The central government will issue government bonds worth 2 billion yuan (2.34 billion patacas) in Macau on July 4, the Ministry of Finance and the local government announced Tuesday.
The move will further strengthen financial cooperation between the mainland and the Macau Special Administrative Region (MSAR), and provide investors with safe and sound investment options, the joint announcement said.
According to a statement by the Macau Government’s Spokesperson’s Office, the local government welcomes the issuance of the yuan bonds in Macau, noting that it “marks a milestone in the development of Macau’s financial sector and accelerates progress regarding the development of a local bond market”.
Beijing’s decision to issue government bonds for the first time in Macau – and in particular during the year that will mark the 20th anniversary of Macau’s return to the motherland – “demonstrates the central government’s support for Macau’s specialised financial services and for the city’s adequate economic diversification effort,” the statement said.
“The bonds will appeal not only to corporate investors but will also provide the Macau public with an option for prudent investment,” the statement, pointing out that locals will be able to subscribe to the bonds via participating banks.
“Detailed information regarding the distribution network for the product will be made available in a guidance manual on the government bonds and via announcements by competent authorities,” the statement said.(Macaunews)