News provided by World News Media
LONDON, July 13, 2020 /PRNewswire/ -- Bank of China Macau Branch (BOCM) has won Best Commercial Bank and Best Retail Bank in Macau at World Finance magazine's Banking Awards 2020. These prestigious titles recognise the bank's unwavering commitment to the region's economic development.
Since it was established in 1950, BOCM has served as a pillar of stability in Macau's economy and society. Nearly half of all banking business in the region is facilitated by BOCM, which is also the Bank of China Group's most profitable overseas branch. Now, as the branch celebrates 70 years in operation, it is poised to play a key role in Macau's next stage of evolution through the the Belt and Road Initiative and the development of the Guangdong-Hong Kong-Macau Greater Bay Area.
"Macau is uniquely positioned as a core city for the Greater Bay Area and the Belt and Road Initiative, presenting BOCM with many opportunities but also a great deal of responsibility," Li Guang, General Manager of Bank of China Macau Branch, wrote in an exclusive article for World Finance. "We are keen to ensure that businesses, both domestic and international, have access to the capital they require in order to participate in these ambitious development programmes."
As well as issuing government bonds, offshore renminbi bonds and pataca bonds for this purpose, BOCM has also launched the country's first green bond. This landmark move significantly raised the profile of Macau's financial institutions in the international bond market.
The bank is also breaking new ground by spearheading digital banking solutions in Macau. It recently announced the creation of BoC Pay, an online payment channel that supports Alipay, WeChat and UnionPay. In addition, BOCM is currently developing a Sino-Lusophone investment and financing service platform, which would provide critical information on investment projects in Lusophone countries.
BOCM features in the latest edition of World Finance, available in print, on tablet and online now.
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SOURCE World News Media