Economy

Macau International Fair in 2016 will have over 1,600 stands

The 21st edition of the Macau International Fair (MIF), taking place from 20 to 22 October, will have the participation of over 50 countries and regions showcased at over 1,600 stands, said the fair’s organising body, the Macau Institute for Trade and Investment Promotion (IPIM). Based on the theme of “Cooperation – The Key to … Continue reading "Macau International Fair in 2016 will have over 1,600 stands"

14 Oct, 2016

New federation helps deepen Sino-PSCs co-operation says vice-minister

Vice Minister of Commerce Gao Yan said on Wednesday that entrepreneurs from China and Portuguese-speaking countries (PSCs) would use a newly-set up federation as a platform to deepen bilateral trade and investment. Gao made the remarks in a speech at the 5th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and … Continue reading "New federation helps deepen Sino-PSCs co-operation says vice-minister"

13 Oct, 2016

Chinese fund for investment in PSCs will be based in Macau

The headquarters of the US$1 billion fund for investment in Portuguese-speaking countries announced by China in 2013 will be transferred from Beijing to Macau to facilitate contact with potential interested parties, the President of the Fund said on Wednesday in Macau. The information was provided to Portuguese news agency Lusa by the president of the … Continue reading "Chinese fund for investment in PSCs will be based in Macau"

13 Oct, 2016

Macau’s GDP to drop 4.7% this year

Macau’s gross domestic product will drop 4.7 per cent in real terms this year, the International Monetary Fund (IMF) predicts in its World Economic Outlook October 2016. The Macau Post Daily received the report from the Washington-based lender on Wednesday. In its April outlook, the fund had still forecast a negative GDP growth of 7.2 … Continue reading "Macau’s GDP to drop 4.7% this year"

6 Oct, 2016

Merchandise imports increase in August in Macau

The value of merchandise imports in August registered an increase for the first time since August 2015, up by 1.8 per cent year-on-year to MOP6.92 billion. According to information released on Thursday by the Statistics and Census Service (DSEC), imports of large passenger cars surged by 722.9 per cent and imports of watches and gold … Continue reading "Merchandise imports increase in August in Macau"

30 Sep, 2016

Macau inflation further slows to 1.65 per cent in August

Macau’s composite consumer price index (CPI) rose a mere 1.65 per cent year-on-year last month, a further decrease of 0.43 per centage points from the 2.08 per cent growth in July, the Statistics and Census Bureau (DSEC) said in a statement on Wednesday. The statement attributed the increase mainly to higher rentals for parking spaces … Continue reading "Macau inflation further slows to 1.65 per cent in August"

22 Sep, 2016

Macau’s economy with contraction of 5.9 per cent in 2016, EIU  

The fall in Macau exports of services relating to games of fortune should reach its lowest point this year, and the economy as a whole will contract 5.9 per cent, in real terms, according to Economist intelligent Unit (EIU). The growth rate of gross domestic product will reverse the downward trend registered since 2014, when … Continue reading "Macau’s economy with contraction of 5.9 per cent in 2016, EIU  "

19 Sep, 2016

Gaming recovery in Macau helps imports

Lawmaker Dominic Sio Chi Wai said on Monday that he believed that the recovery of gaming revenues will help boost Macau’s imports. Sio made these remarks while speaking to reporters on the sidelines of the general meeting of the Macau Importers and Exporters Association on its premises in the city centre. Sio, who chairs the … Continue reading "Gaming recovery in Macau helps imports"

13 Sep, 2016

5th Macau Forum Ministerial Conference to be held in October

The 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau) will take place on 11 and 12 October 2016, said the Government Information Bureau (GCS). The conference, whose theme is “Towards Consolidation of Economic and Trade Relations between China and the Portuguese-speaking Countries: Joining Efforts for Cooperation, … Continue reading "5th Macau Forum Ministerial Conference to be held in October"

7 Sep, 2016

Macau government rents offices for 4 billion patacas in 10 years

The government spent four billion patacas on leasing office space in private properties for its bureaus and other public entities between 2004 and 2014, the Commission of Audit (CA) said in a report yesterday. The commission criticised the Lands, Public Works and Transport Bureau (DSSOPT) for being responsible for the dilemma by failing to plan … Continue reading "Macau government rents offices for 4 billion patacas in 10 years"

