Economy

Chui says 8 measures will advance GBA project

Chief Executive Chui Sai On said in Beijing on Friday that the central government would launch eight major measures to advance the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA)

4 Mar, 2019

2018 GDP growth slows to 4.7 pct

Growth in Macau’s gross domestic product (GDP) slowed to 4.7 percent year-on-year in real terms last year, the Statistics and Census Bureau (DSEC) announced.

1 Mar, 2019

GBA plan reveals nation’s ‘high trust in, expectation for Macau’: Mi Jia

The Macau government’s Policy Research and Regional Development Bureau (DSEPDR) Director Mi Jian said Thursday in Beijing that the Outline Development Plan for the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), which was released by the central authorities last week, has endowed Macau with “a historic mission and responsibility in the new era”

1 Mar, 2019

Retail sales rise 15.9 pct in 2018

Macau’s total value of retail sales rose by 15.9 percent year-on-year to 76.8 billion patacas last year, the Statistics and Census Bureau (DSEC) announced.

28 Feb, 2019

Macau should see moderate economic expansion in the medium term, IMF says

Macau is expected to experience moderate economic expansion in the medium term, with surpluses in budget execution and external accounts sustained by mass tourism and non-gambling tourism, coupled with the continued monopoly on gambling in China, according to forecast by the International Monetary Fund (IMF).

27 Feb, 2019

Residential property prices rise 7.5 pct in 2018: official

The average price of residential units rose by 7.5 percent year-on-year to 108,427 patacas per square metre of usable area last year, the Statistics and Census Bureau (DSEC) announced.

22 Feb, 2019

China unveils development plan for Guangdong-Hong Kong-Macau Greater Bay Area

Chinese authorities on Monday unveiled the outline development plan for the Guangdong-Hong Kong-Macau Greater Bay Area, aiming to develop the region into "a role model of high-quality development." according to Xinhua News Agency.

18 Feb, 2019

Blueprint for Bay Area to be revealed

The blueprint for the massive economic development that will turn the Guangdong-Hong Kong-Macao Greater Bay Area into a global economic powerhouse will be made public within days according to China Daily today.

14 Feb, 2019

Home mortgage loans rise 13.9 pct in 2018

The outstanding value of home mortgage loans amounted to 215.7 billion patacas at the end of last year, a year-on-year growth of 13.9 percent, the Macau Monetary Authority (AMCM) said.

13 Feb, 2019

Revised taxi bill reduces cabbies’ criminal record barriers 

The government has reduced the criminal record barriers for people wanting to work as cabbies, according to the final version of its taxi sector bill whose revision was completed by a standing committee of the Legislative Assembly (AL)

13 Feb, 2019

BNU visits 3 Portuguese-speaking countries

Representatives of Macau’s two note-issuing banks, Banco Nacional Ultramarino (BNU) and the local branch of Bank of China (BOC) visited three Portuguese-speaking countries (PSCs) last month.

12 Feb, 2019

SJM ‘looks forward’ to continuation of its concession

“We look forward to the continuation of our gaming concession, joining hands with the government and the people of Macau in creating a new chapter in the city’s growth story," said the gaming company’s Board Chairman Ambrose So Shu Fai.

11 Feb, 2019

Cosmetics imports rise 51 pct in 2018

Macau’s imports of beauty, cosmetics and skin-care products rose by 51.5 percent to 4.8 billion patacas last year, the Statistics and Census Bureau (DSEC) has announced.

4 Feb, 2019

Wynn Palace revenues up, Wynn Macau down in 4Q

Operating revenues from Wynn Palace were US$740.6 million for the fourth quarter of 2018, up 12.8 percent year-on-year.

1 Feb, 2019

Locals’ jobless rate dips to 2.4 pct in 2018

Local residents’ unemployment rate dropped by 0.3 percentage points to 2.4 percent year-on-year last year, the Statistics and Census Bureau (DSEC) said in a statement .

29 Jan, 2019

US think tank gives Macau clean bill of ‘fiscal health’ 

A conservative US think tank has given Macau top marks for its “fiscal health.”

28 Jan, 2019

Inflation rate hit 3.01 pct in 2018

Macau’s inflation rate amounted to 3.01 percent last year, up by 1.78 percentage points from the 1.23 percent rate in 2017, the Statistics and Census Bureau (DSEC) announced .

23 Jan, 2019

Property prices to drop up to 10 pct this year: JLL

Property prices will face a downward correction, with local Jones Lang LaSalle (JLL) representatives yesterday forecasting a drop of up to 10 percent in prices of residential and retail units.

17 Jan, 2019

Beijing approves blueprint for ‘Greater Bay Area’ to rival with document expected to be released on February 21

Beijing has just approved a much-awaited blueprint to create an IT-led economic powerhouse in southern China after ironing out intricate competition and technical issues, and will unveil it in late February.

13 Jan, 2019

LRT trains to run from 6 a.m. to 1 a.m.: govt

Macau’s Light Rapid Transit (LRT) trains will run daily from 6 a.m. to 1 a.m., Secretary for Transport and Public Works Raimundo do Rosario told reporters

10 Jan, 2019