Bank of China (Macau) Chairman Li Ruiqiang said in a speech yesterday during a press conference at the Bank of China Building on Avenida Doutor Mário Soares that after more than three years of preparations, Bank of China (Macau) Limited was now officially open for business.
Bank of China is widely known as BOC.
Li Ruiqiang pointed out that the opening of the company is not only a “strong demonstration” of BOC’s efforts to appropriately diversify Macau’s economy and promote the development of modern finance but also a “major measure” to fully leverage the concerted efforts of BOC in Macau, in order to continue providing local residents with “more high-quality and convenient” financial products and services, adding that the new company was of “great significance” in fulfilling the responsibilities of local mainstream banks.
Li Ruiqiang also said that the new company will accelerate the establishment of an integrated financial services platform, focus on the financial ecology of local core areas such as government affairs, education, integrated hotels, and associations, and enrich local financial business forms such as wealth management, continuously enhance the adaptability, universality and competitiveness of financial services, as well as to accelerate the transformation from traditional commercial banking services to modern digital banking services.
According to BOC (Macau Branch) General Manager Li Guang, the opening of Bank of China (Macau) Limited is another milestone in the development of the BOC Group in Macau, adding that BOC has formed a new operation pattern of “branch + subsidiary bank” in the city, with dual licences.
Li Guang said in a speech during yesterday’s press conference that Bank of China (Macau) will form a synergy with Bank of China (Macau Branch) to provide “more comprehensive, high-quality and professional” financial services to its customers, and play a “bigger role” in supporting the government’s law-based governance, accelerating the development of modern finance and promoting the diversification of economic transformation.
Meanwhile, Chan Hio Peng, director and chief executive of Bank of China (Macau), told the media after the press conference that following the establishment of the subsidiary – Bank of China (Macau), the services for its clients were “basically the same as” the Bank of China (Macau Branch), pointing out that in the future, his company will support the government’s so-called “1+4” appropriately diversified development strategy to promote Macau’s modern financial industry, while hiring a limited number of employees depending on the business.
According to the local government’s 2023 Policy Address, “1” refers to promoting diversified development of tourism and leisure in accordance with the goal of transforming Macau into a world tourism and leisure centre, and making the comprehensive tourism industry stronger and better, while “4” aims to continuously promote the development of Macau’s four key industries, i.e., big health, modern finance, high-tech, MICE, and culture and sports; to gradually increase the proportion of the four industries; to constantly enhance Macau’s economic development momentum and comprehensive competitiveness; and to strive setting up a sustainable industrial structure in line with the reality of Macau.
Bank of China (中國銀行) is a state-owned commercial bank headquartered in Beijing and one of the world’s largest banks. It was founded in 1912.
Bank of China (Macau Branch) General Manager Li Guang delivers a speech during yesterday’s press conference about the opening of its new subsidiary – Bank of China (Macau) Limited, at the Bank of China Building on Avenida Doutor Mário Soares.
– Photo: Yuki Lei
