Economy

Macau-issued credit cards rise 9.4% to 1.4 million in Q3

The total number of personal credit cards issued by banks in Macau rose by 9.4% year-on-year in the third quarter.

11 Nov, 2019

Zhuhai opens training center for Macao-bound workers

A new training centre for mainland workers who will work in Macao officially opened its doors after a grand ceremony at Zhuhai Technician College in the Zhuhai special economic zone of Guangdong province.

5 Nov, 2019

Gross gaming revenue plunges 3.2% despite recording strongest month

Macau’s gross gaming revenue recorded a 3.2% year-on-year decrease in October to MOP26.43 billion, recording its highest level in 12 months.

4 Nov, 2019

AL Committee raises questions on MOP Chinese name in BOC notes

A Chinese character on banknotes issued by the Bank of China, Macau Branch has raised concerns about the notes being printed differently from that outlined in the Basic Law.

1 Nov, 2019

Macau cuts benchmark interest rate for third time this year

The Monetary Authority of Macao has cut its benchmark interest rate by 25 basis points, following an identical decision six weeks ago.

1 Nov, 2019

MSAR anniversary notes show Macau’s success relies on mainland’s support: Leong

The new banknotes issued to commemorate the 20th anniversary of Macau’s return to the motherland show that the past two decades of Macau's progress have relied on the mainland’s support.

23 Oct, 2019

Lawmakers to keep an eye on securities market project

Legislative Assembly’s Follow-up Committee for Public Finance Affairs, will keep a close eye on the possible setting-up of a securities market in Macau.

22 Oct, 2019

Regulator says securities market ‘still under study’

Possible establishment of a yuan-denominated securities market in Macau “is still under study.”

14 Oct, 2019

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