The Monetary Authority of Macao Organized the “Development of Financial Leasing Business in the Macao SAR Forum” in Beijing, China
To implement the policy of developing featured financial industry and to promote financial leasing business development in Macao SAR, with the full support from the Liaison Office of the Central People's Government in the Macao SAR and the assistance from the Chairman Bank of the Macau Association of Banks (i.e. Bank of China Macau Branch), the Monetary Authority of Macao (AMCM) organized the “Development of Financial Leasing Business in the Macao SAR Forum” in Beijing on 14th April, 2016. Yao Jian, Deputy Director of the Liaison Office of the Central People’s Government in the Macao SAR, Fang Li-Ming, Deputy Director of International Department of the China Banking Regulatory Commission, as well as the representatives of Finance Services Bureau and Macao Trade and Investment Promotion Institute have attended the Forum. Other guests attending the Forum included the representatives from China Development Bank, Leasing Business Committee of China Association of Enterprises with Foreign Investment, the Macau Association of Banks, Macau Insurers’ Association and the major financial leasing corporations in Mainland China and Macao. At the forum, the mainland specialists, scholars and industry practitioners shared their experiences and raised valuable suggestions relating to the development of financial leasing in Macao, in particular, their opinions on the enhancement of relevant operating environment by offering more preferential treatments. Together with the comments collected earlier from the local industry practitioners and other related parties, and the results of our own thematic studies, the AMCM will make recommendations on the enhancements of the legal regime and regulatory arrangements for financial leasing business, and report accordingly to the SAR Government. In the same occassion, the AMCM also introduced to the mainland participants the conditions, potentials and strengths of developing financial leasing business in Macao. These included Macao’s free market economic system, specialized legal framework and tax benefits for the financial leasing business, close connection with international financial markets, unique geographical and historical advantages, and especially, Macao’s role as a service platform between China and Portuguese-speaking Countries, etc. At the forum, the AMCM responded to the participants’ enquiries, deepening their understanding of the relevant situation in Macao, which may facilitate the development, cooperation and expansion of the financial leasing industry of both sides. During this trip to Beijing, the AMCM, together with the Liaison Office of the Central People's Government, took the opportunity to visit the People’s Bank of China and the China Banking Regulatory Commission to discuss and exchange views on relevant cooperation and policies supporting the development of financial leasing business in Macao as well as the establishment of Macao as the “RMB Clearing Platform for Mainland China and Portuguese-speaking Countries”.
