Macau will further explore diversified cooperation with Luxembourg in the bond market and green finance so as to provide a new model for international financial cooperation along the Belt and Road (B&R), major financial players from the two sides said.
ChongWa (Macao) Financial Asset Exchange Co. Ltd. (MOX) and the Luxembourg Stock Exchange (LuxSE) co-hosted a launch ceremony about their future cooperation in Macau yesterday and a joint conference on the development and outlook of offshore financial markets under the Belt and Road Initiative (BRI).
Mex Zhang, executive chairman and president of MOX, said the bond market is key to the development of Macau’s modern financial industry and an important point for promoting its economic diversification, adding that MOX’s cumulative issuance and listing of bonds exceeds 300 billion patacas
This year marks the 50th anniversary of the establishment of diplomatic relations between China and Luxembourg, said Zhang, voicing hope that the fluidity of the two capital markets will be continuously enhanced and B&R financing will be jointly supported, while achieving innovation in the field of green finance and promoting development of the offshore RMB market.
Julie Becker, CEO of LuxSE, said via video link that the LuxSE signed a memorandum of understanding with MOX in January 2020, introducing the issuer of the Macau trading platform to the international capital market. In addition, the bond information listed on MOX can be officially disclosed on LuxSE simultaneously.
This opens up a new opportunity not only for issuers in Macau, but also for international investors eager to enter the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) market, she said.
Huang Zhaohui, CEO and chairman of the management committee of China International Capital Corporation Limited (CICC), said CICC has established close cooperative relations with MOX and LuxSE in the fields of cross-market product collaboration, financial innovation and green finance.
So far, a total of 11 overseas bonds have been listed both on MOX and LuxSE, surpassing US$5 billion in total, including six green bonds.
The Grand Duchy of Luxembourg has about 635,000 residents. Macau has a population of around 683,000. – Xinhua, MPD
