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Even Xi can't turn Macao into an international finance center

Hong Kong's position will remain secure until the mainland itself fully opens up

| Hong Kong, Macao

Chinese President Xi Jinping has arrived in Macao in time for celebrations to mark the 20th anniversary of the city's return to the motherland's embrace.

As is customary among his compatriots, he is not coming empty-handed. But rather than bringing cash for the gambling tables, Xi is bringing goodies for his hosts said to include the formation of a yuan-denominated stock exchange and an offshore yuan settlement center and Macao's admission as a member of the Asian Infrastructure Investment Bank, China's homegrown development bank.

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