Banks, depository and clearing firm ink RMB20 bln deal to help Fujian's cross-border bond issuance in Macao

A strategic cooperation agreement on cross-border bond issuance worth 20 billion yuan was inked on Monday between Macao Central Securities Depository and Clearing Company, Xiamen International Bank and its subsidiaries Luso International Banking Ltd. and Chiyu Banking Corporation Ltd., aiming to attract more investment in Fujian province and deepen cooperation between Fujian and Macao, reported Chinanews.com.

According to the agreement, the parties will actively strengthen the mutually beneficial cooperation between Fujian and Macao, set a good example of regional cooperation, and help enterprises in Fujian achieve high-quality development, said an official of Xiamen International Bank.

During the signing ceremony, Lei Wai Nong, secretary for economy and finance of the Macao Special Administrative Region (SAR) government, said in a video speech that the scale of Macao's bond market is steadily expanding, and more kinds of bonds including corporate bonds, financial bonds and green bonds have been issued in Macao, which have been actively supported by enterprises in Fujian province. The two regions enjoy frequent economic and trade exchanges and investment, and a solid foundation and broad space for industrial cooperation.

Under China's "dual circulation" development pattern, Fujian provincial government and enterprises are expected to make use of Macao's highly open financial system to expand their overseas financing channels, and promote the practical implementation of financial cooperation between Fujian and Macao while helping the development of the real economy, so as to achieve mutual benefits and win-win results, Lei added.