MSAR Government, Bank of China sign strategic cooperation agreement

MACAU, July 20 - The Macao Special Administrative Region (MSAR) Government and the Bank of China Limited recently signed the “Comprehensive Strategic Cooperation Agreement on Bank of China’s Services to the Macao Special Administrative Region Government”.

The signing ceremony was held at the Guangdong-Macao Intensive Cooperation Zone in Hengqin, and was witnessed by the Chief Executive, Mr Sam Hou Fai, and the Chairman of Bank of China, Mr Ge Haijiao. The agreement was signed on behalf of the two sides by the Secretary for Economy and Finance, Mr Tai Kin Ip, and Executive Vice President of Bank of China, Mr Wu Jian.

In a separate meeting prior to the signing ceremony, the Chief Executive and Mr Ge exchanged views on: deepening strategic cooperation; leveraging high-quality financial services to support Macao’s real economy; facilitating the transformation and upgrading of key industries; and promoting the high-quality development of Macao’s modern finance services.

Mr Sam thanked Bank of China for its longstanding support to Macao and its economic development, particularly in advancing the MSAR Government’s efforts for appropriate economic diversification, and for the Cooperation Zone’s development. He noted that Bank of China, as one of the country’s longest-operating and most globally integrated state-owned commercial banks, has been rooted in Macao for 75 years, making outstanding contributions to the MSAR’s financial and economic growth.

Mr Sam expressed his expectation that Bank of China would align with Macao’s appropriate economic diversification strategy and the MSAR Government’s policy objectives, focusing on financial services to bolster the real economy. This included accelerating the high-quality development of modern finance, fostering financial innovation aligned with international standards, and actively participating in the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Cooperation Zone in Hengqin. The goal was jointly to establish a higher-level platform for opening up and to provide residents with enhanced financial services, he added.

Macao officials attending the meeting included: Secretary Tai; the Chief-of-Office of the Chief Executive’s Office, Ms Chan Kak; and Acting Chairman of the Board of Directors of the Monetary Authority of Macao, Mr Vong Sin Man.

Representing Bank of China in the meeting along with Mr Ge and Mr Wu, were: General Manager of the Administration Department, Ms Ning Min; General Manager of the Global Strategy and Development Department, Mr Ren Li; General Manager of the Corporate Finance Department, Ms Wei Hanguang; Deputy Director of Bank of China’s secretariat, Mr Wang Weidong; President of Bank of China Macao Branch, Mr Jia Tianbing; President of Bank of China Guangdong Branch, Mr Ke Jianxun; and President of Macau Tai Fung Bank, Ms Jiang Xin.