How the former boss of Hong Kong stock exchange is helping Macau connect overseas investors to mainland China’s small businesses
- More than 4,000 small businesses listed daily revenue obligations (DROs) on a new securities exchange created by Micro Connect in Macau
- Micro Connect aims to bridge the gap between global investors and mainland China’s grass-roots economy while developing Macau’s financial sector
Zhou Yingqun, a 28-year-old Hunan native who has worked in the beauty salon industry for over a decade, never thought he would one day be ringing an IPO bell.
But when Mr Judy, the hair treatment company he works for as a regional manager, listed a brand new type of security in Macau earlier this year, the shy young man said he was over the moon.
“I was very, very excited. I just felt very honoured and excited to be able to participate in such a significant ceremony,” Zhou said.
Mr Judy recently became one of about 4,000 companies in the first batch to list a new financial product called daily revenue obligations (DROs) on the Micro Connect Macao Financial Assets Exchange (MCEX).
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Former HKEX chief unveils new foreign investment platform to finance Chinese small businesses
Launched in the former Portuguese colony at the end of March, MCEX is the first licensed global exchange for DROs, which can be traded by institutional investors whose funds go to small businesses – mainly shops and small retail outfits – in China in exchange for part of their daily revenue.
