Business
2019.12.18 13:02 GMT+8

Portuguese bank facilitates cooperation between China and Portuguese-speaking countries

Updated 2019.12.18 13:02 GMT+8
CGTN

Portuguese bank Banco Nacional Ultramarino (BNU) serves as an anchor for companies in Portuguese-speaking countries to do businesses in China, said Carlos Alvares, CEO of the bank.

BNU is open to more partnerships that will facilitate links between companies in China and in Portuguese-speaking countries, using Macao as a platform, he said. 

In 2015, for example, the two banknote issuers in Macao, BNU and the Bank of China (BOC), signed a cooperation protocol to promote cooperation between the two sides.

BNU is now seizing fresh opportunities in the Greater Bay Area, which has a population of over 70 million and accounts for over a third of China's total imports and exports volume.

Alvares said the Greater Bay Area is a fast-growing area with increasing investment, presenting strong opportunities for companies in China and Portuguese-speaking countries to collaborate. 

The bank opened a branch in the Hengqin District in southern Guangdong Province in 2017. It is the first bank located in Macao to open a branch in the Chinese mainland, and also the first international bank to open an office in the Hengqin Free Trade Zone.

"It was opened mainly to help Macao people that invest in [the Chinese mainland]. But we think we can open the scope, and help companies from the two sides to do more business using Hengqin as a platform," said Alvares.

As this year marks the 20th anniversary of Macao's return to the motherland, Alvares said that Macao is completely different.

"In terms of economic environment, [Macao has] no unemployment, almost. I came from Europe, a lot of people talk about crisis. I never heard this word here. I heard the word 'opportunity' instead of crisis," Alvares said.

Alvares said Macao's current economic mainstay is the gaming industry, which accounts for about 50 percent of the total GDP. However, the government is attempting to diversify the economy. 

Copyright © 

RELATED STORIES