The president of the Legislative Assembly’s Follow-up Committee for Public Finance Affairs, Mak Soi Kun, said on Monday that the committee will keep a close eye on the possible setting-up of a securities market in Macau.
Speaking to reporters after a closed-door meeting of the committee, Mak said the committee’s first task in the current session was to pay close attention to the proposed securities market as it would have a strong impact on the local economy. “We have to see what the efficiency of this project would be,” Mak said.
The Macau Monetary Authority (AMCM) said in a statement on October 13 that the possible establishment of a yuan-denominated securities market in Macau was still being studied.
Macau’s quasi-central bank also said in the statement that it had commissioned international consultancies to carry out different studies on the feasibility of such a market in Macau.
The statement did not name the consultancy firms hired by Macau’s monetary regulator.
The statement underlined, however, that the feasibility studies are being carried out in line with the Outline Development Plan for the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
According to the Macau Post Daily, the statement said that the viability studies needed to heed the principle that such a market would both maximise Macau’s advantages and meet the nation’s development needs.
According to the statement, the ultimate goal of the studies is to assist the local government in improving the city’s financial sector.
While negotiable financial instruments are traded on a securities market, equities are traded on a stock exchange.