The Macao Special Administrative Region government on Wednesday launched Macao Investment Management Limited, a public capital enterprise designed to anchor its new government-guided fund system.
To proactively align with the national 15th Five-Year Plan, the Macao government has established a government-guided fund to promote moderate diversification of Macao’s economy and to foster emerging industries in the long term. The newly founded company will serve as the management entity for the government-guided fund. It will oversee the fund's daily operations, financial management, and execution of investment decisions.
The Macao government emphasized that the company will operate on principles of long-termism and patient capital, following a model of government guidance coupled with market-driven execution. Its mission is to channel investment into strategic emerging sectors that fit Macao's industrial policies, fostering both industrial upgrading and closer synergy between Macao and the neighboring Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Zhuhai, southern Guangdong Province.
Authorities also announced plans to convene a guided fund advisory committee, drawing on government officials, professionals, academics, and industry representatives to offer advice on the fund's policy orientation, strategic roadmap, and other major decisions.
Macao sets up public capital enterprise for government-guided fund management
China's summer grain procurement season is set to begin later this month, with the expectation of buying about 100 million tons of wheat during the peak period, roughly the same amount as last year, a national food reserves official said on Thursday.
Summer crops account for more than 20 percent of the country's annual grain output, over 90 percent of which is winter wheat. The peak purchasing season runs from late May to the end of September. This year, the summer grain harvest is expected to start about one week later than usual, with early batches already hitting the market in Hubei and Sichuan provinces.
"Preliminary analysis suggests that wheat purchases during the peak season will reach around 100 million tons, which is about 70 percent of total [wheat] output, basically unchanged from last year," said Luo Shouquan, director of the Food Reserves Department at the National Food and Strategic Reserves Administration.
Luo said authorities will step up market analysis and forecasting, and adjust policies as needed. He stressed efforts to facilitate market-oriented purchases, encouraging various buyers to enter the market, and calling on leading state-owned enterprises to take the lead in procurement to boost market confidence.
"A total of 110 million tons of storage capacity has been prepared across the country by far, enough to meet farmers' needs. We will strengthen market monitoring, activate the minimum purchase price mechanism in eligible regions in a timely manner, and coordinate both offline and online channels to ensure orderly purchases and keep the grain market stable," said the official.
China expects some 100 mln tons of wheat in summer procurement
