The Government is dedicating further effort to enhancing Macao’s legal framework and supervision capabilities in relation to optimising operation of a bond market in Macao.

The Secretary for Economy and Finance, Mr Lei Wai Nong, made the remarks on Monday (13 January) on the sidelines of a signing ceremony for a memorandum of understanding regarding cooperation between Chongwa (Macao) Financial Asset Exchange Co., Ltd, and Luxembourg Stock Exchange.

The Government would work closely with Macao’s financial services sector, in order to attract a greater number of bond issuers to set up and trade products in a Macao primary market and a Macao secondary market, Mr Lei said. A prosperous bond market would play an important part in supporting Macao’s economic diversification effort, he added.

In addition, the Secretary emphasised that the Government was still studying the feasibility of issues relating to the establishment of a stock market in Macao and would announce in a timely manner the results of its research. The Government would need to consider relevant issues from a variety of perspectives: Macao’s overall regulatory system; market demand; Macao’s access to professionals in related fields; and the role of investment banks and funds.

When asked about Macao’s economic outlook, Mr Lei reiterated that the city continued to maintain a steady course in its development. The Government would closely monitor developments in external economies, and would take precautionary steps – such as using financial measures and subsidies to support Macao’s economy – if it were deemed necessary.