On November 23, CICC signed a strategic cooperation framework agreement with Chongwa (Macao) Financial Asset Exchange Co., Ltd. (“MOX”) in Macau. The signing ceremony was attended by Mr. Lei Wainong, Secretary for Economy and Finance of Macao S.A.R., Ms. Zhu Hong, Deputy Director General of Economic Affairs Department of the Liaison Office of the Central People’s Government in the Macao S.A.R., Mr. Ding Tian, Deputy Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Co-operation Between China and Portuguese-speaking Countries, Mr. Fu Jianguo, Chairman of Nam Kwong (Group) Co., Ltd.  (“Nam Kwong”) and MOX, Mr. Huang Zhaohui, CEO of CICC, and representatives of business and financial leaders in Macao. 

MOX is Macao’s first financial institution engaged in financial asset registration, custody, settlement and trading. Starting from fixed-income and overseas state-owned asset transaction services, MOX has proactively played its role as a financial market infrastructure since its founding in 2018 to promote the development of the modern financial industry in the region. Up to date, MOX has issued and listed totally over MOP 100bn bond products of various types, including central government bonds, financial bonds, corporate bonds, green bonds and anti-pandemic bonds.

At the ceremony, Mr. Huang Zhaohui, CEO of CICC, said: “Macao will become one of the financial centers in the Guangdong-Hong Kong-Macao Greater Bay Area, and the Chinese central government has announced numerous policies with a focus on the development of Macao’s financial industry, including policies which support the building of a ‘financial service platform between China and Portuguese-speaking countries,’ the establishment of a renminbi clearing center for Portuguese-speaking countries, the development of distinctive financial services and the construction of a green financial platform. Based on deeper ties of mutual trust and benefits and following the principle of contribution and consultation, CICC and MOX will strengthen cooperation in countries and regions along the Belt and Road, the China-Portugal economic and trade cooperation, the construction of a renminbi investment and financing center for Portuguese-speaking countries and other fields, and jointly promote financial innovation, enhance their international influence and advance renminbi internationalization.”

Mr. Peng Jinhong, Chief Accountant of Nam Kwong and Vice Chairman of MOX, said in his speech: “As an emerging local financial institution, it was a great pleasure of MOX to work with CICC under the background of the BRI, renminbi internationalization and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, as well as the development pattern of ‘dual circulation’ where domestic and foreign markets can boost each other with the domestic market as the mainstay. The two parties can leverage their respective strengths and promote deep cooperation in bond, overseas state-owned equity transaction and other businesses, in order to contribute to Macao’s influence in the international financial market and the region’s integration into China’s bigger picture of development.”

With the normalization of pandemic prevention and control in the mainland and Macao, both parties will seize the opportunities in China’s accelerating opening-up to continuously strengthen cooperation and exchanges, and jointly explore new opportunities in domestic and overseas markets. The successful signing of the framework agreement will attract tremendous attention and participation from various parties in the markets at home and abroad to Macao’s distinctive financial services development and facilitate the building of a new development pattern for the region’s distinctive financial industry.