Economy

GDP shrinks in Q1,1st drop after 10 quarters

Macau’s gross domestic product (GDP) shrank by 3.2 percent year-on-year in real terms, ending the uptrend that lasted for 10 consecutive quarters, the Statistics and Census Bureau (DSEC) said Monday.

4 Jun, 2019

LRT subsidy to top 1 billion patacas per year: lawmaker

The Macau government will subsidise the LRT skytrain operation with more than 1 billion patacas a year, Mak Soi Kun, president of the Legislative Assembly’s Public Finance Affairs Follow-Up Committee, has indicated.

3 Jun, 2019

Govt to study feasibility of stock market: monetary chief

The Macau government intends to hire a consultancy to study the feasibility of opening a stock market in Macau, Macau Monetary Authority (AMCM) President Benjamin Chan Sau San says.

3 Jun, 2019

Q1 economy suffers negative growth: Leong

Macau’s economy in the first quarter experienced negative growth year-on-year, primarily due to the high base of comparison in the same quarter of last year.

31 May, 2019

Nine deals bolster Guangdong-Macau cooperation

Monday’s Guangdong-Macau Cooperation Joint Conference has resulted in nine agreements covering the next phase of cooperation between the two areas, and reinforced their efforts to press ahead with the objectives envisaged under the plan for the GBA

28 May, 2019

Forum aims to help improve BRI infrastructure strategies

A forum to be held in Macau later this week aims to be a platform for leaders to exchange ideas and information on infrastructure strategies mainly in connection with the central government’s Belt and Road Initiative (BRI) Yu Xiaohong, vice-president of the China International Contractors Association, said Monday.

28 May, 2019

Retail sales drop 1.9 pct in Q1

Retail sales in the first quarter of this year fell by 1.9 percent year-on-year to 20.38 billion patacas, the Statistics and Census Bureau (DSEC) has announced.  

27 May, 2019

Eco enzyme made from kitchen waste can save planet: group

A local group launched a series of events Sundsy promoting the idea that eco enzyme made from kitchen waste can save the planet.

27 May, 2019

Moody’s keeps ‘stable outlook’ for Macau

US credit rating agency Moody’s Investors Service affirmed on Wednesday Macau’s local and foreign currency issuer rating at Aa3 and maintained the special administrative region’s “stable outlook”.

23 May, 2019

Macau land area grows by over 1/3 since 1999

The total land area the Macau Special Administrative Region (MSAR) reached 32.9 square kilometres at the end of last year, an increase of 38.2 percent from the end of 1999, when the MSAR was established and its land area stood at 23.8 sq. km.

25 Apr, 2019

More but smaller households: survey

There are more but smaller households compared to five years ago, according to the findings of a survey announced by the Statistics and Census Bureau (DSEC) on Friday.

15 Apr, 2019

Macau Government defines external economic and trade cooperation in three geographic areas

The Macau government will strengthen economic and trade cooperation with the outside world, notably Latin America through Brazil, the European Union through Portugal and Africa through Angola and Mozambique, the Secretary for Economy and Finance said in Beijing.

12 Apr, 2019

IMF projects Macau’s economy will contract slightly to 4.3% by 2019

Macau’s economy is expected to see a growth of 4.3% this year, down by 40 basis points from 4.7% in 2018, according to the latest economic forecasts from the International Monetary Fund (IMF).

12 Apr, 2019

Leong Vai Tac discusses Macau’s role as a financial platform, in Beijing

he Macau government is working to publicise the currency of China and the services provided by local banks in Portuguese-speaking countries, the secretary for Economy and Finance said on Wednesday in Beijing.

12 Apr, 2019

WTO approves China’s Hong Kong-Macau CEPA agreement

The World Trade Organization (WTO) has recently examined and approved the China's Hong Kong-Macao Closer Economic Partnership Arrangement (CEPA) to ensure that the agreement is in lines with the WTO rules, the government of the Macau said in a press release on Wednesday.

4 Apr, 2019

State Council declares Hengqin ‘international tourism island’

China  mainland aims to develop Hengqin District into an “international tourism island” in its efforts to further integrate the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), according to a Xinhua report Tuesday.

3 Apr, 2019

BOC opens virtual centre for GBA and BRI projects

The novel Bank of China (BOC) Global Advanced Corporate Finance Centre concept got off the ground Tuesday, providing a financing platform for local investors participating in the Belt and Road Initiative (BRI) and Greater Bay Area (GBA) development projects.

3 Apr, 2019

Government proposes bill on trade in rough diamonds

The Executive Council announced yesterday that the government has drafted a bill which – if approved by lawmakers – would enable Macau to implement the Kimberley Process Certification Scheme (KPCS), which then would allow Macau to import rough diamonds.

29 Mar, 2019

Eco-fair focuses on building ecological civilisation

Acting Chief Executive Sonia Chan Hoi Fan said Thursday that Macau as one of the core cities in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), apart from promoting the adequate diversification of its economy, ecological civilisation construction was the “only way” to achieve sustainable development.

29 Mar, 2019

Permanent Secretariat of Macau Forum vows to implement its work via 5 elements

Xu Yingzhen, secretary-general of the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), said Wednesday that this year, the focus of the secretariat’s work would be based on five elements, namely promoting trade and investment, promoting cooperation on production capacity, carrying out training of human resources, and supporting the development of Macau as a platform for China and Portuguese-speaking countries for economic and trade cooperation.

28 Mar, 2019