1 Sep, 2016

Car and motorbike imports drop 56 per cent in Jan-July

Macau’s imports of cars and motorcycles dropped by 56.4 per cent year-on-year to 700 million patacas, the Statistics and Census Bureau (DSEC) announced yesterday. Mobile phone imports fell by 47.4 per cent to 2.5 billion patacas. Imports of watches dropped by 42.8 per cent to 2.2 billion patacas. Gold jewellery imports decreased by 27.9 per … Continue reading "Car and motorbike imports drop 56 per cent in Jan-July"

1 Sep, 2016

Macau’s GDP decline slows to 7.1 per cent in Q2

Macau’s gross domestic product shrank by 7.1 per cent year-on-year in real terms in the second quarter of the year, showing signs of improvement compared with the first quarter, the Statistics and Census Bureau (DSEC) said on Tuesday. GDP contracted by 13.3 per cent in the first quarter. A DSEC statement attributed the lower GDP … Continue reading "Macau’s GDP decline slows to 7.1 per cent in Q2"

31 Aug, 2016

Macau inflation continues slowing down

Growth in the city’s composite consumer price index (CPI) continued to slow down last month, rising just 2.08 per cent year-on-year, a decrease of 0.18 percentage points from the 2.26 per cent growth in June, the Statistics and Census Bureau (DSEC) announced on Monday. A DSEC statement attributed last month’s increase mostly to higher rentals … Continue reading "Macau inflation continues slowing down"

23 Aug, 2016

Macau recommends new projects for Hengqin Industrial Park

The Macau government is preparing to recommend a second group of projects for the Guangdong-Macau Industrial Cooperation Park on Hengqin Island, announced the Macau Trade and Investment Promotion Institute (IPIM). IPIM’s statement said that the Board of Management of the Hengqin New Area, in the municipality of Zhuhai, suggested the Macau government should present new … Continue reading "Macau recommends new projects for Hengqin Industrial Park"

20 Aug, 2016

New Secretary-General of the Permanent Secretariat of Forum Macau takes office

The new Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macau) took office on Thursday. Xu Yingzhen served for several years as Commercial Counsellor of the Department of American and Oceanian Affairs of the Ministry of Commerce of China (equivalent to Director-General level). Xu replaced Chang … Continue reading "New Secretary-General of the Permanent Secretariat of Forum Macau takes office"

15 Aug, 2016

Macau Monetary Authority: Economy to stabilise next year

A Monetary and Financial Stability Review compiled by the Monetary Authority indicates that Macau’s economy is back on track and could resume growth already next year. “Macau SAR’s current economic adjustment is cyclical, and the sign of bottoming-out is looming. Economic contraction is likely to continue through 2016 but the degree is narrowing as mainly … Continue reading "Macau Monetary Authority: Economy to stabilise next year"

3 Aug, 2016

BNU Macau concludes first six months with net results up 17 per cent

Banco Nacional Ultramarino (BNU Macau) concluded the first half of 2016 with year-on-year growth of 17 percent in net results, which amounted to MOP278.57 million (US$34.8 million), said chief executive officer Pedro Cardoso. Cardoso told Macauhub on Monday that all key banking business indicators showed improvements when half-years were compared. He highlighted, for example, the … Continue reading "BNU Macau concludes first six months with net results up 17 per cent"

3 Aug, 2016

Macau’s imports dropped by 21.1 per cent in H1

Macau’s imports of cars and motorcycles shrank by 56.7 per cent to MOP593 million in the first half of the year, the Statistics and Census Bureau (DSEC) has announced. Imports of watches dropped by 41.6 per cent year-on-year to MOP1.95 billion in the first half of the year. Mobile phone imports decreased by 47.6 per … Continue reading "Macau’s imports dropped by 21.1 per cent in H1"

1 Aug, 2016

Macau's 2016 GDP

Macau’s June annual inflation continues to slow

Annual inflation in Macau in June continued to slow down, posting an increase of 2.26 per cent year on year, or a decrease of 0.38 percentage points compared to May, reported the city’s Statistics and Census Bureau. Growth in June was mainly due mainly to rising car park rates as well as the prices of … Continue reading "Macau’s June annual inflation continues to slow"

22 Jul, 2016

Macau and China add protocol to the agreement to avoid double taxation

The Macau Special Administrative Region (MSAR) and China’s State Administration of Taxation in Beijing signed an additional protocol to the agreement to avoid double taxation and prevent tax evasion, officials said in Macau. The Additional Protocol, the third, according to the statement released by the Office of the Secretary for Economy and Finance includes reducing … Continue reading "Macau and China add protocol to the agreement to avoid double taxation"

21 Jul, 2016