The Macau government and the Bank of China (BOC) have signed an agreement to strengthen cooperation in the construction of Guangdong-Hong Kong-Macau Greater Bay Area.
The agreement, signed by Chief Executive Chui Sai On and BOC Chairman of the Board Chen Siqing, will require Macau residents to have only their identity cards with them when performing several functions at the bank’s branches, as well as BOC-affiliated institutions.
Macau residents may use their Macau identity cards as legal documents for opening accounts, applying for bank cards, registering and trading when they use certain services in financial institutions affiliated to BOC in the Greater Bay Area, and in its more than 500 branch offices overseas.
In line with the local financial regulatory policies, BOC will also build a cross-border capital pool for Macau enterprises to enter the Greater Bay market, as well as further abroad.
Also this week, BOC opened a financing platform in Macau, which will serve Portuguese- speaking countries and regions, the Greater Bay Area and countries along the Belt and Road – all three of which are strategic objectives of the central government.