Hong Kong and Macao central banks deepen financial cooperation
The Hong Kong Monetary Authority and the Monetary Authority of Macao signed a revised Memorandum of Understanding today to enhance financial cooperation. The agreement expands collaboration into areas like financial infrastructure and data exchange.
New pillars of collaboration
The revised Memorandum of Understanding (MoU) expands the scope of collaboration between the HKMA and AMCM.
Key new areas include financial infrastructure linkage, information exchange on currency and data statistics, and industry training and engagement.
HKMA Chief Executive Eddie Yue noted these efforts enhance synergy and enable both cities to contribute to the country's economic and financial development, laying a more solid foundation for deepening financial collaboration.
Strengthening Greater Bay Area ties
The financial cooperation between Macao and Hong Kong is built on solid foundations, including long-standing collaboration in banking supervision.
AMCM Chairman Simon Vong noted that the amended MoU deepens comprehensive cooperation, supporting sustained financial market development.
This also provides strong support for the national strategic goal of developing the Guangdong-Hong Kong-Macao Greater Bay Area into an international financial hub.