Micro Connect (Macau) Financial Assets Exchange (MCEX), founded by Charles Li Xiaojia, former CEO of Hong Kong Exchanges and Clearing Limited (HKEX), officially started its operation yesterday.
The Micro Connect investment platform uses Daily Revenue Obligations (DROs) that enable global investors to share daily revenues generated by small businesses “transparently and safely”.
MCEX has become the world’s first DRO financial market.
A ceremony marking MCEX’s official operation was held at the Galaxy International Convention Centre (GICC) in Cotai yesterday. MCEX started its trial operation in March this year.
Micro Connect was co-founded in 2021 by Li, who was HKEX’s CEO between 2010 and 2020, and his fellow veteran investor Gary Zhang Gaobo. Micro Connect is headquartered in Hong Kong.
Li is the chairman of Micro Connect, while Zhang is its CEO.
MCEX is headquartered on the 16th floor of the Finance and IT Centre in Nam Van.
MCEX has pointed out previously that it is the world’s first financial market dedicated to micro businesses in China through an innovative new asset investment category, DROs.
In addition to Li and Zhang, yesterday’s ceremony was also attended by a raft of prominent guests such as Chief Executive Ho Iat Seng, Central People’s Government Liaison Office in the Macau Special Administrative Region (MSAR) Director Zheng Xincong, Foreign Ministry Commissioner Liu Xianfa, and Secretary for Economy and Finance Lei Wai Nong.
Around 600 representatives of investors, mainland small and micro firms, financial institutions and media organisations also attended yesterday’s ceremony.
Addressing yesterday’s ceremony, Lei noted that MCEX, as a pioneer in innovating the financial market, is dedicated to small and micro businesses, adding that the exchange has created a new asset investment category that enables mainland small and micro firms to access financing from global investors with the use of fintech.
Lei said that he expected MCEX to leverage Macau’s institutional advantages and its open financial system to attract international capital with the aim of helping mainland small and micro businesses access financing, contributing to Macau’s appropriate economic diversification and the high-quality development of the nation’s economy.
According to its website, Micro Connect is a new financial market platform connecting global capital with China’s small and micro businesses, which have difficulty in accessing investment and financing through traditional financing tools. By making use of fintech, the platform aims to offer the country’s small and micro firms a new alternative for them to access affordable funds to develop their businesses.
According to its website, Micro Connect has created DROs as a new asset investment category that enables global investors to directly invest in the operations of “millions” of small and micro shops in China and then receive investment returns “transparently and safely” through sharing the shops’ revenues every day.
Also addressing yesterday’s ceremony, Li noted that Micro Connect was founded two years ago with the aim of achieving its mission to connect global capital with China’s small and micro firms. Li said that the official operation of MCEX has now enabled Micro Connect to enter its new development phase.
Guests such as Macau Chief Executive Ho Iat Seng (centre), Central People’s Government Liaison Office in the Macau Special Administrative Region (MSAR) Director Zheng Xincong (fifth from left), Foreign Ministry Commissioner Liu Xianfa (fifth from right), Secretary for Economy and Finance Lei Wai Nong (fourth from left), as well as Micro Connect Chairman Charles Li Xiaojia (left) and CEO Gary Zhang Gaobo (right) applaud when attending yesterday’s ceremony at the Galaxy International Convention Centre (GICC) in Cotai marking the start of the official operation of Micro Connect (Macau) Financial Assets Exchange (MCEX).
– Photo: Xinhua
