Micro Connect Exchange

 set23 Bank of China Macau Branch has announced a loan project with Micro Connect Group that is worth some RMB210 million (MOP235.8 million/ US$29 million). In a recent announcement, the bank said that the offshore loan served to push for the internationalisation of the Chinese renminbi. The project also built on a strategic partnership between the two parties reached in December last year, under which both sides’ cooperation has extended to the group’s settlement system and payroll. It was said then that the partnership would integrate the strengths of the bank’s “traditional commercial banking offerings” and Micro Connect’s “innovative financing model” to provide a new financial ecosystem that would support the growth of small and micro-sized businesses in China. Micro Connect is an asset exchange that allows global investors to fund businesses high-flyers in China. According to the marketplace operator, it has collaborated with more than 170 brands and chains to invest in nearly 1,8

 sete23 Micro Connect Group has made its initial investment in Macau by providing funding to Hao Yue Catering Group Company, making it the first local business to secure their financial support. The investment was formalised through an agreement-signing ceremony held on Wednesday, specifically for the ‘Joy’ restaurant, which is owned by Hao Yue. Gary Zhang, founder and CEO of the group which operates the Micro Connect Macao Financial Assets Exchange, or simply known as MCEX, told media that the group’s entry into Macau signifies the “international feasibility and replicability” of their financing model – a revenue-sharing system that based on daily revenue obligations. “With our investment debut in Macau, we hope to improve the digitalisation level of Macau’s consumer industry, facilitating the deep integration of the digital and physical economy, and driving the digital revolution of the Macao economy,” Zhang said. In August, Micro Connect managed to raise  US$458 million (MOP3.69 bil