Micro Connect inks partnership with Bank of China Macau

 December 14, 2022

Micro Connect inks partnership with Bank of China Macau

By
 Nelson Moura

Micro Connect has signed a strategic partnership agreement with Bank of China Macau Branch (BOCM) to leverage the bank’s commercial banking offerings in support of its new SME exchange project in the SAR.

Earlier this week, the local government announced that the Micro Connect (Macau) Financial Assets Exchange had been given the greenlight to run an asset exchange marketplace where global investors can buy equity-like products to finance offline enterprises in China in exchange for a share of their daily revenue.

According to the announcement, BOCM will leverage its network across Macau and Mainland China and a full suite of banking services to better support Micro Connect’s mission to connect global capital with micro and small businesses in China.

In the statement, the Deputy General Manager of BOCM, Cai Chunyan, the micro and small business investment model of Micro Connect aligns with the bank’s efforts to “serve the real economy and support financial technology innovation” with many opportunities existing for collaboration.

Meanwhile, Micro Connect Founder and Chairman, Charles Li, indicated that BOCM’s cross-border financing capability and the broader Bank of China nationwide network would help the company better serve micro and small businesses in China.

“We look forward to the many collaborative initiatives with BOCM covering our various business lines across Hong Kong, Macau and Mainland China,” Li noted.

Micro Connect states to have collaborated with more than 170 brands and chains to invest in nearly 1,800 stores in retail, food & beverage, services, and culture & sports across more than 140 cities in 31 Chinese provinces/municipalities as of November 30, 2022, while planning to expand its investment footprint to cover 15,000 stores by the end of 2023.

https://www.macaubusiness.com/micro-connect-inks-partnership-with-bank-of-china-macau/

Comments

Post a Comment

Popular posts from this blog

REGRAS

Image
 (tradução do chinês) Li Xiaojia’s Drip Connect ASX, announced the rules of the exchange yesterday, and can apply for chain brand stores with 10 stores or annual revenue exceeding 5 million Li Xiaojia’s Drip Connect ASX, announced the rules of the exchange yesterday, and can apply for chain brand stores with 10 stores or annual revenue exceeding 5 million Sina Finance APP shrink font enlarge font collect Weibo WeChat share 　　Source: Ryan Capital 　　 Micro Connect Macao  Financial Assets Exchange   (  MCEX  or  MCEX for short  )  was officially put into trial operation in Macau on March 25. 　　 'Diguantong ASX'  officially released  the exchange rules of Diguantong (Macau) Financial Assets Exchange Co., Ltd.  yesterday  (  April  18)  .  Exchange  ("Drip ASX")  Rules  (Trial Implementation  )  is less than a month away. 　　 DRO   (Daily Revenue Obligation)  refers to ...
Read more

Micro Connect announces accounting rules modelled on GAAP

Image
 jan24 Micro Connect has unveiled another major component of its pet project designed to raise global capital for small and medium-sized businesses in mainland China. Under the initial arrangements made for the Micro Connect Macao Financial Assets Exchange, the MCEX Market Accepted Protocol (MAP), as announced at a press conference on Tuesday, is devised to correspond to the Daily Revenue Contract (DRC) or Daily Revenue Obligation (DRO). According to the company, a daily refreshable and publishable MAP, similar to the set of rules widely known as generally accepted accounting principles, provides a comprehensive overview of key static information linked to a DRC. The information includes details such as the contract’s geographical region, industry classification, listing date, anticipated collection amount, and contract duration. In addition, the MAP also serves as a standardised communication framework for data preparation and disclosure, regardless of the business’s geographic lo...
Read more

Financiamento

6/2/24 Micro Connect has announced that it has received support from HSBC Holdings for a loan facility worth US$200 million (MOP1.6 billion). In an announcement made on Monday, the company stated that HSBC would initially provide US$50 million in credit under the asset-backed loan facility. This is not the first time HSBC has provided financial support for Micro Connect, which operates a marketplace to raise global capital for small and medium-sized businesses in mainland China. In December 2022, HSBC arranged a loan of up to US$25 million for Micro Connect, becoming the first bank to do so. Charles Li, the founder of Micro Connect, expressed delight in continuing the collaboration with HSBC as a long-term financing partner. “This new facility is crucial for expanding our business model in China and beyond, as well as helping us transform into a fully disinterested operator of MCEX.” https://www.macaubusiness.com/micro-connect-secures-us200-mln-loan-facility-from-hsbc/ 8/8/23 Financia...
Read more