Macao tipped to play its part in Chinese fintech development

A member of the Fintech Association of Hong Kong’s Blockchain, Digital Banking and Greater Bay Area Committees, Oriol Caudevilla, thinks the links between Macao and the Portuguese-speaking world can play a vital role in developing Chinese financial technology.

He writes in an article carried by the Macau News Agency on Monday that the future of Macao lies in taking opportunities arising from the involvement of lusophone countries in the Chinese-led Belt and Road initiative.

Mr Caudevilla says a new exchange for stocks priced in renminbi could raise money for technology companies in the Guangdong-Hong Kong-Macao Greater Bay Area, similar to the United States’ Nasdaq, and help make the economy of Macao more diverse.

The Chinese Ministry of Commerce announced in August that Macao would be among the places where the digital currency issued by the Chinese central bank would soon be tried out, Mr Caudevilla notes in the Macau News Agency article.