The Secretary for Economy and Finance, Lei Wai Nong, said he has not yet carried out in-depth studies on the creation of a Macau stock exchange market in Hengqin, a plan unveiled by mainland state media.
It has been reported this Friday that Beijing is considering setting up a stock exchange to promote Macau’s economic diversification to be set up on the neighbouring island.
This remark was made in a recent reply to an enquiry of members of the Chinese People’s Political Consultative Conference (CPPCC) by the Chinese National Development and Reform Commission, a number of Mainland media outlets, including the state-owned The Paper.
At the Questions and Answer session held on Friday at the Legislative Assembly, Mr. Lei was asked by Government-appointed legislator Davis Fong how a stock exchange will bring advantages to Macau and how it will help boost the SAR’s Gross Domestic product and create more jobs.
The Secretary for Economy and Finance said that more detailed analysis was needed. “I haven’t done a thorough study on this issue yet. The essential thing is to find our market and also to know what is the relationship between the Macau market and the external market,” he said.
Lei Wai Nong added that to move ahead with a stock exchange project, “skilled professionals are needed in this field”, so authorities will prioritize studying on projects wherein they have more confidence in, such as a bond market
