Economy

Economic development & people’s livelihoods remain ‘main axis’ of governance: Chui

The local government will continue to regard developing the economy and improving people’s livelihoods as the “main axis” of its governance.

20 Sep, 2019

Government formally withdraws ‘sovereign wealth fund’ bill

The government formally withdrew its controversial bill which proposed the transfer of 60 billion patacas from the government’s financial reserves for the setting-up of the Macau Special Administrative Region Investment and Development Fund.

20 Sep, 2019

UM forecasts 0.8% GDP dip for this year, 0.9% drop for next year

Macau’s economy will shrink 0.8% this year and 0.9% next year.

19 Sep, 2019

Financial reserves reach 571.7 billion in June

Macau’s financial reserves increased by 2.4 billon patacas.

12 Sep, 2019

Lionel Leong warns economic headwinds to persist into Q3

Macau will continue to face economic headwinds into the third quarter, following dual revelations in past weeks that August gross gaming revenue dropped the fastest this year and that the city has officially entered recession.

10 Sep, 2019

Broad money supply continues to retreat

Monetary Authority of Macao released statistics on Wednesday that showed broad money supply continuing to fall in July.

5 Sep, 2019

Mobile phone imports fall 54% in July

Macau’s mobile phone imports fell 54.4% year-on-year.

4 Sep, 2019

Gaming revenue slips 8.6%

Gross gaming revenue slipped 8.6 per cent year-on-year in August to 24.26 billion patacas owing partly to a difficult comparison base for the month last year.

2 Sep, 2019

Grand Lisboa Palace to open in H2 of next year: So

Construction of Grand Lisboa Palace in Cotai would be completed by early next month.

29 Aug, 2019

Recession rears its ugly head again

Macau is in a technical recession after gross domestic product (GDP) fell by 1.8 per cent year-on-year in real terms in the second quarter and by 3.2 per cent in the first quarter.

26 Aug, 2019

Ho pledges to spend public money ‘wisely’

Ho Iat Seng's government will spend public money “wisely” with the aim of ensuring that public expenditure is always on the right track.

19 Aug, 2019

Economic situation next year won’t be bright: Ho

Ongoing Sino-US trade war, and the current situation in Hong Kong have deeply impacted Macau’s economy.

14 Aug, 2019

No need to be ‘overly pessimistic’ over yuan-US dollar exchange rate: Ip

Due to the impact of the Sino-US trade war, the yuan’s exchange rate would float in the short run.

9 Aug, 2019

Government drops bill on MOP 60 billion ‘sovereign wealth fund’

The controversial bill proposing the transfer of MOP 60 billion for setting-up MSAR Investment and Development Fund is to be withdrawn from Wednesday's plenary session agenda.

6 Aug, 2019

Regulator lowers discount window rate to 2.5%

Macau’s discount window base rate has been lowered by 25 basis points to 2.5%

2 Aug, 2019

Government proposes 60 billion pataca ‘sovereign wealth fund’

The government plans to set up the local version of a “sovereign wealth fund” with a proposed capital of 60 billion patacas.

29 Jul, 2019

Macau offers the Greater Bay Area its privileged relationship with Portuguese-speaking countries

The diversification of Macau’s economy centred on relations with Portuguese-speaking countries is essential if the territory is to find its place in the Greater Bay Area, said the chief executive of Banco Nacional Ultramarino (BNU).

8 Jul, 2019

China-Portuguese-Language Fund seeks projects in São Tomé and Príncipe

The China-Portuguese Cooperation and Development Fund is looking for projects in São Tomé and Príncipe, a country that reestablished diplomatic relations with China in December 2016, said the secretary general of Forum Macau. Xu Yingzhen said in an interview with Portuguese news agency Lusa that representatives of the Fund on 8 and 9 July will … Continue reading "China-Portuguese-Language Fund seeks projects in São Tomé and Príncipe"

1 Jul, 2019

China reduces application fees for SAR travel documents

Originally, the application fee for Chinese citizens for a Hong Kong or Macau travel document was RMB80. The new price will be set at RMB60.

27 Jun, 2019

Inflation slows to 2.69 pct in May

Macau’s composite consumer price index (CPI) rose 2.69 percent last month, slowing down by a 0.08 percentage point from the 2.77 growth recorded in April.

24 Jun, 2019