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China’s Ministry of Finance issues public debt in Macau

Fri, 5th Jul 2019

China’s Ministry of Finance on Thursday issued debt securities in the amount of 2 billion renminbi, “in order to support the development of the territory’s bond market,” according to recently released information.

The issuance, organised by Chongwa (Macao) Financial Asset Exchange Co., Ltd., of the Nam Kwong group, was signed on Wednesday with the Central Depository & Clearing Co., Ltd. during a ceremony attended by the Secretary for Economy and Finance, Leong Vai Tac.

The statement said that the issuance of government debt securities “is an important initiative, within the framework of central government support, for further development of financial activities with their own characteristics, as well as for the promotion of adequate diversification of Macau’s economy.”

The Macau government welcomed the issuance of debt securities in the territory, saying that “this announcement symbolises a new stage in the development of Macau’s financial market (…) and in promoting the appropriate diversification of Macau’s economy.”

Chongwa (Macao) Financial Asset Exchange Co., Ltd. was incorporated in December 2018, having already admitted to listing bonds issued by Luso International Banking Ltd. in Macau and the first issue in patacas of the Guangdong-Hong Kong Macau Greater Bay Ares by the Macau branch of the Bank of China.