Zhuhai-Macao academic synergy empowers GBA development: First Zhuhai-Macau Twin-City Finance Forum inaugurates

The First Zhuihai-Macau Twin-City Finance Forum was held at Beijing Normal University (BNU) at Zhuhai, hosted by BNU Bay Area International Business School (BIBS) and co-organized by the Faculty of Finance (FOF) of City University of Macau (CityU). The forum focused on frontier trends in finance engaged in in-depth discussions on two key topics “Capital Market Interaction, Investment Decisions and Carbon Market Asset Pricing” and “Marketing Opening, Institutional Shareholding and Corporate Information Disclosure”. The forum brought together experts and scholars in finance, accounting, and economics, conducting high-level and professional academic exchanges through paper presentations, expert feedback, and roundtable dialogues.

Kong Ying, dean of BIBS, delivered an opening address stating that this Forum marks an important start for the two universities to build a financial academic community. He expected that this could serve as an opportunity to establish a regular academic exchange platform, continue to deepen multi-dimensional cooperation in areas such as joint research and the cultivation of interdisciplinary financial talent, and build a long-term mechanism for coordinated development.

Adrian Cheung, dean of FOF, pointed out that the academic collaboration in Zhuhai-Macao twin-city served as an important measure for Guangdong-Hong Kong-Macao Greater Bay Area development, innovation and upgrading in financial disciplines. He regarded the event as key to addressing the development challenges in green finance and digital finance, as well as to promoting high-quality development of regional financial subjects.

The first thematic forum was hosted by BNU Assistant Professor Dai Xiang, focusing on the capital market interaction, investment decisions and carbon market asset pricing”. CityU Assistant Professor Yang Fan was the first to present his paper, demonstrating the impact of field research on corporate investment decisions from the perspective of information transmission. BNU Distinguished Associate Researcher Han Meng served as the commentator, and the audience engaged in lively academic exchanges on research methodologies and causal identification. She also presented a related paper decomposing the causes of carbon price fluctuations through a present value model, offering new insights for research on carbon market pricing mechanisms. CityU Assistant Professor Hua Junyi provided comments and had in-depth and enlightening discussions with participants on model assumptions and practical value.

The second thematic forum was hosted by CityU Associate Professor Li Weiping, focusing on the research exchanges concerning the correlation mechanism of marketing opening, institutional shareholding and corporate information disclosure. CityU Assistant Professor Wang Lu presented her paper, using textual analysis methods to demonstrate that capital market opening encourages firms to adopt more cautious narrative disclosure strategies. BNU Assistant Professor Dai Xiang spoke highly of the research, appreciating its novel perspective, rigorous arguments, and both academic and practical value. BNU Assistant Professor Dai Jiayu shared related research, challenging the conventional notion that passive investors do not engage in corporate governance and confirming that ETF ownership can motivate enterprises to enhance their voluntary disclosure levels. CityU Assistant Professor Xu Wenli provided professional comments on the research mechanisms, empirical models, and other core elements, offering valuable research references to the present scholars.

After the thematic forums, the floor was open for exchange. Young scholars from both universities offered constructive suggestions on core issues such as Zhuhai-Macao academic cooperation in finance, joint research development, and the long-term operation of the forum. The participating experts reached a consensus, proposing to establish a regular rotating hosting mechanism, promote mutual visits among young faculty, joint doctoral cultivation, and student exchange programs. leveraging the industrial advantages of GBA to deepen interdisciplinary research in green finance, digital assets and so on.

At the conclusion of the exchange session, Chen Yinghui, the host of the forum and head of BNU finance technology and modern finance programs, delivered closing remarks. He reviewed the key findings of the two thematic forums, as well as the innovative highlights and academic value of each presented paper, and expressed sincere gratitude to all the experts for their sharing and to the conference team for their support work.

This forum has built a high-quality platform for academic dialogue, intellectual exchange, and resource sharing in finance across Zhuhai and Macao, strengthening the academic partnership between the two universities and providing a practical model for collaborative talent cultivation and joint research among higher education institutions in the Greater Bay Area. Participants expressed that the forum featured cutting-edge topics, thought-provoking comments, and thorough discussions. They looked forward to more cross-institutional and interdisciplinary academic activities in the future, so as to contribute wisdom and strength to the high-quality development and development of the GBA's financial industry.

Source: Faculty of Finance

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Zhuhai-Macao academic synergy empowers GBA development: First Zhuhai-Macau Twin-City Finance Forum inaugurates

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