Macao's proposed 'Nasdaq' complementary exchange

THE MONETARY AUTHORITY OF MACAO HAS ANNOUNCED that a feasibility study on building an offshore renminbi securities market in the special administrative region is being conducted by an international consultancy firm. The Beijing News comments:

He Xiaojun, director of the Guangdong Financial Supervision and Administration Bureau, said at the eighth Lingnan Forum on Saturday that a plan to build a Macao securities exchange has been submitted to the central government with the aim of establishing it as the Nasdaq of the renminbi offshore financial market.

Such a move would be complementary rather than competitive.