Chief Executive meets PBOC governor over financial ties

Chief Executive Ho Iat Seng welcomed Pan Gongsheng, the Governor of the People’s Bank of China (PBOC), earlier this weekto discuss financial cooperation between Macau and the mainland.

The meeting coincided with the opening of the 2nd Conference of Central Bank Governors and Financial Officials between China and Portuguese-speaking countries at the Galaxy International Convention Center.

During their discussions, Ho expressed gratitude for the PBOC’s ongoing support for the development of the Guangdong-Macau in-depth cooperation zone in Hengqin, including the release of “30 articles relating to financial support.”

Ho said Macau has gradually built a series of financial system software and hardware facilities such as a central securities depository system and a financial asset exchange to support Macau’s economic diversification.

He hoped the PBOC will continue to support Macau’s financial integration with the Greater Bay Area and strengthen Macau’s role as a platform for financial services between China and Portuguese-speaking countries.

Pan assured Ho the PBOC would continue to support Macau in strengthening financial cooperation with the mainland, assisting Macau in building a financial service platform serving China and the Portuguese-speaking countries.

The meeting included key officials such as Lei Wai Nong, Secretary for Economy and Finance, and Lau Hang Kun, member of the Board of Directors of the Monetary Authority of Macao.

In a separate development, Ho announced Macau is preparing to launch a digital pataca with the aid of the PBOC to further enhance the city’s financial infrastructure and support economic diversification. Nadia Shaw