Macau is planning a multi-pronged approach to foster the financial industry as a pillar industry with new growth points. The Securities Times·e company was informed exclusively that the Monetary Authority of Macao is planning to conduct a feasibility study on the establishment of a renminbi-denominated securities market in Macau. It will fully integrate the central government's positioning of Macao's Sino-Portuguese business cooperation service platform, and research and develop the financial industry and elements that are in line with Macao's characteristics.
The company was informed that Macao is revising the relevant laws and regulations in the financial sector and improving the financial and hardware infrastructure to create conditions for innovative financial cooperation between Macao and neighboring regions. In addition, in terms of investment cooperation, the “Guangdong Guangdong-Macao Cooperation and Development”fund"It was formally established in 2018 and is in the process of instalment and capital injection. In terms of regulatory cooperation, the Guangdong, Hong Kong and Macao regulatory agencies will continue to actively explore the establishment of financial regulatory coordination and communication mechanisms in the Greater Bay Area through consultations. Environmental supervision andCash flowDynamic monitoring and analysis cooperation.
In addition, the Monetary Authority of Macao is also committed to promoting the construction of the “China-Portugal Financial Service Platform”. In the future, we will continue to strengthen publicity and promotion, and expand the construction machinery, high-speed rail, shipbuilding and other equipment in the Mainland to the Portuguese-speaking countries and the “Belt and Road” market.
(Article source: Securities Times)