Macau is hosting a record amount of bond listings as the world’s top gambling hub boosts efforts to diversify its economy and establish itself as an alternative financing hub for Chinese firms.
A combined $28.1 billion of bonds have started trading this year on the Chongwa (Macao) Financial Asset Exchange Co., a local exchange known as MOX, according to Bloomberg-compiled data. Around 63% of these new notes are yuan-denominated and mostly issued by Chinese local government financing vehicles, or LGFVs.