Han Kun advises on the launch of Micro Connect Macao Financial Assets Exchange
March, 2023 - Beijing, Mainland China
In the morning of March 25, 2023, the Micro Connect Macao Financial Assets Exchange ("MCEX") was officially launched at a "Prelude" ceremony to initiate trial operation of the exchange. The Chief Executive of the Macao Special Administrative Region (Macao SAR), Mr. Ho Iat Seng, was present at the "Prelude" ceremony, where Mr. Charles Li, Micro Connect Founder and Chairman, and Mr. Lei Wai Nong, the Secretary for Economy and Finance of the Macao SAR, struck the ceremonial gong to mark the official launch of MCEX. MCEX is the first licensed global exchange for Daily Revenue Obligations (DROs), a new asset class that connects institutional capital around the world with China's micro and small businesses. On the same day of MCEX's launch, the first batch of DROs were listed on the exchange for public trading.
"The establishment of MCEX means that financing via financial exchanges is no longer exclusive to a small number of large corporates, but now a convenient choice for millions of micro and small businesses. This will make Macao an important channel for these entities to have direct exposure to global capital, which will in turn introduce diversity into Macao's economic development," said Mr. Charles Li, Micro Connect Founder and Chairman.
As Micro Connect's perennial legal counsel, Han Kun has provided comprehensive legal services to facilitate the company's business development in all respects, including advising on the landmark signing of its first cross-border asset-backed loan facility with HSBC. This time, Han Kun was again deeply engaged in MCEX's launching process, providing legal services through all stages, from deal structure design, compliance analysis, drafting of transaction documents and the final implementation of the project, registering another milestone for the firm's digital finance practice.
About Micro Connect
Micro Connect is a new financial market platform connecting global capital with China's micro and small businesses. The Company has created Daily Revenue Obligations (DROs) as a new asset class for direct and diversified exposure to the daily and transparent cash flows of millions of stores in China's vibrant consumer economy, while making capital more accessible and affordable to business owners. Investment returns are collected securely via the Automated Repayment Mechanism, a digital infrastructure network Micro Connect operates in partnerships with brands / franchises, financial institutions, and SaaS companies nationwide. To date, the platform has provided funding to more than 2,800 stores with over 200 brands nationwide. With a licensed exchange platform, a fund platform, and structured product solutions, Micro Connect offers efficiency and liquidity in small business investing for global professional investors and offers a new alternative to impact investing.
Micro Connect Macao Financial Assets Exchange (MCEX)
Micro Connect Macao Financial Assets Exchange Co., Ltd., MCEX, set up according to an Executive Order announced by the Chief Executive of the Macao SAR on December 5, 2022, is the first licensed global exchange for Daily Revenue Obligations (DROs). MCEX provides an innovative investment and fin-tech platform connecting choice global capital with China's micro and small businesses.
