The establishment of a yuan-denominated Macau stock exchange is a project that is still under consideration, the Macau Monetary Authority (AMCM) said in a statement issued on Sunday.

The AMCM also reported that it has hired international consulting firms to carry out project feasibility studies.

The statement added that the pursuit of the divergent development targets and the achievement of progress in this area is conditional on fully understanding its advantages, as there are already several well-developed financial centres in the neighbouring regions.

“On the other hand, further work by the Government of Macau should consist of the refinement of the local financial sector development plan and its implementation, based on the results presented by these consultancy firms,” the statement said.

This was how the AMCM responded to statements made by the director of the Guangdong Financial Supervisory and Management Authority that a request for a Macau stock exchange had been submitted to the central government.

He Xiaojun, who released this information at a symposium, said it was possible that the Macau stock exchange, “could become the NASDAQ of the People’s Republic of China.” (Macauhub)