The Monetary Authority of Macao (AMCM) signed a Cooperation Agreement with the Financial Services Office of the Shanghai Municipal Government to reinforce financial cooperation between Shanghai and Macao. Secretary for Economy and Finance of the Macao Special Administrative Region, Mr. Tam Pak Yuen and Vice-Mayor of Shanghai, Mr. Tu Guangshao witnessed the ceremony. The SAR Government supported wholeheartedly the joint effort of the two regions to develop financial services. AMCM and the Financial Services Office of the Shanghai Municipal Government held in Shanghai the "Shanghai-Macao Financial Cooperation Agreement Signing Ceremony" on 29 this month. Mr. Tam Pak Yuen, Secretary for Economy and Finance, MSAR and Mr. Tu Guangshao, Vice-Mayor of the Municipal Government of Shanghai, Mr. Jiang Zhuoqing, Deputy Secretary-General of the Shanghai Municipal Government, Ms. Zhang Yixing, Deputy Director-General of the Shanghai Municipal Foreign Affairs Office, officiated the ceremony to witness the signing of the Cooperation Agreement by Mr. Teng Lin Seng, Chairman of AMCM Board of Directors and Mr. Fang Xinghai, Director-General of the Shanghai Municipal Government Financial Services Office. Secretary Tam in his address says that Shanghai recently strives to become an international financial centre. It is the leading city of the Yangtze Delta Region. Shanghai faces the world and its network covers the four seas. The SAR is glad to have the Financial Cooperation Agreement executed between the two parties. Macao will no doubt make use of the experience of Shanghai in its successful development which is invaluable to Macao in enhancing its financial industry. Through cooperation of Shanghai and Macao, Macao will provide services relating to economic and commercial liaison between Shanghai commercial enterprises and Portuguese speaking countries. It is expected that under the motivation of the Shanghai Municipal Government and Financial Services Office, liaison will be strengthened. The SAR Government will wholeheartedly support the collective financial endeavour of the two regions, promote financial and commercial cooperation of two regions with a view to achieving common goal through complementary cooperation. Vice-Mayor Tu expresses his conviction that Shanghai is delighted to arrive at a more extensive and deep cooperation relationship with all regions, including the Macao Special Administrative Region. Such move will certainly inject vitality into the ambition of Shanghai in its endeavour to forge an international financial centre. At the same time, Macao SAR has long working relationship with Portuguese speaking countries which carries very positive meaning in helping Shanghai financial enterprises to explore such markets. It is hoped that in the expectation of building up financial cooperation between the two regions, through the setting up of liaison mechanism and meetings at regular intervals, the sharing and communication of financial information will be reinforced which will be conducive to the mutual development of the financial industry of the two regions.