Macao: Moving Toward an International Financial Hub

New Fortune Issue 2, 2020

In the pursuit of a moderately diversified economy, Macao has made the financial industry a focus of efforts. In this regard, Chongwa (Macao) Financial Asset Exchange

Co., Ltd., or MOX, the first financial institute in the Special Administration Region (SAR) that offers bond registration, trustee services, transaction, and settlement, plays a key role. As a new platform for financial transactions competing with the Hong Kong Stock Exchange and Shenzhen Stock Exchange in the Guangdong-hong Kong-macao Greater Bay Area, MOX is expected to push Macao to emerge as a new Asian hub of bond trading in the near future.

Macao, closely connected with the Portuguese-speaking business circle with the latter’s GDP topping US

$2.4 trillion and trade volume with China reaching US $100 billion, hold great responsibilities in implementing China’s Belt and Road Initiative. The market and financial resources behind the SAR is stunning.

Behind the development of Macao’s financial industry is the intention of the Macao SAR Government to transform the industrial pattern centered around casino and hospitality sectors. Based on its resource endowment and industrial foundation, Macao also has promising market segments including finance leasing, wealth management, and RMB settlement business.

Macao is expected to become a new international financial hub in China, and inject vitalities into the economic growth of the Guangdonghong Kong-macao Greater Bay Area and national innovation.