In tandem with the increasing integration of Macao with the Mainland, RMB notes are broadly accepted and circulated in Macao. RMB business has become an important driving force behind business diversification of Macao financial institutions and the healthy progress of the sector as a whole.
The proceeds of the securities are locked away in a blocked account at the Central Bank and only re-enter the financial system upon maturity of the existing securities. I must emphasise that these funds are not used to finance the Government’s budget or any Government programme.