On November 23, the 2025 Macao Financial Technology Innovation Summit was successfully held in Macao. The summit was hosted by Macau University of Science and Technology (M.U.S.T.) and co-hosted by the Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University (SJTU), with the M.U.S.T. Faculty of Business Administration and the Macao Institute of Fin-Tech Innovation serving as organizers. The summit convened over 300 leading scholars, financial experts, and policymakers for in-depth interdisciplinary discussions on topics including the epistemology of quantitative investing, the economic impact of generative AI, and the frontiers of quantum computing and AI science, laying a theoretical groundwork for the responsible advancement of AI in finance.
The summit was attended by notable figures including Jialiang Chen, Member of the Executive Council of the Macao Special Administrative Region; Zuowen Zhang, Director of the Policy Research and Regional Development Bureau of the Macao SAR Government; Haixi Tan, Deputy Director of the Financial Infrastructure and Information Technology Department, Monetary Authority of Macao; Wenhua Lai, Senior Principal of the Banking Supervision Department, Monetary Authority of Macao; Zhaohua Tan, Head of the Higher Education Department, Macao Education and Youth Development Bureau; Jimin Chen, Vice Chairman of the University Council and Secretary General, M.U.S.T.; Jiale Tang, Vice President, M.U.S.T.; and Xiangmei Su, Member of the University Council, M.U.S.T.
Welcoming addresses were delivered by Professor Hangwei Li, Vice Chancellor and President of M.U.S.T., and Professor Hong Yan, Deputy Dean and Chair Professor of Finance at SAIF.
Professor Li highlighted that the financial industry is at the forefront of the AI-driven transformation, emphasizing the need to balance innovation with prudent risk management and ethical compliance. As Macao accelerates its development as a modern financial center, M.U.S.T., as a local research university, is committed to fostering high-level exchanges. He characterized the collaboration with SAIF as a key example of Shanghai-Macao academic synergy aimed at FinTech innovation, expressing hope that the summit would build consensus and deliver practical pathways for the industry.
Professor Yan noted the historic convergence of AI and finance, where technologies like generative AI are reshaping the sector, and framed the M.U.S.T.-SAIF cooperation as a vital practice of resource sharing between the two cities. He outlined SAIF's strategy of driving industry-academia-research integration in Innovation Finance, Digital Finance, and Sustainable Finance, advancing studies in areas such as blockchain and AI advisory. Through continuous curriculum refinement, SAIF is dedicated to cultivating interdisciplinary talent, positioning itself as an ideas and talent hub for FinTech innovation.
Ni Sheng, Dean of the College of Business at M.U.S.T., and Yong Zhang, Associate Dean of SAIF, signed a strategic cooperation memorandum on behalf of the two institutions, promising to strengthen collaboration in FinTech, jointly promote talent development, cutting-edge research, and innovation project incubation, deepening industry-academia-research synergy between Shanghai and Macao.
A series of keynote speeches delved into the opportunities and boundaries of AI in finance from diverse perspectives.
Xiaoquan Zhang, Wei Lun Professor of Business AI at the Chinese University of Hong Kong and Founder of Meta Quantum Fund, called for a return to the "first principles" of research in quantitative investing, advocating for methodological innovation and model stability over a mere pursuit of computational power.
Hong Yan analyzed the dual effects of generative AI on macroeconomics and the labor market, noting that while it may displace some jobs in the short term, it ultimately enhances high-skilled productivity and wages. This shifts corporate valuation from "expectation premiums" to "efficiency-based repricing," boosting per-capita output and long-term value.
Shi Jin, Foreign Member of Academia Europaea and a Fellow of European Academy of Sciences, Director of Institute of Natural Sciences at SJTU, and Director of SJTU Chongqing Artificial Intelligence Institute, demonstrated the potential of quantum computing in financial engineering, introducing a novel "Schrödinger-ization" algorithm, which offers solutions to high-dimensional derivatives pricing challenges beyond traditional computing capabilities.
Lin Cong , Professor of Finance at the Johnson Graduate School of Management at Cornell University, Rudd Family Professor of Management, Senior Economist at Chainlink Labs, and Chief Scientist at HoloBit, discussed via online presentation how generative AI is reshaping investment management by advocating goal-oriented reinforcement learning and intelligent agent technology. This approach aims to establish an integrated financial infrastructure combining on-chain data with AI agents, thereby advancing automated and intelligent asset allocation.
Dacheng Xiu, Joseph Sondheimer Professor of Econometrics and Statistics at The University of Chicago Booth School of Business, emphasized cautious model selection and proposed using large language models as a "prior knowledge base" embedding human expertise to support economic insight rather than speculative prediction.
Wei-Ying Ma, Chief Artificial Intelligence Officer at City University of Hong Kong, Huiyan Chair Professor at Tsinghua University, Chief Scientist of the Institute for AI Industry Research (AIR), and Director of the Hong Kong Artificial Intelligence and Science Research Institute, presented the visionary concept of "AI scientists," noting that through intelligent agents and closed-loop systems, scientific research is shifting from traditional trial-and-error to automated simulation, significantly accelerating research and development in biomedicine and new materials.
Colin Rowat, Senior Research Scientist in the AI and Data Division at Rakuten Group, urged rationality, suggesting treating large language models as capable but fallible "human employees" requiring expert oversight.
The summit's roundtable discussion was moderated by Ye Zhou, SAIF Affiliate Professor and Chairman of Huifu Payment, with participation from Feng Yu, Chief Information Officer at Cathay Haitong Company; Jinsong Hong, Chief Information Officer at Asian Development Bank; and Shuoling Liu, Chief Information Officer at E Fund Management. They explored how AI can enhance financial inclusion, lower barriers, improve efficiency, and addressed related challenges such as data security and algorithmic fairness.
Coinciding with the 5th anniversary of the SAIF GES (formerly DBA) Class 6 graduation, the SAIF delegation was warmly received by Yicheng He, the fifth-term Chief Executive of the Macao SAR. The delegation also visited institutions including the Macao Carbon Exchange, Ant Bank (Macao), and HSBC Life Insurance.
Through this summit and related exchanges, SAIF has further clarified its role and mission in Shanghai-Macao cooperation and will continue to actively integrate into the broader development of both regions, contributing to shared prosperity.
