MACAO, March 10 (Xinhua) -- China's Macao Special Administrative Region (SAR) 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, major financial players from the two sides said.
The ChongWa (Macao) Financial Asset Exchange Co., Ltd. (MOX) and the Luxembourg Stock Exchange (LuxSE) co-hosted a launch ceremony of their future cooperation in Macao on Thursday and a joint conference on development and outlook of offshore financial markets under the Belt and Road Initiative.
Mex Zhang, executive chairman and president of MOX, said the bond market is key to the development of Macao's modern financial industry and an important point for promoting its economic diversification, adding that the MOX's cumulative issuance and listing of bonds has exceeded 300 billion patacas (about 37.29 billion U.S. dollars).
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 Belt and Road financing will be jointly supported, while achieving innovation in the field of green finance and promoting development of the offshore RMB market.
Julie Becker, chief executive officer (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 Macao trading platform into 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 Macao, but also for international investors eager to enter the Guangdong-Hong Kong-Macao Greater Bay Area market, she said.
Huang Zhaohui, CEO and chairman of the management committee of the China International Capital Corporation Limited (CICC), said the 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 in MOX and LuxSE, surpassing 5 billion U.S. dollars in total, including six green bonds. ■
