Benjamin Chan, head of Macau’s monetary authority (AMCM), gave an interview recently in which he said Macau was “looking at” the idea of launching its own stock exchange. The idea was mentioned in the Greater Bay Area masterplan, released on February 18, and Chan said Macau would launch a feasibility study into it.
Normally, such a statement might not be taken too seriously on its own. But Chan wasn’t just talking off the cuff while wandering around Macau’s beautiful old neighborhoods. He said this in an interview with the official Securities Times news media, which is China’s bible on policy related to stock markets.
Apparently, Chan thinks there is some merit in the idea of Macau establishing a stock exchange that would be denominated in RMB. That is right: an offshore stock market denominated in, and settled in, the Chinese currency.
We cannot imagine how Macau might have the resources or the expertise to pull something like this off. But it might be a long-term plan. And, as Chan said, it’s just an idea at this stage.
Read more (in Chinese).