A picture of Prof. Li Yi Ning and the other guests of honor.
Front (From left to right): Ms. Lau Kuan Va, Mr. Pu Hai Long, Mr. Chan Sau San, Prof. Li Yi Ning, Mr. Chen Xiang, Mr. Li Yang, Mr. Lau Wai Meng.
Back (from left to right): Mr. Yao Wei, Mr. Fu Shuai Xiong, Mr. Si Ka Lon, Mr. Wu Tat Chong, Mr. Luo Jie, Mr. Wen Jie Chen, Mr. Song Xiao He, Prof. Liu Liang, Mr. Xie Zhang Shu, Mr. Ma Wan Yi, Ms. Huan Xiao Jing.
Directed by the Economic Affairs Department of the Liaison Office of the Central People’s Government in Macau SAR, hosted by China Enterprises Investment Association, Macau University of Science and Technology, and Guangdong and Macau Federation of Industry and Commerce, and organized by New Loyal Group Company Limited, “Lecture on Macau Finance and Economy” was held at N101 of MUST Library building on May 19th, 2016. Director of Office of Social Sciences, Peking University, Honorary President of Guanghua School of Management, Vice Chairman of China Enterprises Investment Association, and a well-known economist – Prof. Li Yi Ning was invited as the key speaker. Prof. Li’s lecture on “The Current Economic Situation in China and the Financial Prospect in Macau” attracted more than 250 audiences and was well received.
Prof. Liu Liang delivered an opening speech
In his opening speech, MUST President Prof. Liu Liang said that Macau had already entered an era of transformation, development, and revolution. As one of the top hundred youngest universities in the cross-strait region, MUST has always held fast to the value of “cultural diversity, internationalization, social commitment, and creativity”, which coincide with the topic of Prof. Li’s lecture. Prof. Liu believed that Prof. Li’s speech would inspire MUST teachers and students, encouraging them to devote themselves for the economic and social development in Macau.
Mr. Si Ka Lon delivered an opening speech
Mr. Si Ka Lon, Chairman of Guangdong and Macau Federation of Industry and Commerce, suggested in his speech that Macau government should make good use of talents, licenses, and capital to set up the economic policy, which, with “Supply Side Reform” and China-Portugal key projects, would boost the trade between the two countries, and help to establish a financing platform and an equity trading platform.
Prof. Li Yi Ning Gave a Lecture on “The Current Economic Situation in China and the Financial Prospect in Macau”
Prof. Li’s speech was divided into several parts -- “the prospect of private economy”, “Supply Side Structural Reform”, “state-owned-enterprises reform”, “agriculture industrialization, rural communitization and farmer specialization”, “new human resource and demographic dividend”, and the role Macau plays in the policy of “the Belt and Road”, to explain the current economic situation in China and the financial prospect in Macau.
Prof. Li stated that Chinese economy had developed rapidly and now the economic growth remained slow and stable like the shape of “L”, which accorded with the law of economic development. Private economy is an important part of market economy. Therefore, the policy on private economy should be put in place. “Supply Side Structural Reform” means a long-term management on structural adjustment, the key of which is over-capacity reduction. At the same time, the employees from unprofitable companies should be provided with training programs to speed up the development of technology, management and marketing innovation. According to the special situations in different enterprises and industries, state-owned enterprises carry out mixed-ownership economy and improve the administration of enterprise legal representative. Agriculture industrialization should be realized through family farm management and cooperative management. Rural demographic dividend has not been disappearing due to the labor force that returns from the city, which has become the new blood in rural areas. Prof. Li pointed out that besides market and government regulation, there was a third regulation that economic regulation was strongly associated with – morality regulation. It means everyone should have self-discipline and comply with laws.
When it came to Macau’s development, Prof. Li said that the city had three advantages: it served as a bridge connecting Portuguese-speaking countries; it was a port that led the Southern China to the world; it had the potential to develop financial industry. To achieve the goal, policy support and introduction of talents are needed. Using the example of Luxemburg which had changed from a city dominated by steel industry into an important economic center in Europe, Prof. Li said Macau could borrow Luxemburg’s duty free policy to develop its economy.
Mr. Song Xiao He delivered the closing speech
In the closing address, Mr. Song Xiao He, Secretary General of China Enterprises Investment Association said that Prof. Li’s speech provided an accurate explanation of “Supply Side Structural Reform”, state-owned-enterprises reform, agricultural and rural reform, new human resource and demographic dividend, which showed a picture of prosperous future of private economy in China. More importantly, by analyzing the advantages and potential of Macau, and its uniqueness in the national policy of “the Belt and Road”, Prof. Li pointed out that the city’s future depended on young people’s dedication and innovation. Mr. Song believed that Prof. Li’s speech could inspire them to strive for a bright future.
The guests of honor that attended that lecture included: Mr. Chan Sau San, member of Administrative Committee of Macau Monetary Authority and representative of Office of the Secretary for Economy and Finance, Mr. Chen Xiang, Vice Director of Trade Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government in Macau SAR, Mr. Fu Hai Long, Vice Director of Department of Culture and Education, Liaison Office of the Central People’s Government in the Macau SAR, Mr. Li Yang, Vice Director of Policy Research Department, Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macau SAR, Ms. Lau Kuan Va, Deputy Chairman of Macau Trade and Investment Promotion Institute, Mr. Lau Wai Meng, Deputy Director of Macau Economic Services, Mr. Wen Jie Chen, Consultant of China Enterprises Investment Association, Mr. Song Xiao He, Secretary General of China Enterprises Investment Association, Mr. Luo Jie, Director of Education and Culture Committee, Mr. Wu Tat Chong, Chairman of New Loyal Group Company Limited, Prof. Liu Liang, President of MUST, Mr. Si Ka Lon, Chairman of Guangdong and Macau Federation of Industry and Commerce, Mr. Xie Zhang Shu, Secretary of China Enterprises Investment Association, Mr. Fu Shuai Xiong, Vice Director of Party Committee Office, Guanghua School of Management, Mr. Ma Wan Yi, Secretary General Assistant of China Enterprises Investment Association, Mr. Yao Wei, Vice Director of Minjin National Education Committee, and Ms. Huan Xiao Jing, Director from China Enterprises Investment Association.
