The "Overall Plan for the Construction of the Hengqin Guangdong-Macao Intensive Cooperation Zone" was released, with special emphasis on the development of the modern financial industry, but the plan did not mention the "Macau Stock Exchange".
But this does not mean that the "Macau Stock Exchange" has failed, but that the time has not come.
In fact, Macau is still struggling to set up the world's first offshore RMB securities trading market.
As the world's largest offshore renminbi center, although Hong Kong has obvious advantages over Macau, it is by no means a peace of mind.
Hong Kong has been built into the world's largest offshore RMB center. The Hong Kong Stock Exchange certainly has advantages, but it has not been promoted whether or not to use RMB-denominated transactions.
If the Macau Stock Exchange is the world’s first offshore renminbi securities market, it is of course possible. The central government is concerned about the multi-level capital market and the internationalization of the renminbi. Hong Kong or Macau who is fully prepared will take it. This task.
But for the Hong Kong Stock Exchange, although it will not impact its status as an international financial center, its business will inevitably be affected.
The "Overall Plan for the Construction of the Hengqin Guangdong-Macao Intensive Cooperation Zone" did not mention the "Macau Stock Exchange."
The picture shows the night view of Hengqin and Macau.
(China News Service)
However, Macau not only lacks financial talents, but also does not have the "infrastructure" required by the entire financial industry.
In addition, Macau practices continental law instead of common law.
The laws to protect small investors in the financial market vary from source to source.
In other words, Macau has to do more work to give international investors confidence.
Relatively speaking, Hong Kong’s financial infrastructure is definitely better and has more international Hong Kong stocks. However, Hong Kong must not ignore the two advantages of Macau...
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For details, please read the 282th "Hong Kong 01" e-weekly report (September 13, 2021) "
Macau Exchange on the road, what attitude does Hong Kong treat?
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