Financial institutions in Macao participated for the first time in distribution of RMB 5 billion of “Land Reserve Special Bond for Guangdong, Hong Kong and Macao Greater Bay Area”

Issuance ceremony of the “Land Reserve Special Bond for the Guangdong, Hong Kong and Macao Greater Bay Area” held in the morning of 16 August 2018 in Shenzhen, China

The Government of Guangdong Province issued the “Land Reserve Special Bond for the Guangdong, Hong Kong and Macao Greater Bay Area” yesterday (August 16). Three Macao financial institutions have participated in distribution of RMB 5 billion of the special bond. It is the first time that Macao financial institutions participate in the distribution of Mainland municipal bonds, and Macao is in fact the first region outside the Mainland that has financial institutions participating in the distribution of municipal bonds through settlement agencies. These financial institutions will distribute the special bond in the form of wealth management products to Macao residents who may then have a chance to participate in the investment projects in the Greater Bay Area.

The issuance ceremony of the “Land Reserve Special Bond for the Guangdong, Hong Kong and Macao Greater Bay Area” was held yesterday at the Customer Service Center of China Government Securities Depository Trust & Clearing Co., Ltd. in Shenzhen. Mr. WANG Jianxun, Chief Accountant of Treasury Department of the Ministry of Finance, Mr. CHEN Jian, Deputy Director of the Department of Finance of Guangdong Province, Mr. VONG Sin Man, Executive Director of the Monetary Authority of Macao, Mr. LIU Baishu, Deputy General Manager of China Government Securities Depository Trust & Clearing Co., Ltd. and other representatives attended the ceremony. The issue size of the special bond is RMB 34.19 billion with a term of 5 years. The funds raised will be used for land reserve projects in Guangzhou, Zhuhai, Foshan, Dongguan and Zhongshan in the Greater Bay Area. The special bond was underwritten by the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China and China Construction Bank, who invited the three Macao financial institutions, including ICBC (Macau), Luso Bank and Bank of China Macau Branch, to participate in distribution of a total of RMB 5 billion of the special bond. These Macao institutions will then distribute the bond in the form of personal wealth management products for subscription by Macao residents.

The Monetary Authority of Macao encourages the local financial sector to respond enthusiastically to the Country’s development planning and take the initiative to assimilate into the development of the Guangdong, Hong Kong and Macao Greater Bay Area. Through the introduction of personal wealth management products, Macao residents will be able to participate and share the development achievements of the Area. Following the establishment of “Guangdong-Macao Cooperation and Development Fund”, this investment in municipal bonds of the Guangdong Province by Macao financial institutions is another innovative regional financial cooperation project realized between Guangdong and Macao, which has marked Macao as the first region outside the Mainland that has financial institutions participating in the distribution of municipal bonds and has broadened the investment channel of the Macao financial sector in the interbank bond market of the Mainland.

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