News

From Companies to Contracts

Securitising the real economy’s contracts, the AI way: HAT over MASS.

Micro Connect New Markets (NUMA) White Paper October 3, 2026 Edition

HAT over MASS Micro Agents · Simple & Short tasks

HAT over MASS

How 5,000 AI Employees Are Beginning to Help Us Trust the Machines

A Compass for Contract Cash Flows

NUMA market update · 3 September 2026

China Daily | New contract-based asset class launched

Macao Daily | Micro Connect Celebrated Fifth Anniversary, Released the NUMA

Founder's blog - The Founder's Case for NUMA

NUMA Protocol launch · 3 August 2026

Micro Connect Releases the White Paper on NUMA Protocol, To Unveiling Contract-Based Financing (CBF)

HKET | [Charles Li's Startup Journey] Micro Connect Launches “NUMA” to Build a New Market, Reflecting on Five Years of Challenges and Lessons Learned

SCMP | Hong Kong must embrace ‘bipolar’ role to thrive in ‘Stage 3.0’

Riverchain Partners with Micro Connect to Scale Working Capital for Construction Contractors

Cailian Press｜China’s Bond Market Has Huge Potential; AI May Empower “Cashflow Rights” to Unlock Stable Alpha in the Trillion-RMB Micro and Small Business Economy

Caixin｜RWA: Tokenization Does Not Reduce the Risks of Real-World Underlying Assets

Sina Finance｜Exclusive: Charles Li Says Full Sovereign Adoption of Virtual Currencies Is “Drinking Poison to Quench Thirst,” While Follow-the-Crowd Investors Need Stronger Regulatory Protection

Economic Observer｜“Mr. Connect” Charles Li: From Stock Connect to Micro Connect, Our Quarter-Century Journey

Letter to Shareholders

Sina Finance｜China’s Investment Opportunities Amid the Reshaping of the Global Financial Landscape

From “Making Small Money” to “Earning Hard Money Through Technology”: China’s Economy Is Shifting Gears and Moving Up

China Daily | Former HKEX CEO Li: China must journey from easy to hard money

GuanDian| Face-to-Face with Charles Li: Micro Connect Investment Economics - Boao · The Power of Integration

Rongzhong Finance｜A Conversation with Charles Li: From the Bronze Bull to the Little Sapling

Founder’s Blog – June 19, 2025

Bloomberg｜How Big Ideas Fuel Financial Innovation in Macao

Gary Zhang: Believing in the Power of Flexibility

Jiemian News｜Micro Connect MEX Launches an Integrated Market System as Macau Explores a New Model of Distinctive Finance

People’s Daily Online | Micro Connect MCEX Launches the Integrated Market System “Micro Star”

Blog on Micro Star System

Micro Connect (Macao) Financial Assets Exchange (MCEX) Launches the Micro Star System

Securities Times｜Focused on Building an Exchange Platform, Micro Connect MEX Launches the Integrated Market System “Micro Star”

MOODY’S Ratings | Second Party Opinion – Social Finance Framework Assigned SQS3 Sustainability Quality Score

Corporate Treasurer | Micro Connect signs partnership with Choco Up, pushing RBF in Asia

Official Gazette of the Macao Special Administrative Region: Addition of Micro Connect Macao Financial Assets Exchange as a Key Infrastructure Operator

Micro Connect Announces Strategic Partnership with Choco Up

SCMP | Charles Li’s Micro Connect pushes unique financing model in Southeast Asia

Macau Business | Super Connector

HKEJ｜Wang Ganwen: Mainland private equity lacks patience and shortens investment periods, making it hard for projects to really mature. Micro Connect can provide money in a 'slice-by-slice' way.

Financial Times News Briefing | Wall Street Fell Out of Love with Equity Hedge Funds Transcript

EDigest | The '2023 Deloitte Hong Kong High-Tech High-Growth and Rising Stars' List Revealed

Eastern China Food & Beverage Brand DROs Complete Fully Subscribed Initial Offerings

Sichuan Trendy Consumer Brand DROs Complete Fully Subscribed Initial Offerings

Micro Connect and HSBC Sign up to US$200 Million Asset-backed Loan Facility Enabling More Innovative Finance to Support Growth of Micro and Small Businesses in China

Financial Times | The financier turning China’s noodle joints and karaoke bars into a data gold mine

SCMP | Micro Connect unveils new market standard for financing China’s micro and small businesses

HKEJ | Micro Connect sets universal standards to help with investment and financing, releasing two indicators for investors to understand risk and return

