The Chief Executive, Mr Ho Iat Seng, meets with the Ambassador of China to Luxembourg, Mr Hua Ning, in a visit to Luxembourg.
The Chief Executive, Mr Ho Iat Seng, continued his visit to Europe by travelling to Luxembourg, where he met with the Ambassador of China to that country, Mr Hua Ning. They exchanged views on how to continue strengthening cooperation between Macao and Luxembourg, and how to explore new opportunities in economic, trade and finance matters.
The meeting took place at noon local time on Sunday (23 April). Mr Ho had arrived in Luxembourg on Saturday (22 April) as head of a Macao Special Administrative Region (MSAR) Government delegation, following a four-day visit to Portugal.
During Sunday’s meeting, the Chief Executive first thanked the Ministry of Foreign Affairs of China and the Chinese Embassy in Luxembourg for their support for the overseas visit by the MSAR Government delegation.
Luxembourg was the world's largest secondary market for bonds, noted Mr Ho. The purpose of the trip was to understand the operation of that market, and to learn from the country’s experience. Macao’s bond market was still in its preliminary phase. The MSAR Government was nonetheless pressing ahead with development of a secondary market in such financial instruments. It was hoped that Macao’s bond market could be optimised in terms of improving links between bond issuers, investors, and institutional investors on the mainland China and overseas, thereby building Macao into a bond market with unique advantages.
Mr Ho explained to Ambassador Hua the latest progress with regard to Macao and to the Guangdong-Macao Intensive Cooperation Zone in Hengqin. Under the framework of the “One country, two systems” principle, Macao's unique advantages would be further utilised to explore setting up in the Cooperation Zone a financial regulatory system in line with international standards. This could help support development of the Guangdong-Hong Kong-Macao Greater Bay Area, and help Macao develop a modern financial industry that would accelerate the city’s appropriate economic diversification.
During the meeting, the two officials exchanged views on sustainable development for the tourism sector. The Chief Executive said the MSAR Government has been successively organising tourism promotion activities in various countries and regions, with a view to further expanding Macao’s source markets for international tourists.
Mr Ho additionally noted his visit to Portugal had been fruitful in terms of illustrating to the international community the successful implementation in Macao of the “One country, two systems” principle. Since the establishment of the MSAR, and under the protection of the MSAR Basic Law, Macao had made leapfrog economic achievements, and greatly improved the well-being of the city’s people.
Macao had always adhered to the basis of "one country", while making good use of the benefits of "two systems". Macao had successfully promoted – in a practical manner – the implementation in Macao of the “One country, two systems” principle, in order to achieve steady and long-term progress, said Mr Ho.
Ambassador Hua welcomed the visit of the Chief Executive, and briefed him on China-Luxembourg relations and the socioeconomic situation in Luxembourg.
Since the establishment of diplomatic relations between China and Luxembourg 50 years ago, the two countries had maintained good relations. Luxembourg was one of the first European countries to join the the “Belt and Road” initiative and the Asian Infrastructure Investment Bank.
Since its return to the motherland, Macao had seen great progress in terms of its economy, society, and people's livelihoods, with the “One country, two systems” principle successfully implemented, noted Mr Hua.
Luxembourg and Macao had unique characteristics in terms of their economies. There were broad prospects for mutually beneficial cooperation in areas such as green finance, convention and exhibition business, and tourism. Mr Hua said the Embassy would fully support Macao's integration into the motherland’s overall national development, and assist Macao’s strategy for economic diversification, via strengthening exchanges and cooperation with Luxembourg. The Embassy would also support Macao in its promotion to the international community of the successful practising in Macao of the “One country, two systems” principle.
Macao officials attending the meeting were: the Secretary for Economy and Finance, Mr Lei Wai Nong; the Secretary for Transport and Public Works, Mr Raimundo do Rosário; the Chief-of-Office of the Chief Executive’s Office, Ms Hoi Lai Fong; the Chief of Office of the Secretary for Economy and Finance, Ms Ku Mei Leng, and the Chairman of the Board of Directors of the Monetary Authority of Macao, Mr Chan Sau San.
Officials from the Chinese Embassy in Luxembourg present at the meeting were Political Counsellor Ms Wang Yuan; and the Head of Department of Bilateral Affairs, Mr Zong Haifeng.
