- date local legislations and international standards were issued. in the process, amcm solicited technical assistance from international organizations such as imf and apg. in 2001 and 2006, the msar government invited ogbs and apg to conduct joint appraisal on our aml / cft efforts. macao secured positive comments in these appraisals. simultaneously, suggestions for improvement were raised. these suggestions, particularly those related to financial field, have been adopted in a practicable manner. a sector wide blanket check on the aml / cft efforts of financial institutions was completed in 2006. all findings have been shared with financial institutions under inspection by means of reports, circulars and a seminar held in april 2007. the effort is still on going. all these arduous and assiduous regulatory efforts are conducive to maintaining a level platform to ensure fair play in the financial sector. apart from being a regulator, amcm is also vested with the responsibility of facilitating and nurturing the development of our financial industry. in this regard, amcm has been a driving force behind closer business relationship between banks of macao and the mainland to exploit new business opportunity arising from the continuing and accelerating economic integration between mainland and macao. in this connection, amcm has organized various meetings and visits to reinforce efforts from both sides with a view to promoting business opportunities for the financial industry. to make use of the special relationship between macao and the portuguese speaking countries, amcm organized in july this year delegation of our financial sector to visit these areas to explore fresh business opportunities. regulatory work is an ever deepening and evolving process which entails our relentless efforts. it is also a skill which needs honing through interaction. to achieve our mutual goal, members need to develop communication and co - operation. this is one of what the ogbs annual meeting is for. in the 2007 meeting, a wide range of topics will be covered. apart from techniques to be deployed in our supervisory work, such as aml / cft, principles based approach in supervision and governance, we shall discuss our future role in a number of areas with a view to perfecting our mission in upholding global financial integrity. in addition, we shall review the action plans of individual members, including that of macao, and accession of new members. last, but not least, related development under relevant international organizations, will be reviewed. i can envisage that this meeting in macao

anselmo teng : china and macao – continued financial industry growth address by mr anselmo teng, chairman of the monetary authority of macao, at a banquet hosted by the macao financial sector in commemoration of the 62nd anniversary of the people ’ s republic of china and the 12th anniversary of the establishment of the macao special administrative region, macao, 6 december 2011. * * * the honourable mr. chui sai on, chief executive of the msar, the honourable mr. ho hau wah, vice - chairman of the national committee of the chinese people ’ s political consultative conference, the honourable ms. gao yan, deputy director, liaison office of the central people ’ s government, the honourable mr. hu zhengue, special envoy, office of the commissioner of the ministry of foreign affairs, the honourable mr. ye yixin, chairman of the macao association of banks, honourable guests, dear friends of the financial sector, good evening! first of all, i would like to thank the standing committee for the invitation. with great pleasure and excitement, i participate in this party in commemorating the 62nd anniversary of the people ’ s republic of china and the 12th anniversary of the establishment of the macao special administrative region. the financial sector of macao has weathered the tests arising from international financial market crises since the return of macao to its motherland. although the challenges have been overcome thus far, upheavals are still prevailent in the international financial markets. there are uncertainties. it is worth our while to advise you, ladies and gentlemen that, according to relevant financial data, the macao financial sector has been maintaining its stability and viability. this is in fact the result of the coherent spirit of our practitioners when they work shoulder to shoulder in the endeavour of self - enhancement. as per the end of october, aggregate assets of the macao banking sector amounted to mop637. 7 billion, total deposits were valued at mop408. 1 billion, loans stood at mop313. 5 billion, both registered remarkable growth year - on - year. our practitioners have adopted a prudent attitude in business operation as usual ; capital adequacy ratio reached at 14. 3 % in the 3rd quarter while non - performing loan ratio was only 0. 34 %. in positive pursuit of developing more financial services by our practitioners, the banking sector was able to score an aggregate profit of mop4