Macao SAR inaugurates Central Securities Depository

MACAO, Dec. 15 (Xinhua) -- China's Macao Special Administrative Region (SAR) on Wednesday inaugurated the Central Securities Depository (CSD), with two bonds successfully registered for depository on the day.

The CSD system, providing services of registration, depository and clearing, will consolidate the foundation for developing Macao's securities market and the platform for financial service between China and Portuguese-speaking countries, Lei Wai Nong, secretary for economy and finance of the Macao SAR government, said at the launch ceremony.

Xu Liangdui, deputy general manager of the China Central Depository and Clearing Co., Ltd. (CCDC), said CCDC will work with the counterparts in Macao to help build the city into a major offshore RMB market and a major portal for the opening up of China's securities market.

Developing the securities market is a major move for Macao to diversify its economy and integrate into the overall national development, Xu added.