Macau: Local bank delegation promotes city as RMB clearance centre in Mozambique, Angola and Cape Verde

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Macau: Local bank delegation promotes city as RMB clearance centre in Mozambique, Angola and Cape Verde

4:20 CAT | 13 Feb 2019

Photo: Macauhub

A delegation headed by the Macau Monetary Authority (AMCM) and representatives from local banks Banco Nacional Ultramarino (BNU) and Bank of China –Macau Branch (BOC Macau) visited Mozambique, Angola and Cape Verde to promote Macau as an RMB clearance centre.

The trip to the three Portuguese-speaking African countries took place between January 9 and 19 and included AMCM Executive Director,Simon Vong, the BNU Executive Director,Sam Tou and the Deputy General Manager of BOC Macau, Wang Jun.

The visit looked to promote Macau as a financial platform between China and the Portuguese-speaking countries and the use of the RMB in financial transactions between parties in the different regions.

The delegation held meetings with the management of central banks of the three countries and several banks affiliated to BNU’s parent company, Caixa Geral de Depósitos (CGD), namely BCI (Banco Comercial e de Investimentos), in Mozambique BCGA (Banco Caixa Geral Angola) in Angola, BCA (Banco Comercial do Atlântico) and BI (Banco Interatlântico) in Cape Verde.

Meetings with the Mozambique Association of Banks, the Mozambique Chamber of Commerce, the Confederation of the Business Associations of Mozambique, the Angolan Banking Association, the Cape Verde TradeInvest and the Cape Verde Stock Exchange were also held.

BOC Macau also organised a seminar in Angola under the theme: Macau – RMB Clearing Center for the Portuguese Speaking Countries.

Promoting Macau as RMB clearing centre for Portuguese-speaking Countries was one of the objectives indicated for the city by the Chinese central government and stated by Chinese Premier Li Keqiang upon his visit to Macau for the 5th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries in 2016.

Source: Macau News