MACAU/HONG KONG (Dec 12): Chinese President Xi Jinping will visit Macau next week to announce a raft of new policies aimed at diversifying the city’s casino-dependent economy into a financial centre, according to over a dozen interviews with officials and corporate executives.
The move is seen by officials and executives in Macau as a reward for having avoided the anti-government protests that have gripped nearby Hong Kong over the past six months.
The policies include the establishment of a yuan-denominated stock exchange and the acceleration of a renminbi settlement centre already in the works, as well as the allocation of land for Macau to develop in neighbouring mainland China, they said.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)