Au Kam San concerned for investment of public financial reserves

Lawmaker Au Kam San addressed his fears regarding the government’s investment of the public finances under the “one belt, one road” initiative, which proposed a collaboration with the China Development Bank to invest the money into several regions of the mainland.
According to the lawmaker, “many of these regions are underdeveloped and poor, and so, the danger of investing there is high,” he said, adding that “Macau is preparing to participate in these investments through third parties, which can be even more dangerous.” He compared the investments to “a blind man riding a blind horse,” and urged the government to argue that this option is apparently not fit for purpose since “the return on investment is very low and that investment has resulted in the hiring of a large number of fund managers.”
Au also claims that the government revealed that it is prepared to invest only MOP10-20 billion in the first phase, but questioned whether there will be a “maximum limit” or whether any “cut loss line” was to be set in order to avoid big losses from the public financial reserves. RM