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Ho Iat Seng Expects MO Tourist Numbers to Top 30M This Yr; Drafting of Securities Law in Process
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According to Radio Macau, Macau Chief Executive Ho Iat Seng estimated that the number of tourists visiting Macau this year will definitely exceed 30 million. With Macau achieving a balanced budget this year, he believed that the city's finances next year would be trouble-free, as it had a stable income in 1Q24. Ho said the Macau government is aware that the city's tourist areas are relatively prosperous, while livelihood areas have problems with footfall at weekends. Macau lawmaker Ip Sio Kai is concerned about whether the Macau government has plans to upgrade the Macau Central Securities Depository System (MCSD), expand the construction of Macau's secondary bond market, and introduce competitive financial subsidy policies to lower the cost of issuing bonds in Macau, according to the Macau Daily News. Ho responded that the bond market is an important part of the financial sector within Macau's "1+4" development plan. He pointed out that references could be drawn from systems in Hong Kong and Singapore, but emphasised that Macau's law system is based on statute law, which is different from that of common law jurisdictions. The Macau government is now working on the drafting of a securities law and is launching a consultation with the industry. AAStocks Financial News |
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