On July 27, the Greater Bay Area Chief Economist Forum 2024, organized by the School of Management and Economics (SME) and Shenzhen Finance Institute (SFI), The Chinese University of Hong Kong, Shenzhen (CUHK-Shenzhen), and The Chinese University of Hong Kong (CUHK) Business School, with the theme of “Better Economic Quality and Higher Efficiency and New Prospects for the Development of the Greater Bay Area,” was held in Shenzhen. More than 20 front-line economists, experts, and scholars were invited to conduct discussions from multiple perspectives and deliver brilliant speeches, intriguing more than 200 representatives of government departments, industry leaders, media, and audiences to attend the event. The forum attracted wide social attention and was broadcast live on more than ten online cooperative platforms in front of nearly two million viewers.

Yin Yanlin, Deputy Director of the Economic Committee of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), and Zhang Jun, Dean of the School of Economics at Fudan University and Senior Professor of Economics, delivered keynote speeches. Qin Hong, Counselor of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region and former Deputy Director-General of the Policy Planning Department of the Ministry of Foreign Affairs; Xie Zhixiong, Deputy Director of the Policy Research Office (Reform Office) of the CPC Shenzhen Municipal Committee; Tang Jin, Member of the Party Leadership Group and Deputy Director of the China Council for the Promotion of International Trade Shenzhen Municipal Committee (CCPIT Shenzhen); Liu Liping, President of the Shenzhen-Hong Kong-Macao Cooperation Innovation Research Association of Shenzhen and former Deputy Secretary-General of the Shenzhen Municipal CPPCC; Song Min, President of the Hong Kong Institution for International Finance (HKIIF) and Dean of the Institute for the Development of Central China (IDCC) at Wuhan University; Yao Wenqiang, Chairman of Golden Eagle Asset Management Co., Ltd. and Secretary-General of Shenzhen Asset Management Institute; Zeng Yijing, Director of the Greater Bay Area Service Centre, Hong Kong Trade Development Council; KC Yuen, Vice President of CUHK-Shenzhen; Zhou Lin, Dean of CUHK Business School; Ma Xufei, Associate Dean of CUHK Business School; and Zhu Yanmei, Associate Dean of the School of Public Policy (SPP), CUHK-Shenzhen, attended the forum.

Professor Ai Chunrong, Associate Director of SFI, delivered an opening speech. He mentioned that this marks the sixth session of the Greater Bay Area Chief Economist Forum. He hoped that the forum could further play a leading role, bring together all parties to jointly contribute insights and recommendations to the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and facilitate high-quality development of China’s economy.

Mr. KC Yuen, Vice President of CUHK-Shenzhen, delivered an opening speech for the forum. He said that this year marks the tenth anniversary of the founding of CUHK-Shenzhen, whose educational achievements have been highly recognized by the governments of Shenzhen and Hong Kong, as well as all walks of life. In the future, CUHK-Shenzhen will be committed to accelerating the building of a comprehensive innovation ecosystem that integrates industry, academic research, and applications.

Professor Xiong Wei, Academic Dean of SME, Academic Director of SFI, and the Shenzhen Institute of Data Economy, CUHK-Shenzhen, emphasized the key role of the Greater Bay Area in promoting regional economic integration and innovation-driven development. He stated that SME has achieved remarkable results in discipline construction, business talent training, and financial and economic policy research, and will continuously inject new vitality into the building of the Guangdong-Hong Kong-Macao Greater Bay Area into a national innovation center.

Professor Zhou Lin, Dean of CUHK Business School, held that with its advantages of being backed by the motherland and connected to the world, Hong Kong continues to play a role as a bridge connecting China and the world and is crucial to the economic growth of the country and the Greater Bay Area. Against such background, CUHK and CUHK-Shenzhen will make full use of their high-quality educational resources and scientific research strengths to deepen cooperation and focus on key areas of China’s economic transformation and upgrading, so as to jointly drive the economic development of the Greater Bay Area, China, and even the world. 

Mr. Yao Wenqiang, Chairman of Golden Eagle Asset Management Co., Ltd. and Secretary-General of Shenzhen Asset Management Institute, welcomed the guests, expressing that against the backdrop of slow global economic recovery and uncertainties in the financial market, high-quality financial development plays a key role in promoting the economic growth of the Guangdong-Hong Kong-Macao Greater Bay Area. 

