The delegation visits the Embassy of the People’s Republic of China in France
To deepen existing cooperation between the Macao SAR and European countries in the fields of technological innovation, economic and trade connectivity, and finance, as well as to explore diversified development opportunities, the Secretary for Economy and Finance, Mr. Tai Kin Ip, recently led a delegation of the Macao SAR Government on an official visit to France, Monaco, and Luxembourg, aiming to further expand the international cooperation network.
On 25 April, the delegation visited Paris, France, and met with H.E. Mr. Deng Li, Ambassador of the People’s Republic of China to the French Republic. The two sides held in-depth exchanges on enhancing bilateral cooperation between Macao and France, and explored collaboration opportunities in areas such as cross-border e-commerce, traditional Chinese medicine, technological innovation, and youth talent development. It is expected that by leveraging Macao's role as a “Commercial and Trade Co-operation Service Platform between China and Portuguese-speaking Countries,” the visit would contribute to industrial development across the nation, Macao, and France, as well as the broader European region, and further tap into cooperation potential with Latin language-speaking countries. On the same day, the delegation also visited the Choose Paris Region and held discussions with representatives from the Paris Region's international attractiveness agency. Topics included investment and entrepreneurship policies in the Paris Region, the planning and operation models of local science and technology parks, as well as the incubation and development of start-ups. Opportunities for future collaboration were also explored.
During the visit to Monaco from 26 to 29 April, the delegation attended the “Monaco Clean Fusion Forum” co-hosted by the Prince Albert II of Monaco Foundation and international energy enterprises, where they gained insights into the latest developments in green technology and strengthened exchanges with representatives of top scientific research institutions from Monaco and around the world. Mr. Tai Kin Ip also held discussions with H.S.H. Prince Albert II of Monaco during the forum on topics such as marine protection technology.
Furthermore, H.E. Ms. Marie-Pascale Boisson, Ambassador of Monaco to China, hosted a luncheon in honour of the delegation. Attendees included representatives from Monaco’s government departments and institutions responsible for economy, technology, and green energy. Both sides exchanged views in a cordial atmosphere and held in-depth discussions on future cooperation between Monaco and Macao. The delegation also visited the Monaco Scientific Centre, where they learned about Monaco’s research achievements in environmental protection, marine ecology, and sustainable development.
From 29 April to 2 May, the delegation continued their visit in Luxembourg. They paid a courtesy call on H.E. Mr. Hua Ning, Ambassador of the People’s Republic of China to the Grand Duchy of Luxembourg, during which both sides exchanged views on strengthening Macao–Luxembourg cooperation in the fields of economy and finance. The delegation also visited Clearstream Group S.A./the International Central Securities Depository (ICSD) and one of the largest law firms in Luxembourg. The visit served to understand Luxembourg’s legal and regulatory framework concerning investment funds, its financial supervision policies, and the latest developments in the bond market. Discussions also centred on how Luxembourg’s experience could provide insights for Macao’s legislative proposals on the “Investment Fund Law” and the “Securities Law”, as well as on fostering interoperability between the Macao Central Securities Depository and Clearing Limited (MCSD) and the ICSD to promote greater connectivity between the two bond markets.
During the visit, the delegation participated in a seminar with Chinese-funded financial institutions in Luxembourg, including Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and Bank of Communications. The delegation was briefed on the synergy between financial sectors in both regions and listened to suggestions on enhancing Macao–Luxembourg financial cooperation. In meetings with representatives from the Association of the Luxembourg Fund Industry (ALFI), Luxembourg for Finance (LFF), and the Luxembourg Stock Exchange, the delegation gained an in-depth understanding of the local bond market and investment fund operations. Mr. Tai Kin Ip remarked that Macao’s Central Securities Depository (CSD) had, earlier this year, successfully achieved direct connectivity with Hong Kong’s Central Moneymarkets Unit (CMU). He expressed hopes to draw on Luxembourg’s experience and leverage its support to further expand international cooperation. He also invited Luxembourg to share its successful practices in green bonds with Macao’s financial sector. Meanwhile, both sides also discussed matters such as the listing of Macao bonds on the Luxembourg Stock Exchange and the creation of conditions for subsequent trading, as well as cooperation in financial talent training. These exchanges are expected to support the development of Macao’s bond market and cultivate talent in the financial sector.
This visit has strengthened the delegation’s ties with Europe’s high technology and financial sectors, laying a solid foundation for Macao to achieve moderate economic diversification, deepen international cooperation, and enhance its international influence.
Members of the delegation included Mr. Che Weng Keong, President of the Administrative Committee of the Science and Technology Development Fund; Ms. Lau Hang Kun, Acting Chairperson of the Executive Board of the Monetary Authority of Macao; and Mr. Iong Nin Fai, Department Head of the Economic and Technological Development Bureau.
