HK, Macau to expand cooperation in financial infrastructure, info exchange

Hong Kong and Macau’s de facto central banks have signed a revised Memorandum of Understanding, expanding cooperation to broader areas such as financial infrastructure and information exchange.

The Hong Kong Monetary Authority and the Monetary Authority of Macao will expand the scope of collaboration to cover additional areas including financial infrastructure linkage, information exchange on currency and data statistics, and industry training and engagement, according to a statement on Tuesday. 

The two regulators have maintained close cooperation in banking supervision for many years and the revised MoU layed a more solid foundation for deepening financial collaboration between the two SARs, said HKMA chief Eddie Yue Wai-man.

The newly amended MoU will serve to deepen and broaden the comprehensive cooperation between the two authorities, enabling both parties to uphold the sustained and steady development of their financial markets, while also providing strong support for the national strategic goal of developing the Greater Bay Area into an international financial hub, said the AMCM chairman Simon Vong Sin-man.