Macau studies setting up securities market in push to diversify

HONG KONG: Macau is considering launching a yuan-based stock market to help it diversify away from gaming, its main source of revenue, and align the territory more with China's growth plans for the Greater Bay Area in the country's southern region.

China's cabinet earlier this year unveiled guidelines for the Greater Bay Area around the Pearl River Delta, to spur growth in Guangdong province and the cities of Hong Kong and Macau. Carlos Alvares, chief executive at Banco Nacional Ultramarino , a note issuing bank in Macau, said BNU in June would start a new business line in leasing.

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