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Macao banks to help China do business with lusophone world

Macau Association of Banks President Li Guang has promised that members of his association will help Macao perform its function as a place where China and the Portuguese-speaking world can conduct business, the Macao SAR Government says.

An official statement issued on Tuesday quotes Mr Li as telling Macao Chief Executive Ho Iat Seng in a meeting that the association will back the development of a finance industry serving the Guangdong-Hong Kong-Macao Greater Bay Area.

Mr Li said the Guangdong-Macao Intensive Cooperation Zone on the island of Hengqin, which abuts Macao, presented great opportunities for the finance industry in Macao.

The chairman of the association, Ip Sio Kai, said its board had set up committees which would deal with matters including the Hengqin zone, and financial services to facilitate economic engagement by China and lusophone countries, according to the official statement.