Macau | BOAO Forum: Panel analyses local financial opportunities linked to Belt and Road strategy

Macau (MNA) – The relation of Macau with Portuguese speaking countries is the main boon for the local financial sector development in the context of the Belt and Road initiative, a panel of experts said today during “The Belt and Road and the Specialized Financial Services” meeting. The session was held as part of the BOAO Forum for Asia Development Summit (Macau).

Robert Koepp, Network Director of Economist Corporate Network, also said that Macau, because of its background, can understand the analytical way of thinking of Western financial institutions. However, Mr. Koepp said, local financial sector should undertake investigation to see what it should improve.

Kenneth Feng, vice-president of MGM holdings limited, added that Macau should take advantage of its relation with western financial entities too. But, differently, it should be attracting foreign financial bodies because of its relation with mainland China.

Li Peng, Chairman of the Board of China Huarong Financial Leasing, also said that the geographic location of Macau and its policy are a great boon to the city in its relation with mainland China. However, he indicated that local financial services are not enough well developed. Song Yunsong, director of CPD Fund Management Company, said that “there is a lot of things that can be done in the inside,” to improve the financial sector.

Wilson Vong, Executive Director of the Monetary Authority of Macau, said that the One Belt One Road initiative provides an opportunity promote the financial sector strength and diversify the local economy beyond gaming.