Agreement reached between Monetary Authority, Bank of China

The People’s Bank of China (PBOC) and the Monetary Authority of Macao (AMCM) have signed a Memorandum of Understanding in order to enhance the coordination and cooperation between the two authorities on financial policies and supervision.

Under the agreement, the PBOC and the AMCM will establish an information-sharing and notification framework, deepen cooperation in financial supervision and enhance the exchange and training of financial talents.

According to a statement issued yesterday by AMCM, “the PBOC will support the stable and healthy development of featured finance in Macau, particularly fostering cooperation in the areas of financial leasing, settlement in RMB between China and Portuguese-
speaking countries, wealth management and other relevant financial activities.” A consensus was also reached to enhance the supervision and promotion of Fintech and mobile payments.

The AMCM stated that the agreement “will broaden the scope of development of the Macau financial sector, thus promoting economic diversification of the MSAR and providing more diversified and convenient financial services for Macau residents, while reinforcing Macau’s position as a financial services platform between China and PSCs to support the national development strategy.”

Vietnamese community commemorates national day

The Vietnamese community in Macau celebrated Vietnam’s 73rd National Day on Sunday by remembering the country’s major achievements in socio-economic development and its international integration over the past decades.

The commemoration was attended by the Vietnamese Consul General in Hong Kong and Macau, Tran Thanh Huan, along with officials from Vietnamese representative agencies in Hong Kong and local authorities, as cited in Vietnam News Summary.

Huan noted that Sino-
Vietnamese relations have
been reinforced and developed
in recent years, with important progress made in various fields.

He also mentioned that China has become the largest trade partner of Vietnam, while Vietnam is the biggest trade partner of China among ASEAN countries and is the eighth largest in the world.

The Consul General reminded his compatriots to continually promote their culture in the SAR, lauding their efforts and contributions in the city.
Meanwhile, the head of the Mutual Support Fellow-Countrymen Association in
Macau, Tran Thi Thu, said that the meeting was also a chance for Vietnamese migrants in Macau to be reminded of the “glorious tradition of the nation and the pride of the homeland as well as their responsibility to the motherland.”

Celebrations were also held in other regions, including in Malaysia, where a number of Vietnamese migrants competed in a badminton tournament to commemorate their national day.

The event aims to strengthen exchange and solidary amongst the community.