Fu Ziying, Macau’s liaison officer who represents the enclave in Macau, supports Ho’s goal in reducing the importance of gaming. An economic review from the International Monetary Fund (IMF) agrees that finding new sources of tax revenue is critical for the region’s long-term economic stability.<\/p>\n<\/div>\n
The Macau Monetary Authority said forming a stock market would help the enclave diversify away from gaming.<\/p>\n
How? According to Zacks Investment Research, “While stock exchanges are often associated with wealth creation and capitalism, they are much more than a place for brokers to buy and sell shares of companies. Stock exchanges allow businesses access to capital and the opportunity to enhance their visibility and public image.”<\/p>\n
The firm continued, “Savvy businesses can harness the power of stock exchanges to grow and enhance their companies.” For Macau, the enclave would benefit from fees associated with being listed on its exchange, and could also reap rewards from companies setting up shops in the region.<\/p>\n
Business analysts say a Macau stock market isn’t needed, as large exchanges are operational in neighboring Hong Kong, as well as in Shanghai and Shenzhen.<\/p>\n
\nI can’t see Macau’s advantage in being a securities trading center, given Hong Kong has already established itself as a proven offshore securities center for Chinese firms,” Hong Kong Institute of Securities Dealers Chairman Tom Chan told the South China Morning Post<\/i>. “Macau will need to start from scratch on a listing approval and regulatory system.”<\/p>\n<\/blockquote>\n
Hantec Pacific Managing Director Gordon Tsui Luen-on said Macau will need to adequately differentiate its market from Hong Kong and Shenzhen to be successful.<\/p>\n
Portuguese bank Banco Nacional Ultramarino CEO Carlos Alvares said Macau’s securities market won’t be tailored to compete with Hong Kong. “We will be complementary to Hong Kong, because our focus is mainly on Portuguese-speaking countries,” he told Reuters<\/i>.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Macau stock market concept that could reduce the enclave’s reliance on the gaming industry is moving forward through the regulatory approval process. But business experts aren’t so sure it’s a smart strategy. Macau, one of two Special Administrative Regions (SARs) in the People’s Republic of China \u2013 Hong Kong is the other \u2013 is […]<\/p>\n","protected":false},"author":25,"featured_media":117289,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\n
Macau Stock Market Moving Forward to Reduce Gaming Dependency<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n