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Financial Asset Trading Platform Launched to Fill Gaps

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

A photo of the guests who attended the opening ceremony

Financial Asset Trading Platform Launched to Fill Gaps

[Macao Daily News] Yesterday, the inauguration ceremony of Chongwa (Macao) Financial Asset Exchange Co., Ltd. was officially held. Fu Jianguo, Chairman of Nam Kwong (Group) Company Limited and Chongwa (Macao) Financial Asset Exchange Co., Ltd., said that, having adopted the philosophy of "trading finance and global finance", the company will, by creating a fair, open and transparent financial asset trading platform, develop the financial asset transfer market, regulate financial asset transfer activities and guide orderly trading in the financial market.

It will, on the basis of establishment of a sound transfer mechanism, promote reasonable allocation, development and utilization of financial resources, and fill the gaps existing in Macao with respect to multiple financial fields.

 The opening ceremony was held at Grand Plaza Restaurant at 10:30 A.M. Among others, Ho Hau Wah (Vice Chairman of the CPPCC National Committee), Yao Jian (Deputy Director of the Liaison Office of the Central People's Government in the Macao SAR), Shen Beili (Commissioner of the Ministry of Foreign Affairs in the Macao SAR), Leong Vai Tac (Secretary for Economy and Finance) and Li Bing (Head of Capital Operation and Returns Management Bureau of State-owned Assets Supervision and Administration Commission of the State Council) attended the event. In the company of Fu Jianguo, Ho Hau Wah presented the inauguration ceremony. Representatives of multiple government agencies, central enterprises and financial institutions witnessed the ceremony together.

Deepen development of distinctive finance

Ng Man Seong, a member of the Administrative Council of the Monetary Authority of Macao, said that the official establishment of the company has made it Macao's first financial institution providing bond registration, custody, trading, settlement and other services, provided an open and transparent trading platform for circulation of bond investments, and diversified the financial investment tools and financing channels in Macao, and it also signifies further expansion of the development potential of Macao's financial service industry. He hopes that the company will, focusing on the creation of a "China-Portugal Financial Service Platform and the general trend of integration of Guangdong-Hong Kong-Macao Greater Bay Area, actively give play to the role of regional and global financial asset trading platform to boost in-depth and diversified development of Macao's distinctive finance industry.

Fu Jianguo said that the company is a comprehensive financial trading venue created under the "One Country, Two Systems" framework in order to effectively grasp the development opportunities presented by the changes in the current world economic situation and the transformation of China's economic structure, and to give full play to Macao's advantages in terms of politics, economy and international dealings. A moderately diversified economy is a forward-looking strategic arrangement of the government of Macao SAR. The company will, centering on the development theme expressly proposed by the government of Macao SAR, i.e. "develop Macao's distinctive finance industry and consider distinctive finance an important choice for a moderately diversified economy", ceaselessly enhance the finance industry's contribution to diversification of the driving forces for Macao's economic growth while protecting and consolidating the security of finance in Macao.

Support creation of a financial platform

Integration into the big picture of national development is a requirement of the central government and indispensable for economic development of the SAR. The company is the result of active efforts of State-owned Assets Supervision and Administration Commission of the State Council and Nam Kwong Group, broad participation of the business community of Macao, and vigorous support from the ministries, commissions and financial institutions in Mainland China. It will firmly grasp the major historical opportunities posed by issuance and implementation of the plan for Guangdong-Hong Kong-Macao Greater Bay Area and further implementation of the "Belt and Road" initiative, actively boost Macao's "One Center, One Platform" development positioning to take root in the financial field, and further promote Macao's integration into the core financial circle of Guangdong-Hong Kong-Macao Greater Bay Area; it will help Macao create a "China-Portugal Financial Service Platform", improve Macao's ability to render cross-border financial services worldwide, especially Portuguese-speaking countries and countries along the "Belt and Road", boost the development of Macao's finance industry in all respects, and contribute Macao's solutions, powers and wisdoms to China's regional financial integration and external financial cooperation in the new era. 

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