Economy

Leong hopes to tighten Macau-Zhejiang ties

Secretary for Economy and Finance Lionel Leong Vai Tac said on Monday the government hoped to boost co-operation between Macau companies and their counterparts in Zhejiang, adding that the cultural and commercial exchanges between the two places were becoming more frequent. Addressing the founding ceremony of the Association of Zhejiang Entrepreneurs of Macau at Macau … Continue reading "Leong hopes to tighten Macau-Zhejiang ties"

7 Jun, 2016

Macau can help mainland firms expand says IPIM chief

Macau can assist mainland enterprises in expanding their businesses in Portuguese-speaking countries and markets along the “Belt and Road” by providing construction-finance matching services, Macau Trade and Investment Promotion Institute (IPIM) President Jackson Cheong was quoted by Xinhua News Agency. Cheong made the remarks in a speech at the opening session of the 7th International … Continue reading "Macau can help mainland firms expand says IPIM chief"

3 Jun, 2016

Macau ranks ninth in competitiveness of Chinese cities

The latest report released by the Chinese Academy of Social Sciences on competitiveness of cities, has placed Macau at ninth, according to a note published this week by the Macau University of Science and Technology. The release of the Chinese Urban Competitiveness Report marks the 14th anniversary of the publication. The report includes 294 cites, … Continue reading "Macau ranks ninth in competitiveness of Chinese cities"

3 Jun, 2016

Extension of CEPA agreement comes into force

The agreement on trade in services between mainland China and Macau, which came into effect on Wednesday, 1 June, will allow companies from 153 areas of activity to offer their services in the interior of China. The document, which is an extension of the Closer Economic and Trade Partnership Arrangement between China and Macau (CEPA) … Continue reading "Extension of CEPA agreement comes into force"

2 Jun, 2016

Macau’s balance trade deficit decreases in Q1

Macau’s balance of trade deficit from January to April showed a 23.9 per cent year-on-year decrease to 19.331 billion patacas (US$2.416 million), reported the Statistics and Census Bureau. The data available on the Bureau’s website shows that the trade deficit in the same period of 2015 amounted to 25.451 billion patacas. The deficit registered in … Continue reading "Macau’s balance trade deficit decreases in Q1"

2 Jun, 2016

Macau’s vehicle imports drop 52.1 per cent in January-April

Macau’s imports of motor vehicles – cars and scooters – dropped by 52.1 per cent year-on-year to 434 million patacas in the first four months of the year, the Statistics and Census Bureau (DSEC) announced on Tuesday. Imports of mobile phones fell by 54.7 per cent year-on-year to 1.6 billion patacas. Imports of gold jewellery dropped by 24.3 per … Continue reading "Macau’s vehicle imports drop 52.1 per cent in January-April"

1 Jun, 2016

Macau GDP shrinks 13.3 per cent in Q1

Macau’s gross domestic product (GDP) shrank by 13.3 per cent year-on-year in real terms in the first quarter, the Statistics and Census Bureau (DSEC) said in a statement on Monday. The bureau attributed the decrease in the city’s economic output mainly to “the continuous decline in exports of services and decrease in investment.” According to … Continue reading "Macau GDP shrinks 13.3 per cent in Q1"

31 May, 2016

Casino crimes rise 56 per cent in Q1

Secretary for Security Wong Sio Chak said on Monday that the number of gaming-related crimes rose by 55.9 per cent year-on-year in the first quarter of the year. Wong announced the city’s crime figures for the first three months of the year during a press conference at his office in Cotai. According to Wong, gaming-related … Continue reading "Casino crimes rise 56 per cent in Q1"

31 May, 2016

Macau’s inflation slows to 3.02 per cent in April

Macau’s composite consumer price index (CPI) rose by 3.02 per cent year-on-year last month, down by 0.29 percentage points from the 3.31 per cent growth in March, the Statistics and Census Bureau (DSEC) announced on Tuesday. For the 12 months ended in April 2016, the average composite CPI rose by 4.09 per cent from the … Continue reading "Macau’s inflation slows to 3.02 per cent in April"

25 May, 2016

Macau unionist urges integration of festivals and non-gaming attractions

Macau’s six gaming operators should integrate the promotion of their non-gaming attractions with the city’s festivals and major annual events such as the Macau Grand Prix, Leong Sun Iok, a vice-president of the Macau Federation of Trade Unions, said last Sunday. Leong, who heads the Gaming Employees Home, a subsidiary of the federation, spoke to … Continue reading "Macau unionist urges integration of festivals and non-gaming attractions"

