Macau and Zhuhai to jointly train finance staff

The Monetary Authority of Macao will cooperate with the Zhuhai Financial Work Bureau to train staff working in the financial sector under a memorandum of cooperation signed on Monday in Zhuhai, Guangdong province during the Macau-Zhuhai Business Summit 2019, the institution said.

The memorandum aims to establish a framework and general guidance for cooperation between the parties, including joint training of financial staff, enhanced cooperation in the provision of financial courses, organization of financial training, and coordinated development of financial activities with their own characteristics.

Macau is currently studying the possibility of establishing a stock exchange. The idea was first unveiled in the Outline Development Plan for the Greater Bay Area, where it was suggested that Macau utilize a securities market, most widely believed to take the form of a stock exchange, to better position the city as the bridge linking China and the Portuguese-speaking world.

Last week, a Guangdong official said that a plan had been submitted to Beijing and would likely be approved before the Special Administrative Region’s 20th anniversary. However, both the Monetary Authority and the Secretary for Economy and Finance Lionel Leong stressed that the idea was still being studied.

A statement issued later by the Monetary Authority of Macao said that the opening ceremony of the “Guangdong-
Macau Cross-Border Cooperation Pilot Zone (Zhuhai)” located in the headquarters building of the Hengqin Islands, was also held on Monday.

According to the zone’s plan, companies in the areas of finance leasing, wealth management, financial technologies and their representative associations, will be established in the area. These organizations will be provided with support for the development of financial activities in terms of staff, and venues for training and holding events.

The 2019 Macau-Zhuhai Business Summit was jointly organized by the Secretary for Economy and Finance of the Government of the Macau Special Administrative Region, and the Zhuhai Municipal People’s Government. MDT/Macauhub