The Macau bond market: The need for a comprehensive securities law
Abstract
This paper examines Macau’s bond market development as a strategy for economic diversification, highlighting the need for a comprehensive securities law (Lei dos Valores mobiliários [LVM]). Recent progress includes the establishment of the China (Macau) Financial Assets Exchange Co. Ltd (MOX) and the Macao Central Securities Depository and Clearing (MCSD), which have improved market infrastructure and transparency. The current fragmented regulatory framework, however, requires the LVM to streamline oversight and enhance investor confidence. The LVM is crucial for fostering a liquid secondary market and positioning Macau as a competitive financial hub. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Tam Chi Neng is a legal professional specialising in financial law, currently serving as an adviser to the Secretary for Economy and Finance in the Macau Government. Previously, António was a senior associate at MdME Lawyers, admitted to practice in both Macau SAR and Portugal. Throughout his distinguished career, significant roles include serving as a legal adviser at the Monetary Authority of Macau and as the Company Secretary for the Macau Central Securities Depository and Clearing Limited (MCSD). In these capacities, he played a crucial role in the modernisation of financial laws and regulations. António is currently pursuing a PhD and works as a part-time lecturer at the University of Macau, focusing on trust law, investment fund law, securities law and insurance law.
