Macau | International financial business takes up 80 pct of Macau’s financial industry – AMCM head

Macau (MNA) – Businesses that are outside of the city takes up 80 per cent of the total financial industry in Macau, according to the head of Macao Monetary Authority (AMCM) Benjamin Chan Sau San.

Responding to the legislators’ queries at the Legislative Assembly (AL) of plenary session on Thursday, Mr. Chan said the growth rate of the city’s financial industry has exceeded the rate of the gaming industry, hitting at a growth rate of some 20 per cent in the past 15 years.

Meanwhile, Mr. Chan revealed that five new financial companies were set up in the past three years, in contrast with only one another three years ago.

The majority of financial-related corporations in the city, said the AMCM head, are branches or subsidiaries of multinational financial institutions.

Mr. Chan added that more talents would thus be attracted, while pledging that the government will continue to offer assistance in training local talents for developing the financial industry in the city.