CE visits Luxembourg to explore opportunities in economy, trade, and finance

After the visit to Portugal, the Chief Executive (CE), Ho Iat Seng, has traveled to Luxembourg intending to explore new opportunities in economic, trade, and finance matters, the Government Information Bureau (GCS) announced in a statement.

On Sunday, Ho met with the Ambassador of China to the country, Hua Ning, to discuss matters related to finance, especially in view of the fact that Luxembourg has the title of the world’s largest secondary market for bonds.

Ho explained that the purpose of the trip was to gain understanding of the operation of that market and to learn from Luxembourg’s experience, since one of the goals of the government is to develop Macau’s bond market, which, Ho admitted, is still in its preliminary phase.

In Luxembourg, the CE noted that the government hopes that the local bond market could be optimized in terms of improving links between bond issuers, investors, and institutional investors on the mainland and overseas, building Macau into a bond market with unique advantages.

During the meeting, the two officials also exchanged views on sustainable development for the tourism sector, with the CE introducing the ongoing program of promotion of Macau abroad to attract visitors from overseas markets.

In his turn, Ambassador Hua briefed the Macau delegation on China-Luxembourg relations and the socioeconomic situation of the country.

He noted that Luxembourg was one of the first European countries to join the “Belt and Road” initiative and the Asian Infrastructure Investment Bank.

Hua remarked that Macau and Luxembourg have some similarities and both could benefit from cooperation in areas such as green finance, convention and exhibition business, and tourism, adding that the embassy will be open to provide all the help they can to boost these ties and cooperation.