Gov’t and Bank of China sign agreement to boost financial services

The local government and the Bank of China recently signed a cooperation agreement to enhance banking services in Macau.

The signing took place at the Guangdong-Macau Intensive Cooperation Zone in Hengqin and was attended by Chief Executive Sam Hou Fai and the Bank of China’s chairman Ge Haijiao.

The agreement was signed by Tai Kin Ip, Secretary for Economy and Finance, and Wu Jian, executive vice president of the Bank of China.

Before the signing, the Chief Executive and Ge discussed ways to strengthen their partnership, improve financial services for the economy, upgrade key industries, and enhance modern financial services in the region.

Sam thanked the Bank of China for its ongoing support of the city’s economic development, especially in helping to diversify the economy and advance the Cooperation Zone.

He highlighted that the Bank of China has been part of Macau for 75 years, contributing to its financial growth.

He expressed hope that the Bank of China would continue to align with Macau’s economic diversification goals, focusing on modern financial services and innovation.

The aim is to improve financial services for residents and support the development of the Guangdong-Hong Kong-Macau Greater Bay Area. Times Reporter