The Guangdong-Macau In-Depth Cooperation Zone in Hengqin has achieved a significant clustering effect in the financial sector, and the asset management scale of licensed institutions in the zone, approved by the China Securities Regulatory Commission (CSRC), exceeds six trillion yuan (6.77 trillion patacas), while the scale of private equity funds has surpassed 680 billion yuan, ranking among the highest in the country, the director of the zone’s Financial Development Bureau, Chi Tenghui, said during a symposium on Tuesday, according to a statement issued by the organisers.
The one-day “Greater Bay Area (GBA) Investment Fund Symposium,” which was held at the Artyzen Grand Lapa Macau in Nape, aimed to enhance the professional knowledge of financial practitioners through in-depth discussions and exchanges on the development of the Greater Bay Area (GBA) investment fund market and cross-border investment fund collaboration, the statement said.
Chi added, according to the statement, that the recent implementation of the “Investment Funds Law” has established a solid institutional foundation for Macau’s fund industry, promoting its connectivity with global markets, and attracting domestic and international capital and institutions to participate in the development of the local financial market.
Monetary Authority of Macau (AMCM) Acting Chairman Vong Sin Man noted in a speech that in order to promote the development of modern finance, AMCM has accelerated various legislative and amendment efforts in recent years, adding that the Investment Funds Law will take effect on January 1 next year.
Vong added that as a core city in the Guangdong-Hong Kong-Macau GBA and a nexus of the country’s “dual circulation” strategy, Macau boasts advantages such as free flow of capital, a stable financial system, and a simple low-tax regime, making it highly competitive in developing international trade and finance, adding that in the future, AMCM will further refine existing laws, regulations, and supervisory guidelines, strengthen promotional efforts, and create broader development opportunities for the local financial industry.
This photo, provided by the Securities and Funds Industry Association of Macau shows the participants posing for a group photo during the “Greater Bay Area (GBA) Investment Fund Symposium,” at the Artyzen Grand Lapa Macau in Nape on Tuesday.
