BEIJING, Dec. 20 (Xinhua) -- China's banking and insurance regulator Friday unveiled a raft of policies to increase financial cooperation between the Chinese mainland and Macao.

Macao banks are encouraged to set up branches in the mainland, and mainland insurance capital can invest in Macao, the China Banking and Insurance Regulatory Commission said in a statement.

Mainland financial lease firms will get support in expanding into Macao, the statement said.