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China, Macau central banks sign cooperation agreement

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China, Macau central banks sign cooperation agreement

The People's Bank of China and the Autoridade MonetÁria De Macau signed a memorandum of understanding to enhance cooperation on financial policies and supervision.

Under the agreement, the two central banks will set up an information sharing and notification framework, deepen cooperation in financial supervision and improve exchange and training of financial talents, according to a Sept. 5 release.

The regulators will also improve the supervision and promotion of fintech and mobile payments.

In addition, the Chinese central bank will support the stable and healthy development of featured finance in Macau, particularly fostering cooperation in the areas of financial leasing, yuan settlement between China and Portuguese-speaking countries and wealth management, among other financial activities.