The Ministry of Finance of China will issue public debt of RMB 2 billion in Macau on 4 July “to support the development of the territory’s securities market,” according to a joint market statement issued on Tuesday.

The statement said that the issuance of government debt securities “is an important initiative, within the framework of central government support, for further development of financial activities with their own characteristics, as well as for the promotion of adequate diversification of Macau’s economy.”

“It symbolises a new stage in the development of the RMB market as well as an important factor in attracting more institutions to issue RMB bonds in Macau and a way to accelerate the incentive to build the Macau securities market,” the statement said.

The Macau government welcomed the issuance of debt securities in the territory, saying that “this announcement symbolizes a new stage in the development of the Macau financial, and is an important initiative as part of the support of the central government for further development of financial activities with specific characteristics, as well as to promote the adequate diversification of Macau’s economy. ” (Macauhub)