Macao Economy Forum : Fin Tech Innovation and Construction of Guangdong-Hong Kong-Macao Greater Bay Area

To celebrate the 19th anniversary of Macau University of Science and Technology, MSB held the “Macao Economy Forum: Fin Tech Innovation and Construction of Guangdong-Hong Kong-Macao Greater Bay Area” at N214 in library on March 29. Dr. Toa Charm, Associate Professor of The Chinese University of Hong Kong and Director of the Asia-Pacific Institute of Business, former Public Mission Director of Hong Kong Cyberport, Prof. Zhang Xiaodong, Vice President and Secretary General of the Chinese Society of Management Sciences and Dr. Shi Ning, Founder of Hash Technology were invited to the forum as Keynote speakers. Prof. Lin Zhijun, Vice President of Macao University of Science and Technology and Dean of Business School, Professor Sheng Ni, Vice Dean of Business School, Associate Professor Zhang Jinghua, Assistant Dean of Business School, Associate Professor Liu Chengkun, Head of Department of Accounting and Finance and Dr. Zhang Zhuo, Vice Head of Department of Accounting and Finance, and nealy sixty students attended this forum.

At the beginning of the forum, Professor Lin Zhijun delivered a speech saying that the new technological revolution led by Big Data, Cloud Computing, Artificial Intelligence and Block Chain is changing many industries including the financial industry. The use of various scientific and technological methods has promoted the innovative development of products and services, improving efficiency and reducing transaction costs. The Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area was recently released, and the construction of the Greater Bay Area is accelerating. There are many new opportunity for the three places in the GBA, especially for the development of Fin Tech innovation along with the need for adequate diversification of Macau economy development.

The three keynote speakers presented very informative speeches on the development of Fin Tech, new finance and Block Chain technology. Dr. Toa Charm, on the theme of “Global Financial Technology Development and Opportunities”, pointed out that the number of global Fin Tech companies is increasing day by day, the investment in the financial technology field is increasing, the financial technology represented by Block Chain is widely used. Dr. Toa also used the most recent development financial technology in Hong Kong as an example to explain the experience of helping companies develop financial technology through government support for Maker development and attracting innovation through competition.

Prof. Zhang Xiaodong, with the theme of “New Era, New Technology, New Finance”, said that in the new technology era, artificial intelligence as a cross-regional technology is giving birth to a new industrial revolution. He specifically mentioned the four aspects of the risk of Fin Tech, that is, increased financial leverage, easy to generate compliance risks and operational risks, increased the difficulty of liquidity and profitability balance, and strengthened financial externalities.

Dr. Shi Ning, took the theme of “Block Chain Technology from the Perspective of Digital Transformation” and combined with his own example of transferring from a university professor to an entrepreneur, elaborated the core competitiveness of the enterprise in the transformation of information technology age to the digital age. The change emphasizes that the core competitiveness of enterprises has been transformed into the acquisition, analysis and application of data. Dr. Shi uses ABCD to summarize the next generation of information technology into Artificial Intelligence (A), Block Chain (B), Cloud Computing (C) and Big Data (D), and illustrates Digital Gaming as a potential senario of applying Block Chain technology.

In the Q&A session of the forum, students reacted positively and the presentations by the three keynote speakers were warmly received.

Group photo of Vice President Lin Zhijun (fourth from left) and the guest speakers Dr. Shi Ning (fifth from left), Prof. Zhan Jiayang (third from right) and Dr. Zhang Xiaodong (second from right)

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