, by the end of December 2024, China's total banking assets reached RMB 444.6 trillion, it increased by 6.5% year-on-year. and the total assets of the insurance industry were RMB 35.9 trillion, it increased by 13.9% year-on-year. The total amount of residents' deposits in China is about RBM 151.25 trillion, while the insurance premium income in 2024 about RMB 5.7 trillion (RMB 1.43 trillion for property insurance and RMB 4.26 trillion for life insurance).

Financial industry of Macau is mainly composed of banking and insurance. According to data from the Monetary Authority of Macao, as of June 2024, the total assets of the financial industry are approximately MOP 2.7 trillion. Macao’s banking industry has a healthy capital adequacy ratio. According to The Banker magazine’s 2024 list of the world’s top 100 banks, eight of the top fifteen banks have branches in Macao and have sufficient Tier 1 capital. In the insurance industry, data from the Monetary Authority of Macao showed that mainland visitors contributed 45% of new personal business premiums in the first three quarters of 2024, and the industry's total premiums increased from 28.5 billion in 2019 to 37.1 billion in 2023. Brand Finance’s 2024 list of the world’s top 100 most valuable insurance brands shows that 5 of the top 10 insurance companies have branches in Macau. According to statistics from the Guangdong Branch of the Bank of China, From February to December 2024, the pilot banks of "Cross-border Wealth Management Connect 2.0" handled cross-border fund remittances through a closed-loop fund remittance channel, Compared with Cross-border Wealth Management Connect Scheme 1.0, it has increased by 6.2 times and the amount has reached RMB 85.67 billion.

In the Guangdong-Hong Kong-Macao Greater Bay Area, driven by the policies of the Hengqin-Shenzhen Cooperation Zone and Cross-Border Wealth Management Connect Scheme 2.0, coupled with the continuous improvement of financial regulations and the cultivation of professional talents, can seize regional wealth management opportunities.

This seminar enabled students more focus on the current status and future trends of asset management and wealth management in Macau, the Greater Bay Area and even internationally, contributing to the continuous healthy development of Macau's financial industry. With the deepening cooperation in the Guangdong-Hong Kong-Macau Greater Bay Area and the implementation of policies like Cross-boundary Wealth Management Connect Scheme, Macau's status as an international financial center will be further solidified, contributing more to the economic development of the region and the globe. Students benefited greatly from the seminar. The Faculty of Finance at City University of Macau extended heartfelt thanks to Dr. Chin Lam Chu, Chairman of Macau Asset Management Association, for his insightful sharing. The Faculty of Finance will continue to organize such events, focusing on nurturing modern financial talents.