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Macao considers yuan-denominated stock exchange

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Macao considers yuan-denominated stock exchange

Macao is mulling over the establishment of a yuan-based stock market, Reuters reported June 4, citing an email from the city's de-facto central bank.

The Monetary Authority of Macao is starting feasibility studies for a securities market, including a stock market, the email said.

The central bank said the city is in a strong position to promote itself as a financial services platform between China and Portuguese-speaking countries.

The feasibility studies come as Macao looks to diversify its economy away from gambling and align itself more with China's growth plans for the Greater Bay Area around the Pearl River Delta. Under China's plans for the area, it would support Macao in developing financial products and services, as well as a securities market and a green finance platform.