Recently, the "Connecting Macao and Hengqin, Linking Portugal and Spain: Seminar on Deepening the Application of RMB Offshore Market and Multilateral Financial Cooperation," co-hosted by the Bank of China, was held in the Hengqin Guangdong-Macao In-Depth Cooperation Zone. Nearly 100 guests attended, including representatives from the People's Bank of China, the Monetary Authority of Macao, relevant government departments of the Hengqin Guangdong-Macao In-Depth Cooperation Zone, local Macao business partners, mainland enterprises, and experts and scholars.
This seminar focused on the international use of the RMB, jointly explored the development trends of the offshore RMB market, and explored multiple paths to promote the application of the RMB in the offshore market. It aimed to build consensus among regulators, the financial industry, and enterprises, deepen Macao's role as a "precise connector," and expand financial cooperation with Portuguese-speaking and Spanish-speaking countries.
As the sole RMB clearing bank in Macao, the Bank of China's Macao branch has long played a crucial role in the construction of the cross-border RMB payment and clearing system, financial product innovation, and the development of the China-Portugal platform. The Bank of China will continue to leverage its global advantages and comprehensive characteristics to actively expand the application of RMB in trade finance and cross-border settlement, injecting more financial momentum into promoting China-Portugal economic and trade cooperation.
