BFA held Development Summit in Macao, Hot topics of “the Belt and Road” Initiative, smart city, and specialized finance have been discussed
Origin:Boao Forum for Asia      Time:2017-11-08 16:30:27     Views:54430

On November 5 and 6, 2017, the Boao Forum for Asia Development Summit 2017 (Macau) was jointly organized by Boao Forum for Asia (BFA), Macau Youth Federation (MYF) and Macau University of Science and Technology (MUST) as their second time cooperation after 2015, which attracted over 1600 delegates including government officials, business executives, media, think tanks, young students from mainland China, the Macao Special Administrative Region, Australia, the United States, the United Kingdom, France and other countries and regions. The summit themed as “Smart city construction and Asian regional development” lasted one day and a half.

Edmund HO Hau Wah, CPPCC Vice Chairman, CUI Shian, Macao SAR Chief Executive, ZHENG Xiaosong, Director of the liaison office in Macao, YE Dabo, Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao Special Administrative Region and ZHOU Wenzhong, BFA Secretary General attended the opening ceremony and the conference.

Joining as speakers for the session discussions were DONG Mingzhu, Chairperson of the Board of Gree; LI Peng, Chairman of the Board of China Huarong Financial Leasing Co., Ltd; LIU Binxing, Director of Greater China of Alibaba Cloud; ZHOU Jiangong, Chief Executive Officer of China Business Network Co., Ltd; YANG Fan, Founding Partner of FINUP & CEO of IQIANJI; SOU Chio Fai, General Secretary of Talents Development Committee, Macao Special Administrative Region Government; Wilson VONG, Executive Director of the Monetary Authority of Macao; SONG Yunsong, Director of CPD Fund Management Company; Alexandre Parilusyan, Vice-President of 3DEXPERIENCity; Steve OKUN, Senior Advisor at McLarty Associates; and Robert KOEPP, Network Director of Economist Corporate Network.

LEONG Vai Tac, Secretary for Economy and Finance of the Macao Special Administrative Region Government addressed the opening, considering the “Belt and Road” Initiative as a major strategy for China’s opening up. He said that Macao would give full play to the “one country two systems”, “one center, a platform”, its status of free port for international trade and its advantage in the number of overseas Chinese and their relatives, and by developing specialized finance, building Chinese and Portuguese national service platform, hosting “Belt and Road”-related exhibition and exploring the international market for traditional Chinese medicine, Macao would actively participate in and help promote the “Belt and Road” Initiative to serve the country while pursuing its own development and progress.   

ZHOU Wenzhong encouraged Macao young people to play their roles in the economic transformation, implementation of the “Belt and Road” Initiative and construction of the Guangdong-Hong Kong-Macao Greater Bay area. He said that for small economies like Macao, opening to the outside world, actively participating in globalization and achieving deep integration into world economy were inevitable choices. As a new thought on globalization, the “Belt and Road” Initiative has attracted wide attention and support, now becoming a new driving force for Asian economic integration and cooperation among the Belt and Road countries. At the sub-regional level, Guangdong, Hong Kong, and Macao are engaged in-depth cooperation, and are expected to form a Guangdong-Hong Kong-Macao Greater Bay that can compete with the New York Bay area, the Tokyo Bay, and the San Francisco Bay Area and become a new growth pole of Asia and the world.

Both the “Belt and Road” Initiative and the Guangdong-Hong Kong-Macao Greater Bay area present valuable opportunities for Macao to further open up and get integrated into global economy. And the task to turn these opportunities into a new growth pole in Macao, to a large extent, falls on the shoulders of the young generation here, who are facing the chances as well as the challenges. On the one hand, young people in Macao should improve themselves and be good at learning and diligent in thinking. On the other hand, they must cultivate an international perspective and adopt a broad world view and actively integrate themselves into the process of globalization and regional and sub-regional cooperation.

Under the summit theme, three sessions focused respectively on young talents, smart cities and specialized finance. When talking about young talents, the delegates regarded people as the greatest resources and the youth as future representatives. Thus the young people should have a dream, a sense of mission and social responsibility, while the government provide favorable environment for their education, employment and entrepreneurship that would help maximize their potentials.

As for smart cities, the world has been in transition from the era of information technology (IT) to era of data (DT). During the last two decades, large amounts of data have been accumulated by not only the government but also enterprises and individuals with the extensive use of IT technology. Now, it is time to use these data as guidance in administration, business, and personal life. The third industrial revolution marked by the data era will liberate human brain and guide the operation of economy and society on the basis of intelligence and massive data. And the smart city is at the forefront of this era.

It has been pointed out that “specialized finance” has yet neither accurate or given definition, nor any static concept. The concept mainly refers to the characteristics and unique advantages of Macao itself, such as its traditional relationship with Portuguese-speaking countries. At the moment, Macao can focus on the development of wealth management, liquidation of RMB and financial leasing. In the future, with the development of Macao and its further engagement with the “Belt and Road” Initiative, specialized finance will witness new development in more aspects than project financing and Internet finance.

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