Plans for ‘offshore renminbi Nasdaq’ in Macau submitted to Beijing

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A proposal to set up an offshore yuan-denominated “Nasdaq” in Macau has been submitted to Beijing for consideration, according to a senior official from neighbouring Guangdong province.He Xiaojun, director of Guangdong’s Local Financial Supervision and Administration Bureau, said he hoped China’s central government might give its blessing to the plan by mid-December, which marks the 20th anniversary of the city’s return to Chinese administration, the Sina Finance news portal reported on Sunday…

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South China Morning Post provides Hong Kong economy news including annual budget, MPF pensions, retail and transport.

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