On 9 December, the DBM Luncheon Forum, in celebration of the UIC New Campus Inauguration, was successfully held at T1-101 and T1-102. The Forum discussed the new business opportunities and challenges arising from the emerging growth of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). It mainly comprised of two parts which were keynote speeches and a Q & A session.

The forum attracted more than 170 participants, including UIC staff, students and alumni, as well as government officials, representatives from the professional accounting bodies of Hong Kong and Zhuhai, members of the DBM Advisory Committee and business experts across various industry sectors.

Image1

Image2

Image3

Image4A wide range of attendees gather at the Luncheon Forum

To begin the forum, Vice President of UIC, Prof Zee Sze Yong, said “The expected completion of the world well-known Hong Kong–Zhuhai–Macao Bridge will probably create a “one hour commuting circle” among the city clusters, and more importantly will give an impetus to rapid and tremendous development of the Guangdong-Hong Kong-Macao GBA. As a key strategic hub for the national Belt and Road initiative, the GBA is expected to experience a significant integration of resources, innovation and technology and legal systems.”

Image5Prof Zee Sze Yong, Vice President of UIC, gives opening remarks

As the first keynote speaker of the Forum, Mr Chi Tenghui, Director of the Financial Service Bureau, Hengqin Free Trade Area, shared with the audience his experience visiting the Tokyo Bay Area, the San Francisco Bay Area and the New York Bay Area as well as his perspective on them. He analyzed that these three world-class bay areas have their own cultural history, distinctive strengths and development strategies which set a good example for China. Mr Chi inspired the Chinese youth to capitalize on the emerging business and career opportunities arising from the GBA with innovative and entrepreneurial spirit to achieve their aspirations as well as help China gain competitive advantage in the booming worldwide bay area economy.

Image6Mr Chi Tenghui, keynote speaker, shares his experience and views

Another keynote speaker, Mr Gabriel Wong, Head of China Corporate Finance, One Belt One Road Leader, PwC China, delineated the connection between the GBA concept and the Belt and Road initiative especially in terms of infrastructure connectivity. Furthermore, Mr Wong gave the audience fresh insight into the synergy plans for the three core cities (Hong Kong, Guangzhou and Shenzhen) in the GBA development. The plans include the following three aspects: first, that the Port of Guangzhou, the Shenzhen Yantian Port and the Port of Hong Kong should establish clear logistic positioning, reduce internal competition, realise efficient use of resources and achieve synergy; second, the three cities should be empowered to leverage their distinctive strengths in a bid to build a worlds’ leading GBA; third, the three cities should complement each other in the financial services.

Image7Mr Gabriel Wong, the keynote speaker, delivers his speech

During the Q & A session, there was active interaction between the audience and forum panels. Regarding the challenges confronting the GBA development, Mr Chi viewed that the “one country, two systems” policy existing in the GBA may affect the synergy to some degree, however, it would be an advantage if the two legal systems were fully utilized.

Image8Prof Stella Cho, Dean of DBM, acts as a moderator at the Q & A session

To end the Forum, Prof Stella Cho, Dean of the Division of Business and Management, delivered closing remarks. She concluded that different cities in the GBA, ranging from the knowledge-intensive industry belt in the East Coast, the technology-intensive industry belt in the West Coast, and the ecology-driven heavy industry belt along the coast, together with the financial services in HK and the recreation services in Macao, would be soon interconnected in a way that would facilitate efficient exchange on policy formulation, transportation, facilities construction, trade, capital and talents. She added that, despite tremendous opportunities ahead, the GBA would face many challenges, including the coordination and government relations among different cities, problems arising from massive talent exchange, competition and balance across different zones, and policies in favor of entrepreneurs.

Referring to the Framework Agreement on the GBA signed in July 2017, Prof Cho expressed her anticipation for a cooperative and complementary business and social environment to be created and maintained by a mix of cities and talents in the near future. Meanwhile, from the perspective of an experienced educator, she pointed out that education has an irreplaceable role in supporting the GBA development especially in term of the cultivation and integration of young talents. Prof Cho expressed that UIC would devote greater efforts to advancing liberal arts education with an aim to nurture talented future graduates with international perspectives and professional knowledge and qualities.

Image9Prof Stella Cho, Dean of UIC DBM, delivers closing remarks

This event was co-organized by the Hong Kong Institute of Certified Public Accountants (HKICPA), the Zhuhai Institute of Certified Public Accountants (ZHICPA) and the Accounting Society of Zhuhai. Souvenirs were exchanged among the organizers to end the insightful event.

Image10UIC presents a souvenir to HKICPA

Image11UIC presents a souvenir to the Zhuhai Institute of Certified Public Accountants (ZHICPA), the Accounting Society of Zhuhai and the Zhuhai Accounting Industry Association

(from DBM)