Keynote Speeches

Mr. Yin Yanlin, Deputy Director of the Economic Committee of the 14th CPPCC National Committee, delivered a keynote speech on “China’s Modernization Reform and Economic Development.”

Zhang Jun, Dean of the School of Economics at Fudan University and Senior Professor of Liberal Arts, delivered a keynote speech on “What is behind China’s economic slowdown?”.

Themed Forums

Themed Forum I, known as “Rebalanced Global Economy,” was moderated by Professor Wang Jian, Associate Director of SFI and Director of the FEMBA Programme. Zhu Haibin, Chief Economist at J.P. Morgan China, delivered a speech on “Rebalancing the Global Economy”; Xia Le, Chief Economist at Asia-Pacific at Banco Bilbao Vizcaya Argentaria (BBVA), delivered a speech on “Global Economic Outlook and Long-term Issues”; and Chang Jian, Chief Economist at Barclays Bank in China, delivered a speech on “The Impact of the Trade War and Export Outlook.”

Theme Forum II, known as “Global Asset Allocation under Deep Changes,” was moderated by Professor Wang Cong, Associate Vice President (Student Affairs) of CUHK-Shenzhen. Hu Yifan, Regional Chief Investment Officer & Head Macroeconomics APAC, UBS Global Wealth Management, delivered a speech on “Critical Moment - 2H24 Outlook”; Zhang Zhiwei, President and Chief Economist at Pinpoint Asset Management, delivered a speech on “The Impact of the US Election on Asset Prices”; and Zhao Wenli, Chief Strategist, Managing Director, and Head of Research of CCB International, delivered a speech on “New Trends in Major Asset Allocations amid Global Changes.”

Themed Forum III, known as “China’s Macroeconomic Outlook and a New Round of Fiscal and Taxation Reform,” was moderated by Professor Xiao Geng, Director of the Institute of Policy and Practice, SFI, and Chairman of HKIIF. Mao Zhenhua, Professor of HKU Business School, Founder of China Chengxin Credit Rating Group, and International Chief Economist, delivered a speech on “Government Debt Restructuring and Reform on Fiscal and Taxation Systems”; Lu Ting, Chief China Economist at Nomura Securities, delivered a speech on “Rebalanced Economy in the Year of the Loong”; and Luo Zhiheng, Chief Economist and President of the Research Institute at Yuekai Securities, delivered a speech on “The Three Main Lines and Logics of the Reform on Fiscal and Taxation Systems Proposed at the Third Plenary Session of the CPC Central Committee.”

Themed Forum IV, known as “High-level Opening-up and High-quality ‘Going Global’ of Enterprises,” was moderated by Ms. Zeng Jingyi, Member of the CPPCC National Committee and a famous finance hostess of Phoenix TV. Sun Mingchun, Vice Chairman of the Chinese Financial Association of Hong Kong, delivered a speech on “Review and Reflection on China-US Economic and Trade Relations”; Xu Qiyuan, Deputy Director at the Institute of World Economics and Politics (IWEP), the Chinese Academy of Social Sciences (CASS), delivered a speech on “High-level Opening-up from the Perspective of Production Capacity”; and Fu Chenggang (Calvin), Chairman of China Innovation Finance Institute and former China Chief Representative, Abu Dhabi Global Market, delivered a speech on “Riding the Blue Wave: Industry and Finance Exporting to the Middle East (Arabia).”

Themed Forum V, known as “New Productive Forces and Construction of a World-class Science and Technology Innovation Hub,” was moderated by Mr. Yao Zhenshan, a host of CCTV Finance Channel. Shen Jianguang, Chief Economist at JD.com, delivered a speech on “Digital Economy Accelerates the Development of New Productive Forces”; Qu Hongbin, Vice Chairman of the China Chief Economist Forum and former Chief Economist for Greater China at HSBC, delivered a speech on “Why China Can’t Wait to Create a Silicon Valley Bank of Its Own?”; and Lu Zhengwei, Chief Economist at Industrial Bank, delivered a speech on “The Key Role of the Government in Sci-tech Innovation.”

Song Min, President of HKIIF and Dean of the IDCC at Wuhan University, made a concluding speech for the morning forums; and Ma Xufei, Associate Dean of CUHK Business School, and Wang Jian, Associate Director of SFI and Director of the FEMBA Programme, made concluding speeches for the afternoon forums.