China wants Macau to be a financial platform for Portuguese-speaking countries

21 January 2016

The central government of China will continue to support Macau so that the Special Administrative Region can become a clearing platform for the renminbi between China and the Portuguese-speaking countries, said Yao Jian, Deputy Director of Central Government Liaison Office in Macau.

Speaking at a seminar on the promotion of services in renminbi to the Portuguese-speaking markets, Yao Jian noted the role of cooperation between financial institutions in Macau and Portuguese-speaking countries and said that the eight Portuguese-speaking countries could play an important role in President Xi Jinping’s, “One Belt, One Road” initiative.

Yao said China wants Macau not only to be an economic and trade contacts platform with Portuguese-speaking countries and a world centre for tourism but also a financial platform for the promotion of services in the Chinese currency.

At the seminar, the Deputy Director of the Bank of China (BOC), Wang Jun said the BOC already has services in renminbi with 35 banks from six Portuguese-speaking countries representing 7.6 billion renminbi in 2015, an increase of 15 percent compared to 2014. (macauhub/MO/CN/AO/MZ/CV/TL/BR)