The Macao branch Bank of China (BoC) and two Portuguese banks, Millennium BCP and Crédito Agrícola, have agreed to promote Macao as place where enterprises in the Portuguese-speaking Countries can make settlements in renminbi, the Macao Daily News reports.
The newspaper says representatives of the three banks signed agreements to this effect in Lisbon, at the 13rd Business Meeting between China and Portuguese-speaking Countries.
The report says the agreements will allow Millennium BCP to do business in renminbi in Macao more easily, and allow BoC Macao to render renminbi financial services to customers of Crédito Agrícola that trade in agricultural products.
Also at the Lisbon meeting, BoC and the Macao Trade and Investment Promotion Institute agreed to support the development of Macao as a place where China and the Portuguese-speaking Countries can conduct business, the Macao Daily News says.
