Economy

Maritime transport loses importance in the connection between Hong Kong and Macau

The number of visitors who arrived in Macau in November by sea, approximately 413,700, represented a decline of 39.0% year–on–year.

28 Dec, 2019

Macau close to launching a public housing project in Hengqin

Macau and Zhuhai governments have since beginning of the year started planning on a housing project in Hengqin Island. 

24 Dec, 2019

LRT carries over 200,000 passengers since start: Rosário

The Light Rapid Transit (LRT) system has carried over 200,000 passengers since the launch of its service on December 10, Secretary for Transport and Public Works Raimundo do Rosário said.

21 Dec, 2019

Lawmakers pass 2020 budget bill

The Legislative Assembly unanimously passed the government’s 2020 budget bill.

17 Dec, 2019

New border between Macau and Zhuhai will decrease crossing time

The construction of the new border between Macau and Zhuhai on Hengqin Island is expected to be finished by Dec 20-the 20th anniversary of Macau’s return to China.

14 Dec, 2019

Macau’s achievements illustrate vitality of ‘One Country, Two Systems’: envoy

Macau’s development achievements over the past 20 years have demonstrated the vitality of "One Country, Two Systems," a senior Chinese diplomat said.

13 Dec, 2019

Macau economy expected to post growth of 5.2% in 2019, EIU says

Macau’s economy will contract at a rate of 5.2% in 2019, according to the latest forecasts from the Economist Intelligence Unit (EIU), which refer to 2021 as the year in which the territory will return to positive growth rates.

12 Dec, 2019

Glória Ung returns to IPIM after one year suspension of duties

After more than a one year suspension from her duties in IPIM Glória Batalha Ung returned to the institution to work in the Department of Economic and Commercial Promotion with Lusophone markets.

12 Dec, 2019

Light Metro opens to the public next Tuesday

A decade after the project was launched, the Macau Light Rail (LRT) will start operations on Tuesday.

7 Dec, 2019

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