Macao Banks Working Together to Develop the Service Platform for Trade and Economic Cooperation between China and Portuguese-speaking Countries (“PSCs”)

While the building of “one centre, one platform” is the top policy priority for the MSAR Government, the Monetary Authority of Macao (“AMCM”) is committed to motivating the financial sector to contribute towards the development of Macao as the service platform for trade and economic cooperation between China and PSCs, by capitalizing on the competitive edge of having both Chinese and Portuguese banks operating in Macao. Today, the Bank of China Macao Branch and Banco Nacional Ultramarino S.A. have entered into a cooperative agreement on establishing a more in-depth and comprehensive cooperation relationship for business development in China and PSCs. Through the network of these two banking groups, a platform for exchange of information and a channel of communication can be created to share the market and trade information in China and PSCs so as to realize mutual referrals of businesses between the two parties as well as to strengthen their business cooperation in relation to fund settlement and credits. The AMCM believes that the above cooperative arrangements will not only provide an impetus to the development of Macao as the service platform for trade and economic cooperation between China and PSCs, but also ensure the healthy development of the financial sector given the expanded business scope and the broadened market. The AMCM will, as always, continue to actively motivate the Macao financial sector to make continued contribution towards the building of “one centre, one platform”.