Macao conference an occasion for international deal-making

Representatives of institutions in the private or public sectors in Mainland China, Macao and the Portuguese-speaking world have signed 11 agreements at a conference in Macao on Wednesday, the Macao SAR Government has announced.

A written announcement issued by the Economy and Finance Secretariat says the agreements on infrastructure, research and training were signed at the 2019 Summit on Chinese Central SOEs Supporting Macao as Co-operation Platform between China and Portuguese-speaking Countries, organised by the Macao SAR Government and the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

The conference is an occasion for Chinese state-owned enterprises to make use of Macao as a place where China and lusophone countries can conduct business, Exmoo News quotes SASAC chairman Hao Peng as saying.

The Macao Chinese-language newspaper says China Three Gorges Corp. and Energias de Portugal SA signed a cooperation deal whereas China Energy Engineering Corp. secured a contract for a water supply project in Mozambique.

The newspaper quotes Mr Hao as saying Chinese state-owned enterprises have started 51 projects in the Portuguese-speaking world since the first such conference was held in 2017, investing 8.8 billion yuan (US$1.24 billion).

Chinese state-owned enterprises have over 400 subsidiaries in lusophone countries, and the subsidiaries hold assets worth nearly 300 billion yuan, the Exmoo News quotes Mr Hao as saying.