Macau (MNA) – Millennium bcp has signed a Clearing and Settlement of Renminbi Business agreement with the Bank of China Macau, reinforcing its presence in the Chinese market, a region with numbers of Portuguese-speakers.
With this agreement Millennium bcp becomes the first bank in Portugal to be considered a Participating Bank with access to Macau’s payments system. The Bank of China Macau, a bank designated by the PBOC, is the Chinese bank for clearing Renminbi for Portuguese-speaking countries.
João Nuno Palma, Millennium bcp vice-president, said ‘there are many benefits, for the Portuguese economy and as well as the economies of Angola and Mozambique, in strengthening relations with China. Millennium bcp is focused on establishing strong relationships with China and aims to have a significant presence in the Chinese market via Macau.’
This protocol was signed during the 13th “Meeting of Businesspeople for Economic and Commercial Cooperation between China and the Portuguese- Speaking Countries,” organized by Portugal’s trade promotion entity AICEP, the China’s Council for the Promotion of International Commerce (CCPIT) and Macau’s Institute for the Promotion of Commerce and Investment (IPIM).
The agreement is designed to develop business and operations between Macau and the Portuguese-speaking regions, by way of the connection that Portugal represents with the Community of Portuguese-Speaking Countries.
Portugal’s technical and international capacity in areas including construction, energy and telecoms will also help encourage projects in partnership with Chinese companies.
