Economy

Mainland-Macau trade rises 5.5%

Trade between the Chinese mainland and Macau amounted to 17.59 billion yuan in the first 10 months of the year, up 5.5% year-on-year.

6 Dec, 2019

Mainland, Macau ink currency swap deal

The People’s Bank of China has inked a currency swap deal with the Macau Monetary Authority.

6 Dec, 2019

Consultation on 60 billion pataca fund to start mid-2020: monetary chief

The government will launch a public consultation in the middle of next year on the possible establishment of a company tasked with managing the local version of a “sovereign wealth fund”.

27 Nov, 2019

Retail sales dip 0.5% in Q3, Oct inflation hits 2.86%

The value of Macau’s retail sales dipped by 0.5% year-on-year to 18.06 billion patacas, while the sales volume dropped by 0.7%.

26 Nov, 2019

Lawmakers pass 2020 budget bill

Lawmakers on Monday passed unanimously the outline of the outgoing government’s 2020 budget bill, and will now be reviewed in detail by one of the standing committees of the legislature.

19 Nov, 2019

Recession deepens: GDP falls 4.5% in 3Q

Macau’s recession deepened in the third quarter when its gross domestic product shrank by 4.5% year-on-year.

18 Nov, 2019

Chui stresses socio-economic progress in his 10-year term

Chief Executive Fernando Chui Sai stressed that Macau has been able to keep up social and economic progress, ensure political stability, improve people’s livelihoods, speed up infrastructure development and maintain social harmony during his 10 years.

13 Nov, 2019

Chui says no regrets for scrapping perks & ‘sovereign wealth fund’ bills

Chief Executive Fernando Chui Sai On has no regrets that his government withdrew its controversial perks bill and its 60 billion-pataca “sovereign wealth fund” bill during his 10-year term.

13 Nov, 2019

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