The Macau government has hired international consulting firms to study the feasibility of setting up a stock exchange denominated in Chinese currency, the Secretary for Economy and Finance Leong Vai Tac said on Thursday.
The Secretary recalled that this possibility was included in the Chinese Mainland and Macau Closer Economic Partnership Arrangement (CEPA), which was signed at the end of 2017, as well as the Greater Bay Development Planning Guidelines, which were launched at the beginning of this year.
Leong Vai Tac said that after the Macau Monetary Authority received its reports, it would be necessary to carry out a careful analysis, linked to the state of the territory’s economy.
If Macau creates a stock market denominated in Chinese currency, it will have to fulfill the broad principle of “maximising Macau’s potential and serving the country’s needs,” he said, noting that the Government of the Macau Special Administrative Region (MSAR) has not submitted any report to the Central Government.
The Secretary pointed out that during the feasibility study process, the government will encourage consultancy firms to analyse Macau’s real situation in order to learn about and dialogue with the financial markets of neighbouring regions of Macau and other international regions. (Macauhub)