Exclusive: Protest-free Macau to win financial policy rewards from China [Reuters (UK)]
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Source: Reuters
Exclusive: Protest-free Macau to win financial policy rewards from China - Reuters 7 Min Read MACAU/HONG KONG (Reuters) - Chinese President Xi Jinping will visit Macau next week to announce a raft of new policies aimed at diversifying the city’s casino-dependent economy into a financial center, according to over a dozen interviews with officials and corporate executives. The move is seen by officials and executives in Macau as a reward for having avoided the anti-government protests that have gripped nearby Hong Kong over the past six months. The policies include the establishment of a yuan-denominated stock exchange and the acceleration of a renminbi settlement center already in the works, as well as the allocation of land for Macau to develop in neighboring mainland China, they said. While there has been speculation about the proposals in recent months, the fact they have been officially approved has not previously been reported. “The financial industry used to be an idea that we re
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