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China announces measures to support Macau's economic and financial development: Regulator

China announces measures to support Macau's economic and financial development: Regulator

The hotel-casinos of Macau. (AFP/Eduardo Leal)

HONG KONG: China banking and insurance regulator on Friday (Dec 20) announced measures to further strengthen financial cooperation between Macau and the Mainland China.

The measures include supporting Macau banks to set up institutions in the mainland and also supporting mainland insurance funds to invest in Macau, on condition of compliance and controllable risks, the regulator said in a statement.

The announcement came after Chinese President Xi Jinping finished his three-day visit to the territory to celebrate its 20th anniversary of return from Portuguese rule.

READ: President Xi Jinping to lead Macau handover party

Xi said he hoped Macau would establish more patriotic associations to "perfect" governance and ensure stability and prosperity.

Source: Reuters/nr

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