Following the hosting of the “3rd Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese Speaking Countries” in Macao, a “Financial Theme Seminar for Chinese and Portuguese Financiers” organized by the Development Bank of China and the Monetary Authority of Macao, was successfully held on 14 November 2010. More than 300 representatives from 4 continents / 8 countries conducted dialogues on the topic of deepening the financial cooperation between China and Portuguese speaking countries. Financial professionals from the Mainland of China and the 7 Portuguese speaking countries who attended as invited the “3rd Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese Speaking Countries” participated, jointly with representatives from local financial institutions, totalling 320 representatives, in the “Financial Theme Seminar for Chinese and Portuguese Financiers” organized by the Development Bank of China and the Monetary Authority of Macao. Mr. Lu Shumin, Commissioner of the Ministry of Foreign Affairs, Mr. Wang Xindong, Director of Economic Department of Liaison Office of the Central People’s Government, Mr. Hou Shaoze, Director-General of the Development Bank of China, Mr. Anselmo Teng, Chairman of the Monetary Authority of Macao together with the representatives of the central banks of the 7 Portuguese speaking countries and Mr. Ye Yixin, Chairman of the Macao Association of Banks, officiated the inauguration ceremony. Mr. António Félix Pontes, Executive Director of the Monetary Authority of Macao acted as the facilitator of the Seminar. The theme surrounded the methodology of how to better the implementation of the conclusions arrived at in the Forum relating to the promotion of cooperation between China and Portuguese speaking countries in the financial realm. Simultaneously, the Seminar enabled the Chinese and Portuguese financiers who came afar for the Forum to have sufficient time to discuss and communicate with a view to promoting the cooperation and development in the financial field as well trade and commerce. In the Seminar Mr. Vitor Pessoa, Member of the Board of Directors of the Bank of Portugal, who had been the Secretary for Economic Co-ordination before Macao’s return to China, had an indepth understanding of the Macao economy and its financial sector. He deemed that, through the platform of the Forum, the economic and trade activities of China and Portuguese speaking countries would increase. The participation in trade finance by the financial sector would certainly enlarge the trade volume between China and Portuguese speaking countries. Mr. J. Fadia, President of the Central Bank of Guiné-Bissau, signed a memorandum of understanding with the Monetary Authority of Macao. This is the 6th memorandum of such nature between the Monetary Authority of Macao and an overseas central bank. Mr. Fadia deemed that the execution of such a document had fulfilled the purpose of his visit in formulating a closer working relationship with the financial regulator of Macao. Mr. Abraão Vasconselos, Chairman of Banking & Payments Authority of Timor-Leste, said in the Seminar that he was glad to see so many new achievements, specifically the setting up of a special purpose fund and a training centre, which would facilitate the nurturing of professionals of the participating countries. This was a long term development arrangement. Mr. Lo Bochuan, President of People’s Bank of China Guangzhou Regional Branch, said that by making use of Macao as the bridge, institutions of the Mainland could expand and develop more financial business in view of the fact that Macao has long term friendly relationship with these countries. In addition, he saw potential of diversified development in the financial cooperation between the territories. The two representatives of Macao Association of Banks, Mr. Ye Yixin, General Manager of Bank of China Macao Branch and Mr. Artur Santos, President of the Executive Committee of Banco Nacional Ultramarino, made speeches respectively. As the accountable persons of Chinese and Portuguese capital banks in Macao, they endorsed in an affirmative manner the cooperation of China and Portuguese speaking countries in the financial realm. They were willing to make use of their banking networks to serve as channel of cooperation with banks of Portuguese speaking countries. In this way, the liaison between the financial institutions of the Mainland and Portuguese speaking countries could be enhanced which would certainly embody the principles laid down in the Action Plan outlined in the Forum. Mr. Hou Shaoze, Director-general of the Development Bank of China, made the final conclusion. He raised a number of proposals which would help to realize the financial cooperation mechanism under the framework of the Forum.
