Macao urged to use foreign ties to get into green finance

An adviser of the Fintech Association of Hong Kong, Oriol Caudevilla, thinks Macao should exploit its ties to the Portuguese-speaking world to get into the business of green finance.

Mr Caudevilla, who sits on the committees of the association that deal with blockchain business, digital banking and the Guangdong-Hong Kong-Macao Greater Bay Area, says so in an article he wrote that was carried by the Macau News Agency on Monday.

Mr Caudevilla writes that green finance is among the fields that an exchange in Macao for stocks priced in renminbi could get into.

He says green finance would fit in with the plan by the government in Macao to give the city a modern finance industry, to increase cooperation by China and lusophone countries, and to prompt low-carbon, sustainable economic development.

In 2019 the Macao branch of state-owned Bank of China issued green bonds worth 7 billion yuan (about US$1.08 billion), denominated in US dollars, euros, and renminbi, Mr Caudevilla says in his Macau News Agency article.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):