Economy

Macau's 2016 GDP

Macau’s 2016 GDP falls 2.1 percent, compared to 2015 21.5 percent drop

Macau’s gross domestic product (GDP) shrank by 2.1 percent year on year in real terms last year, an improvement from the 21.5 percent drop in 2015, the Statistics and Census Bureau (DSEC) said on Thursday.

24 Feb, 2017

Macau's GDP

Macau’s GDP grew 7 percent in 4Q of 2016

Macau's economy grew 7 percent in the fourth quarter of last year, followed by a 4 percent rise in the previous homologous period, the Secretary for Economy and Finance, Lionel Leong, announced on Wednesday.

23 Feb, 2017

Macau's inflation

Macau’s inflation increases in January

Macau's composite consumer price index (CPI) in January rose 1.76 percent year on year, up 0.32 percentage points from the 1.44 percent growth in the previous month, the Statistics and Census Bureau (DSEC) announced on Tuesday.

22 Feb, 2017

Macau taxi fare

Taxi groups call for taxi fare hike

Representatives of several taxi groups submitted a joint application for an increase in taxi fare to the Transport Bureau (DSAT) on Monday. The cabbies insisted that the increase was needed to keep pace with the sector’s rising running costs.

21 Feb, 2017

2017 GDP growth

IMF raises Macau’s 2017 GDP growth forecast to 2.8 percent

The International Monetary Fund (IMF) has revised its forecast on Macau's 2017 GDP growth rate for this year to 2.8 percent from its previous forecast of 0.2 percent.

16 Feb, 2017

BNU

BNU records 9.8 percent rise in net income for 2016

Banco Nacional Ultramarino (BNU) announced on Tuesday its unaudited financial results for 2016, recording a 9.8 percent increase in net income to MOP560.5 million for the year.

15 Feb, 2017

industrial sector

Macau government finishes study on industrial sector

The Economic Services Bureau (DSE) has finished a study on how Macau should reposition itself in the development of its industrial sector, according to a statement from the bureau on Sunday.

13 Feb, 2017

Macau's economy

Leong expects Macau’s economy to show ‘modest’ growth

Secretary for Economy and Finance Lionel Leong says the government is confident that Macau’s economy will record “modest” growth this year. Macau’s economy in the first half of last year continued the downward trend seen in 2015, the second half of 2016 recorded a “relatively stable” performance.

13 Feb, 2017

Hong Kong-Zhuhai-Macau bridge

Macau will have to chip in for Hong Kong-Zhuhai-Macau bridge costs

The final costs of construction for the Hong Kong-Zhuhai-Macau bridge will exceed the original estimated budget. The three governments will now have to chip in on a proportional basis to make up for the difference.

10 Feb, 2017

credit cards in Macau

Number of credit cards in Macau in 2016 exceeds one million

The number of personal credit cards issued, directly or indirectly, by credit institutions in Macau reached 1.06 million.

7 Feb, 2017

Book Pearl River Delta

Pearl River Delta research book launched in Macau

The International Institute of Macau has launched the book “Pearl River Delta – From World Factory to Global Innovator,” with the aim of analysing the economic future of the Pearl River Delta region of southern China.

7 Feb, 2017

Lionel Leong

Lionel Leong doesn’t promise minimum wage in Macau in 2019

Secretary for Economy and Finance Lionel Leong Vai Tac declined on Wednesday to say whether the government could keep its promise that the city’s law on a statutory minimum wage for all workers will finally be implemented in 2019.

26 Jan, 2017

Prices in Macau rise 2.37 per cent in 2016

Prices in Macau in 2016 recorded an average annual increase of 2.37 per cent due to a rise in the price of car park leases, the prices of meals bought away from home, cars and tobacco and the costs of buildings management services, reported the Statistics and Census Bureau.

24 Jan, 2017

Macau’s GDP expected to grow 3.2 per cent

The Department of Economics, University of Macau (UM) released a report stating that the region’s economy is beginning to recover and is forecast to “continue its steady growth in 2017.”

23 Jan, 2017

Macau banker expects housing prices to fall

Macau Small and Medium Enterprises (SMEs) Association President Stanley Au Chong Kit said on Thursday he expected housing prices in the city to drop this year, in the expectation that the US Fed will raise interest rates several times in the year ahead.

20 Jan, 2017

Macau-based BNU opens Hengqin branch

Macau-based Banco National Ultramarino (BNU) officially inaugurated its Hengqin branch, becoming Macau's first local incorporated bank to open a branch in the mainland.

19 Jan, 2017

Macau’s gaming tax not only factor for casinos’ competitiveness says Lionel Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said on Tuesday that the gaming tax rate was not the only factor in determining the local gaming industry’s competitiveness. Leong made the remarks on the sidelines of a press conference at the Macau Chamber of Commerce about local gaming operators’ procurement partnerships with small- and medium-sized enterprises (SMEs).

18 Jan, 2017

Macau government pledges ‘good quality’ conventions

Secretary for Economy and Finance Lionel Leong Vai Tac pledged on Thursday that the government will further promote the development of the convention and exhibition industry, with priority being given to the organisation of conferences. Leong also vowed that the government will strive to bring more “good quality” international conventions and exhibitions to the city.

13 Jan, 2017

Government to boost integration of Macau in the “One Belt, One Road”

The government of Macau will give new impetus to the integration of the service platform for trade cooperation between China and Portuguese-speaking countries in the “One Belt, One Road,” initiative said the Secretary for Economy and Finance, Leong Vai Tac.

12 Jan, 2017

Re-appointed official of Forum Macau vows to promote Sino-PSC platform

Echo Chan Keng Hong, the re-appointed deputy secretary-general of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (PSCs), said on Tuesday she was glad that she has been re-appointed to the post after she resigned in late 2015. Chan said her important tasks would include pushing for the implementation of the various support measures announced by the central government last year.

11 Jan, 2017