The SAR Government has emphasised that issues relating to the establishment in Macao of a securities market denominated and cleared in renminbi, were still at the research phase.
The Government had previously commissioned international consultancy companies to study the feasibility of such a securities market. The latter vision had been mentioned in the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area).
The feasibility studies were being conducted keeping in mind the idea of Macao “serving the country’s development needs, while delivering on its inherent strengths”. Any such initiative should complement Macao’s existing advantages and fit with the overall coordination of the development of the Greater Bay Area city-cluster initiative, including the role of already-developed financial centres in cities neighbouring Macao.
The SAR Government would implement in a phased manner any suggestions from the feasibility studies regarding optimisation of Macao’s financial services.