Hong Kong – Macau is hosting a record amount of bond listings as the world’s top gambling hub boosts efforts to diversify its economy and establish itself as an alternative financing hub for Chinese firms.
A combined US$28.1 billion (S$38.2 billion) of bonds have started trading this year on the Chongwa (Macao) Financial Asset Exchange, a local exchange known as MOX, according to Bloomberg-compiled data. Around 63 per cent of these new notes are yuan-denominated and mostly issued by Chinese local government financing vehicles, or LGFVs.
The tally marks significant progress for MOX, where bond listings totaled slightly over US$600 million at its inception in 2018, thanks to Macau’s initiatives to make debt registration cheaper and…
