In Oct 2016, the 2016 “Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries” (the “Forum”) was successfully conducted in Macau. The Forum was initiated by the Chinese Central Government, sponsored by the Ministry of Commerce of China, hosted by the Government of the Macau Special Administrative Region (Macau SAR) and with the joint participation of seven Portuguese-speaking countries including Angola, Brazil, Cape Verde, East Timor, Guinea Bissau, Mozambique and Portugal. National dignitaries including Chinese Premier Mr. Li Keqiang and Portuguese Prime Minister Mr. Antonio Costa attended the conference. Mr. Raymond Yung, Chief Executive Officer of L.R. Capital group was invited to attend the Forum and met with various politicians and business leaders including Mr. Antonio Costa, Prime Minister of Portugal and Mr. Edmund Ho Hau-wah, Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) and former Chief Executive of the Macau SAR.
The Forum also featured with the launch of the “StartUP Macau Forum”, aiming to connect startups with institutional investors, and serves as a platform for sharing experience, fostering new ideas, and facilitating collaboration opportunities. The Forum was organized by the Macau China Thinktank for Fintech Industries, hosted by Fabrica de Startups, CESL Asia and Tsinghua University, and in collaboration with the Government of Portugal, the Macau SAR Government, Aicep Portugal Global-Trade & Investment Agency, the Consulate General of Portugal in Hong Kong and Macau, as well as the China Association for Science and Technology.
Various guests attended the Forum, including: Mr. Antonio Costa, Prime Minister of Portugal; Mr. Edmund Ho Hau-wah, Vice Chairman of CPPCC, former Chief Executive of Macau SAR; Mr. Jorge Costa Oliveira, the Secretary of State of Internationalization of Portugal; Mr. João Vasconcelos, the Secretary of State of Industry of Portugal; Mr. Lionel Leong Vai Tac, the Secretary for Economy and Finance of the Macau SAR; Mr. Jorge Torres Pereira, the Portuguese Ambassador to China; Dr. Eric T.M. Yeung, Standing Committee Member of CPPCC, Chairman of the Macau China Thinktank for Fintech Industries; Mr. Antonio Trindade, President and Chief Executive Officer of CESL Asia; and Mr. Sio Chi Wai, Member of Legislative Assembly of Macau.
The StartUP Macau Forum comprised a showcase competition and a roundtable discussion session. A total of 20 startup teams from China, Macau and other Portuguese-speaking countries participated in the competition to pitch business proposals to an expert jury and quality audience.
Mr. Raymond Yung said, “The StartUP Macau Forum has provided excellent opportunities for young entrepreneurs from China, Hong Kong and Macau to exchange new ideas and seek further business collaborations. As a global multi-family office with a network spanning across Asia, Europe and North America, L.R. Capital is devoted to acting as a linkage for capital and resources by connecting China and the international capital markets, with technology investment as one of the major focuses. L.R. Capital is keen to invest in FinTech and sectors benefitted from the ongoing digital transformation of strategic industries.”
L.R. Capital emphasizes the importance of industrial innovation, and has increased its investment in sectors related to the “New Economy” in recent years. Some of these investments include Dianrong.com, a major Fintech player in China; Youche.com, a major online-to-offline trading platform for used vehicles in China, as well as Credible.com, a leading internet financing company in the US.