Gary Zhang: Believing in the Power of the Market, Focused on Exchange Operations

HKET｜Micro Connect releases market-wide standard MAP

Blog on MCEX Market Accepted Protocol (MAP)

Micro Connect Releases MAP to Unveil a New Market Standard for Micro and Small Business Finance

The South China Morning Post｜Micro Connect: Bringing in international capital to 'nourish' China's small and micro enterprises

CSPI Ratings Assigned A(sf) Ratings to Micro Connect’s DRO-backed Senior Loans

Deal Street Asia | Rise of Micro Connect sparks debate on revenue based financing model in China

21st Century Business Herald | Charles Li: The daily toll mechanism of Micro Connect can boost the return rate by about 67%

21 Economy Network | Bay Area Finance Experts Talk | Chat with Charles Li, Founder of Micro Connect: Small and micro businesses are 'neither foolish nor bad,' traditional financiers need to humble themselves

Southern Weekly | Exclusive Interview with Charles Li Founder of Micro Connect is the Cornerstone of Hong Kong’s Capital Market Success

Recap of Micro Connect’s Online Media Briefing

Macao Daily｜Micro Connect Macao Financial Assets Exchange product gets Islamic law certification

Caixin｜Micro Connect Gets Certification, Can Tap Into the Islamic Finance Market

Ming Pao | Micro Connect Macao Financial Assets Exchange get Islamic law certification, helping expand membership numbers

MCEX Certified to Offer Shariah Compliant Products, Catering to Islamic Investors Looking to Invest Directly in China’s Vibrant Consumer Economy

Business Weekly | Getting landlords to help source businesses for investments: Breaking down the Wall Street model behind small street shops

Business Weekly | Bringing international investment to tens of thousands of small street shops — finance enters its Taobao era

Tencent Finance | Exclusive Chat with Charles Li: Some people question whether Micro Connect is a good thing, but our fund flow is clear and transparent

Micro Connect attended the 4th Qingdao Summit for multinational company leaders

Business Times Journal | CE: promote the deep integration of the digital economy and the real economy, contribute to the high-quality development of the ‘Belt and Road’ initiative

Government Information Bureau | Chief Executive Ho Iat Seng: Promoting the integration of the digital economy with the real economy, contributing more of Macau's strength to the high-quality development of the Belt and Road

Micro Connect Group Signs Strategic Partnership with CCX Green Finance International

Today's Headlines | Li Hui from Micro Connect: Firmly optimistic about the growth of chain restaurants, China is likely to see the rise of super brands

Liu Run | What did Micro Connect do behind investing in 9,600 stores over 2 years?

The Economist | Macau offers a new way to get rich

CNA | Ex-Hong Kong stock exchange boss raises US$500 million for investment platform

Bank of China Macau and Micro Connect Complete the World’s First RMB 210 Million DRO Collateralized Loan

First in Macao: Micro Connect signs investment agreement with “Joy” restaurant

Bloomberg | Micro Connect’s Li on Investment Sentiment in China

Forbes | Billionaire-Backed Fintech Becomes Hong Kong’s Latest Unicorn With $458 Million Round, Baillie Gifford Joins As A New Investor

Gary Zhang: Let the World See the Power of Micro and Small Businesses

Economic Observer | Charles Li 's Micro Connect Macao Financial Assets Exchange Officially Starts Operating: Aiming to Build a Super 'Circle of Friends' to Connect International Capital with Small and Micro Enterprises

HK01 | Charles Li: Hopes Micro Connect Macao Financial Assets Exchange's financing volume can surpass HKEX in five years

Macao Daily｜Micro Connects to the Macau Exchange for the Small and Micro Ecosystem Conference

People's Daily Online | Micro Connect Macao Financial Assets Exchange Officially Starts Operating, First Small and Micro Business Ecosystem Conference Held

CCTV｜Micro Connect Macao Financial Assets Exchange is officially operational

HKET | Charles Li: Hopes Micro Connect Macao Financial Assets Exchange's financing volume can surpass HKEX in five years

Founders’ Blog – Charles on Micro Connect

The First Micro and Small Businesses Ecosystem Conference and Official Launch of MCEX Held in Macao

CNBC | Micro Connect founder discusses how China’s micro businesses are faring

Ming Pao | Micro Connect Completes Series C Funding, Valued at 13.3 Billion, Becomes a Unicorn