23 May, 2016

Macau’s residential property prices fall 4.2 per cent in Q1

The average price of residential units decreased by 4.2 per cent quarter-to-quarter to 72,955 patacas per square metre of usable area in the first quarter, the Statistics and Census Bureau (DSEC) announced on Tuesday. The average price of pre-sale residential units dropped by 8.9 per cent to 94,165 patacas per square metre. The average price … Continue reading "Macau’s residential property prices fall 4.2 per cent in Q1"

18 May, 2016

BNU donates 1.6 million patacas to Macau’s oldest charity

Local Portuguese lender BNU has donated 1.6 million patacas to Tung Sin Tong, the city’s oldest charitable organisation. According to a BNU statement issued on Tuesday, BNU Chief Executive Officer Pedro Cardoso handed the donation to Tung Sin Tong President Chui Sai On at the social welfare body’s headquarters last Friday. Tung Sin Tong has … Continue reading "BNU donates 1.6 million patacas to Macau’s oldest charity"

11 May, 2016

Caixa Geral de Depósitos aims to faciliate businesses between China and the PSC’s

Portuguese state financial group Caixa Geral de Depósitos (CGD) plans, from a base in Macau where it has a significant presence through the Banco Nacional Ultramarino (BNU), plans to function as a business facilitator between China and the Portuguese-speaking countries, the group’s “Chief China Officer”, Alberto Soares, told Macauhub. Taking into account the role already … Continue reading "Caixa Geral de Depósitos aims to faciliate businesses between China and the PSC’s"

10 May, 2016

Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau’s trade deficit in the first quarter of 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year improvement of 25.3 per cent, reported the Statistics and Census Bureau. According to the Bureau, the trade deficit in the first quarter of 2015 totalled 19.5516 billion patacas. In the first three months of 2016, Macau … Continue reading "Macau posts trade deficit of US$1.825 billion in the 1st quarter"

4 May, 2016

BNU recorded a MOP 510 million net income in 2015

Banco National Ultramarino, S.A. (BNU) recorded a net income of MOP 510.3 million (USS63.88 million) in 2015, up 15.1 per cent from MOP 443.3 million in 2014, according to a press release issued on Tuesday by the bank. The financial results also indicate that in 2015 BNU registered a 21.6 per cent increase in credit … Continue reading "BNU recorded a MOP 510 million net income in 2015"

27 Apr, 2016

Inflation growth slows in March

Macau’s composite consumer price index (CPI), a main gauge of inflation, grew 3.31 per cent in March from a year earlier, according to official data from the Statistics and Census Service (DSEC) revealed on Thursday. This is a decrease of 0.57 per centage points from the 3.88 per cent year-on-year growth recorded in February. DSEC attributed … Continue reading "Inflation growth slows in March"

22 Apr, 2016

IMF says Macau economy to contract 7.2 per cent in 2016

The International Monetary Fund (IMF) forecast Macau SAR’s economy to contract 7.2% for 2016 and to resume a positive growth of 0.7% for 2017 informed the Monetary Authority of Macau on Wednesday. The international organisation indicated that Macau SAR’s inflation to linger around 3.0% and its unemployment rate to stay at a low level of … Continue reading "IMF says Macau economy to contract 7.2 per cent in 2016"

14 Apr, 2016

Hainan wants more co-operation with Macau

Hainan and Macau have many different and complementary strengths, Liu Cigui, governor of the nation’s southernmost province, said on Monday, adding that the two sides should step up their co-operation in various spheres such as tourism. “We attach great importance to Macau and are grateful for Macau businesspeople’s long-term contribution to Hainan. Currently there are … Continue reading "Hainan wants more co-operation with Macau"

12 Apr, 2016

Macau Airport Q1 passenger traffic rises 20%

Macau International Airport reported its passenger traffic rose 20% compared to a year ago to a more than 1.6 million passengers in the first quarter this year, or 18,000 passengers daily. The airport handled more than 14,000 flights (departure and arrival), a rise of 7% year-on-year. During the four-day Easter Holidays, the airport handled more … Continue reading "Macau Airport Q1 passenger traffic rises 20%"

7 Apr, 2016

New Macau Economic Bureau official vows to boost ‘community-based economies’

Newly-appointed Economic Services Bureau (DSE) Director Tai Kin Ip said on Tuesday his bureau would do more to boost “community-based economies” by providing support to small- and medium-sized enterprises (SMEs) and improving the business environment. Tai made the pledge after the swearing-in ceremony for his new post at the Bank of China Building in Nam … Continue reading "New Macau Economic Bureau official vows to boost ‘community-based economies’"

6 Apr, 2016