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SASAC's three expectations: Assist in moderate economic diversification

Date:2018-12-13 Source:Macaodaily Visits:

SASAC's three expectations: Assist in moderate economic diversification

 [Macao Daily News] Li Bing, Head of Capital Operation and Returns Management Bureau of State-owned Assets Supervision and Administration Commission of the State Council, on behalf of the SASAC, raised three expectations for China (Macau) Financial Assets Trading Co., Ltd. The central government attaches great importance to the sustainable development of the Macao economy. The company shall, based in Macao, assist the Macao SAR Government in implementing the central government's important measures to support Macao's long-term sustainable development, contribute to the development of Macao's China-PSCs financial service platform and become a solid driving force for Macao's moderate economic diversification; it should help Macao further integrate into the global economy.

 Emerged in the complex of the country's promotion of financial supply side reform, deep advancement of the "Belt and Road" Initiative and the coordinated construction of the Guangdong-Hong Kong-Macao Greater Bay Area, the company is a special international financial platform established on top of the unique geographical location and international status of Macao. The platform is not only an authoritative platform for providing social credibility services for financial asset transactions, but also an open platform that connects Macao, Hong Kong, Mainland China and international markets to promote market systemization and internationalization. On this orderly platform, market transparency is increased and financial trading parties are provided with a good market environment. In addition, information flow, capital flow and resource flow of transactions are effective integrated on this technology platform.

 On behalf of SASAC of the State Council, Li Bing raised three expectations for the Company:

 Integrate into the global economic breakthrough

 I. President Xi Jinping pointed out that "Promoting the moderate and diversified sustainable development of Macao's economy is a major issue that affects both the interests of Macao residents and the development of the region and even the country." Macao is the bridgehead of the country's "Belt and Road" Initiative and also a significant member in the city agglomeration of Guangdong-Hong Kong-Macao Greater Bay Area. The development of Macao is closely related to the national development. The company should, based in Macao, assist the Macao SAR government in implementing the central government's important measures to support Macao's long-term sustainable development and become a solid driving force for Macao's moderate economic diversification.

 II. The company should be active in coordinating the "Belt and Road" Initiative, promote Macao to become the financial network fulcrum of China and Portuguese-speaking countries, and contribute to the construction of Macao's China-PSCs financial service platform, and become a new breakthrough for Macao to further integrate into the global economy.

 III. Under the framework of the Mainland and Macao Closer Economic Partnership Arrangement (CEPA), the Company should seize the opportunity of the coordinated development of Guangdong, Hong Kong and Macao, leverage the unique advantages of Macao to expand and extend the financial bridge between Macao and Mainland China, and create a multi-faceted, comprehensive and international financial trading venue to provide a high-quality platform for the optimal allocation of financial resources worldwide.

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