TDM Macao Broadcasting Co., Ltd.｜Micro Connect Macao Financial Assets Exchange, linking 9,000 companies with a total investment exceeding 1.6 billion yuan

HKEJ | Micro Connect completes Series C funding, valued at 13.3 billion and becomes a unicorn

Xinhua News｜Micro Connect Macao Financial Assets Exchange starts Operating

Ming Pao | Charles Li:Micro Connect Macao Financial Assets Exchange will drive the 'fourth leap' and guide global funds toward small and micro enterprises

Micro Connect Completes US$458M Series C Funding

Reuters | Hong Kong-based microfinance platform Micro Connect raises $458 mln from investors -statement

HK01 | Micro Connect Completes Series C Financing, Reaches a RMB 13.3 Billion Valuation and Unicorn Status

Xinhua News| Micro Connect completes $458 million Series C equity financing

36Kr | Micro Connect completes $458 million Series C funding

Bloomberg | Charles Li’s Micro Connect Raises $458 Million in New Funding / Venture of Ex-HKEX Boss Tops $1 Billion Valuation in New Round

SCMP | Former HKEX CEO Charles Li Xiaojia’s firm Micro Connect launches fundraising platform for small Chinese businesses

China Securities Journal | Micro Connect completes $458 million Series C equity financing

Securities Times | Micro Connect completes $458 million Series C equity financing

Micro Connect signs US$15 million credit facility with Hang Seng Bank to support growth of micro and small businesses in China

MCEX Completes Its First Secondary Market Block Trade of a DRO Asset Package

Finance World | 'Micro Connect Partners with Hangzhou to Establish Micro Connect Macau Financial Asset Exchange Zhejiang Center'

HKUST | Charles Li was invited to Web3 Public Forum

21st Century Business Herald | Exclusive Interview with Gary Zhang from Micro Connect: Micro Connect Macao Financial Assets Exchange kicks off trial operations, over 2,800 small and micro stores listed for trading

FINTECH Hong Kong | Micro Connect is listed in one of the 6 young and fast-growing fintech start-ups

Jiemian| 'Financial Big Shots Like Tu Guangshao and Charles Li Talk ESG Investing: Investment Targets Have Big Granularity, Poor Disclosure Quality, and Inconsistent Rating Standards'

China News | 'Zhejiang and Hong Kong Professionals Together Contribute Intelligence to High-Quality Economic Development'

Ifeng Finance | 'Charles Li: The Real Economy Is the Muscle Growing on the Bones'

SHENZHENDAILY｜Shenzhen Bank of Communications launches an enterprise-level payment and settlement platform

SCMP｜How the former boss of Hong Kong stock exchange is helping Macau connect overseas investors to mainland China’s small businesses

Ifeng | Junpin Talk - Charles Li

Junpin Talk | Charles Li : Everything Happens for the Best Reason

CBLJ | Micro Connect Legal and Compliance Team has been highly commended at In-house Counsel Awards 2023

DuJiao MALL | Micro Connect China CEO Li Hui

CGTN | Digital Economy Conducive to Creating New Financing Models

Wen Wei Po | Paul CHAN Mo-po: The Foreign Exchange Fund Continues to Increase ESG Investments

Macao Daily | Micro Connect’s Gary Zhang: Using the Deep Cooperation Zone as a 'Converter Plug' to Connect Domestic and Overseas Investment

Bloomberg | Micro Connect CEO on Navigating Common Prosperity

HK 01 | Charles Li: Micro Connect has invested in about 4,000 small and micro enterprises; US and European bank crises are historically rare

STV News Report | Boosting Sichuan North Road! CanCham and Micro Connect Sign Strategic Cooperation Agreement

Gary Zhang: Let’s Remember This Moment Together

Micro Connect Launches Financial Assets Exchange in Macao

21st Century Business Herald | Charlies Li told SFC: Micro Connect focuses on a long-term investment philosophy, spreading out investments across regions and industries to reduce risk

Bloomberg | Micro Connect Launches Macau Exchange

Ming Pao | Exchange set up in Macau, Charles Li: Hong Kong laws aren't compatible with gradual financing channels, hoping to invest in 100,000 stores next year

JieMian | Charles Li's Micro Connect Macao Financial Assets Exchange kicks off trial operations, set to launch the world's first revenue-sharing products

Forbes | Exclusive: Hong Kong Billionaire-Backed Fintech Unveils Exchange Platform For ‘The Little Guy’

Ta Kung Pao | Micro Connect Macao Financial Assets Exchange, Trial Operation on Saturday

