Micro Connect Exchange

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  Micro Connect founder Gary Zhang has highlighted the importance of domestic consumption as a driver of economic growth at a recent conference. According to People’s Daily, Zhang told the conference on national consumption that “finance is the lifeblood of economic development.” Micro Connect, an asset exchange designed to pool funding for small businesses and start-ups, unveiled their operational workings in September this year. The  Micro Star , alongside a framework of rules and guidelines, was described as the backbone of a revenue-based system that has so far covered 13,000 businesses across 200 mainland Chinese cities. “Innovation in income-based financing models is driven by widespread digitalisation trends, empowering more small and medium-sized enterprises to achieve high-quality development,” he added on Monday. A company’s income, credit status, and technological level are closely associated with its level of digitalisation, he emphasised. “Without digitalisation, ...

 set24 Micro Connect has announced an operating structure for its financial asset exchange that currently involves over 13,000 micro businesses across 200 mainland Chinese cities in retail, food and beverages, sports, culture and services. The Micro Star, according to an update on Thursday, is the backbone of what the operator describes as a revenue based financing (RBF) exchange, one that is modeled after the traditional equity market. However, as founder and chairman Charles Li Xiaojia pointed out at a media Q&A session on Thursday, the exchange, also known as MCEX, relies on digitally-enabled vehicles, making the marketplace more “lighter touch” and “cost-effective”. As of the end of last year, Micro Connect investors splashed out RMB4.4 billion (US$630 million) in investment, with over RMB2 billion in returns netted. It is expected to take “two to three years” to recover the remainder of the funding. https://www.macaubusiness.com/micro-connect-micro-star-unveiled-as-operati...

 set24 Numa conferência de imprensa para o lançamento de uma nova estrutura operacional de mercado da companhia baseada em Macau, Li enfatizou a importância de aproveitar as novas tecnologias para melhorar o sistema financeiro, reconhecendo que o uso de  moeda digitais centralizadas  em Macau ou Hong Kong é uma questão multifacetada, que impacta não apenas as políticas monetárias estatais, mas também levanta preocupações sobre lavagem de dinheiro e outros riscos. “A moeda é uma questão bastante complexa,” afirmou, sublinhando a necessidade de uma abordagem abrangente para navegar eficazmente por estes desafios. O objetivo, segundo Li, é criar um sistema que permita a uma ampla comunidade participar em atividades económicas de forma transparente e autónoma. Ele imagina um panorama financeiro onde o fluxo de caixa é amplamente distribuído, tornando-o acessível a quase todos os envolvidos no sistema. “Com o tempo, aspiramos a transitar tudo para uma blockchain,” explicou Li,...

 sete24 Micro Connect Macao Financial Assets Exchange is launching two initiatives to ease investments in small and micro businesses. The investment platform co-founded by the former boss of Hong Kong Exchanges and Clearing (0388) Charles Li Xiaojia will simplify investment targets and also enable 'one-to-one' transactions that allow investors to invest in corporations for a certain period of time. As of the end of August, more than 12,000 micro and small businesses have raised capital by listing their daily revenue obligations or DROs on MCEX, according to data on MCEX's website. DROs are "non-equity, non-debt" instruments tradable on MCEX. The listed stores are located in 282 cities across 32 provinces in China, affiliated with 835 brands and platforms. https://www.thestandard.com.hk/section-news/section/7/265817/Micro-Connect-eases-investor-access

 May24 Micro Connect, a Macau-based financial market platform, is planning to dismiss or reassign a quarter of its employees, following the recent announcement of what some described as a “leading sheep” programme. On 22 May, Micro Connect’s co-founders Charles Li and Zhang Gaobo announced the layoff of over 100 employees in an internal letter, citing reasons such as a transition to a new development strategy, the need for operating cost control, and management missteps . A spokesperson for Micro Connect told Macau News Agency (MNA) on Thursday that the decision was not related to the ‘company’s operational or financial conditions’ but rather stems from a ‘business transformation and structural change’. “ Our business model is transforming so we have to make this difficult decision,” the spokesperson empathised in a phone call. In the letter, the co-founders explained that the company is currently fully focused on developing the financial market platform, Micro Connect Macao Financ...