Ho Iat Seng, chief executive of the Macau Special Administrative Region (MSAR), said today that the MSAR government will maintain sound communication and cooperation with supervisory bodies in the mainland and the Hong Kong SAR to ensure the effective operation of the Wealth Management Connect (WMC) pilot scheme in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
The WMC scheme is a major policy breakthrough in facilitating individuals in the Greater Bay Area carrying out cross-border investment as well as an important move and innovative arrangement for promoting mutual access between the financial markets in the area, Ho said at an online ceremony launching the scheme.
The WMC scheme allows Hong Kong and Macau's investors to invest in mainland markets, and vice versa.
Ho said the MSAR government will make good use of the advantages of "One Country, Two Systems," play Macau's unique role, put in place the central authorities' major preferential policies for Macau and consolidate and enhance the competitiveness of Macau's financial market.
According to the Monetary Authority of Macau (AMCM), supervisory bodies in the mainland, the Macau SAR and the Hong Kong SAR have established mechanisms for coordinating their work and communication to ensure smooth operation of the WMC pilot scheme. – Xinhua, MPD