Finance Asia | Exclusive interview with Micro Connect founder and chair, Charles Li

EDigest | Charles Li: Wearing Thick Glasses to Look at China's Hong Kong Might Make You Feel Desperate

CNBC | The ‘best times’ for China’s economy are still a long way ahead, says financial market platform

Micro Connect and HSBC sign US$25 million asset-backed loan facility to support the growth of micro and small businesses in China

Micro Connect to Form Strategic Partnership with Bank of China Macau Branch

Micro Connect Receives Approval to Establish Micro Connect (Macao) Financial Assets Exchange in Macao SAR

AVCJ I Profile: Charles Li

Gary Zhang: 365 Days, from 0 to 1,000

Micro Connect Presents the 1000 Stores & the Micro Connect White Paper Event

CNBC | Some small businesses in China are eyeing expansion despite slowdown: Charles Li

SCMP | Small Chinese firms turn to former HKEX CEO Charles Li’s revenue-sharing fintech platform for funding

GuanDian | Charles Li Face to Face with Viewpoint: Micro Connect Wants to Be a 'Disruptor'

Securities Times | After one year of starting up, Charles Li has invested in 1,000 small shops!

HK01 | Reaches investment in over a thousand mainland shops ahead of schedule, Charles Li's Micro Connect targets four major industries

36Kr | Charles Li: As long as you need money to open a store, Micro Connect is the 'best kind of money'

Micro Connect won the Securities Times '2022 Emerging Company of the Year'

Charles Li : Keep moving forward by 'asking questions'

Charles Li : Finance ultimately needs to serve the real economy. Getting into the grassroots of China's real economy, 150 million small shops are the big trend.

Micro Connect During Covid: Supporting Our Partners Through the Tough Times

Our blogs are online! Sharing five practical tips

Gary Zhang: From Hunting to Farming: How Investing Is Changing in the Digital Age

21st Century Business Herald | Micro Connect Financing Raises $120 Million, Model Now Streamlined, Plans to Invest in Over a Thousand Small Micro Stores by Year-End

China Securities Journal | Gary Zhang: Creating a Third Type of Innovative Corporate Financing Method

Jiemian | How has Micro Connect been doing in its first year, building a micro-million ecosystem for alternative investments?

National Business Daily | Li Hui: Small and micro stores are an untapped investment blue ocean for global capital | Li Hui: Small and micro stores are an untapped investment blue ocean for global capital

36Kr | Precisely 'drip-irrigating' to open up financing channels for small and micro enterprises, Micro Connect secures $70 million in Series B funding

Micro Connect Raises US$70M Series B Funding as New Market Infrastructure Platform Completes First 100 Investments in Micro and Small Businesses in China

Bloomberg | Charles Li’s Venture Raised $70 Million from H.K. Tycoons

SCMP | Micro Connect, former HKEX CEO Charles Li’s investment platform, raises US$70 million in new funding

HKET｜Micro Connect Invests in Mainland Small Businesses, Targets 1,000 by Next Year

HK01｜Gary Zhang: Hoping Micro Connect Can Help 100 Million People Embark on the Path to Common Prosperity Over the Next Decade

HK01｜Charles Li Channels Foreign Capital into Mainland China’s Small Businesses as Micro Connect’s Vision Resonates with Common Prosperity

HK01｜Former Provincial Governor’s Secretary Turns to Finance, Joins Charles Li in Building Micro Connect; Gary Zhang: Do Meaningful Work

The Business Times | Super connector: Charles Li, ex-CEO of HKEX

China News | Former HKEx CEO Charles Li and his small business trading 'New Market'

SCMP | Former HKEX boss’s new platform aims to finance 10,000 small Chinese firms

Bloomberg | Former HKEX CEO Starts Venture to Invest in China’s Small Firms

CNBC | Former Hong Kong exchange CEO Charles Li talks about his new venture

Yicai｜Charles Li’s New Move After Leaving HKEX: Launching a Platform to Bridge International Capital and China’s Small Businesses

Securities Times｜Charles Li: Tackling the Three Major Hurdles in Investment and Financing for Small and Micro Businesses

Micro Connect Announces Launch of a New Platform to Invest in Small Businesses in China

Jiemian｜Former HKEX CEO Charles Li’s New Venture Revealed: Building the “Micro Connect” System to Serve China’s Small Businesses

Caixin | Micro Connect completes investment in a thousand stores. What’s Charles Li’s next move?

Micro Connect was recognized as one of Fortune China's most socially influential startups