9 December 2016
The Gross Domestic Product of Macau (GDP) is expected to return to growth in 2017, the year in which the Economist Intelligence Unit (EIU) expects a rate of 5.2%, which will rise one-tenth of a percentage point to 5.3% in 2018 according to the latest report on the territory. Macau's economy contracted by 21.5% in 2015 and should end this year with a fall of 3.5%, after having contracted 5.4% from January to September but grown 4.0 % in the third quarter.
7 December 2016
The European Union and Macau have agreed to continue the "Training programme for conference interpreting and translation of Chinese and Portuguese" in order to fulfill the needs for qualified bilingual interpreters, during a meeting on Monday in Brussels. At that meeting, the 21st of the Joint EU-Macau Committee, the Macau delegation presented the Special Administrative Region's Five-Year Development Plan for Macau (2016-2020), recently enacted, according to a statement released by the Office of the Secretary for Economy and Finance.
2 December 2016
Revenues from Macau's casinos grew in November to an annual rate of two digits, by 14.4%, the first time this has happened since last August reversed a long series of 26 months of falls, according to the Macau Gaming Inspection and Coordination Bureau. Gross revenues recorded in November reached 18.788 billion patacas (US$2.348 billion), which despite being higher than in the same month last year - 16.425 billion patacas - was lower than in October, the month in which it reached 21.815 billion patacas.
30 November 2016
Foreign trade in Macau totalled 66.613 billion patacas (US$8.326 billion) from January to October, which represents a contraction of 13.565 billion patacas over the same period of 2015, reported the Statistics and Census Bureau. Macau exported in this period goods worth 8.497 billion patacas (-4.8% year on year) and imported goods whose value amounted to 58.116 billion patacas, with the deficit standing at 49.619 billion patacas, an annual improvement of 20.1%.
24 November 2016
24 November 2016
23 November 2016
Macau's economy recorded annual growth of 4.0% in real terms in the third quarter of 2016, the first time in the last two years it has recorded quarterly growth, reported the Statistics and Census Bureau. The growth was due to a surge in the value of exports of services and investment, in particular exports of gaming services and other tourist services increasing in annual terms by 0.2% and 6.5 %, respectively, after posting contractions of 9.9% and 6.0& in the second quarter.
22 November 2016
The Programme of Investment and Administrative Development Expenses (PIDDA) in Macau will cost 15.256 billion patacas (US$1.907 billion), an annual increase of 37.8% or 4.187 million patacas, the Macau Secretary for Economy and Finance said on Monday. Secretary Leong Vai Tac, presenting the budget bill for the Macau Special Administrative Region for the 2017 financial, said regarding the PIDDA that higher expenses are those associated to the construction of an artificial island next to the Hong Kong / Zhuhai / Macau bridge, with a budgeted cost of 3.009 billion patacas and construction of public facilities, with 2.594 billion patacas.
22 November 2016
Annual inflation in Macau in October continued on the downward trend already observed in the last few months, and stood at 1.33%, down 0.26 percentage points over September, reported the region's Statistics and Census Bureau. Growth in October was due mainly to increases in the prices of meals bought away from home, car parks rentals, the costs of building management services, car prices and school fees.
17 November 2016
16 November 2016
Revenues from Macau's casinos are expected to be 200 billion patacas (US$25 billion) in 2017, a figure similar to that expected for this year, Macau's Chief Executive, Chui Sai On, said on Tuesday in a Policy Address for 2017. Casino gambling revenue at the end of October reached 184.607 billion patacas (US$23 billion), and if the monthly average remains at 184.6 million patacas at the end of the year the total is expected to exceed 220 billion patacas.
15 November 2016
A delegation from the Macau Trade and Investment Promotion Institute (IPIM) was recently in Beijing to promote Macau as a destination for conventions and exhibitions (MICE) at the 83rd Global UFI Congress - Global Association of the Exhibition Industry, IPIM said. The 83rd Global UFI Congress was held under the theme "Ripples - The Exhibition Industry in Transformation", and the participants analysed the main challenges that the MICE industry faces today, including the changes brought about by the digital age, the uncertainty linked to political instability and the transformation of the global economy.
14 November 2016
The Macao Government Tourist Office (MGTO), together with Macau tour operators participated in the "China International Travel Mart" (CITM), held from 11 to 13 November at the Shanghai New International Expo Centre, the MGTO said. The MGTO, which participated in the event with a display themed as "Experience Macau In Your Way," focusing on promoting diversity of tourism products, festivals and Macau events, and took the opportunity to strengthen ties with tourism industry operators in China and abroad and showcasing Macau's position and content as a World Centre of Tourism and Leisure.
11 November 2016
The government of Macau will recommend another 50 investment projects for the Guangdong-Macau Industrial Cooperation Park in Hengqin to the Board of the New Hengqin Zone, which were received during the application period, according to the Macau Institute for Trade and Investment Promotion (IPIM). An initial group of 33 investment projects was presented by the Macau government to the Board of the New Hengqin Zone in April 2014, according to the statement released by IPIM.
11 November 2016
The population of Macau decreased by 4,800 people from the second to the third quarter of 2016, having stood at 647,700 at the end of September, with the female population representing 51.4% of the total, reported the Statistics and Census Bureau. At the end of September 2015 the Macau population stood at 643,100 people, according to demographic statistics released by the bureau.
8 November 2016
7 November 2016
Cristina Morais term as coordinator of the Support Office to the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese Speaking Countries ended on 2 November, according to an order of the Macau Secretary for Economy and Finance. The order from Secretary Leong Vai Tac appoints Cristina Morais for a period of one year to the post of head of the Department of External Economic Relations of the Macau Economic Office, with effect from 3 November.
3 November 2016
Portuguese universities will support Portuguese language teaching at the University of Yangzhou, a city in China's Jiangsu Province, according to the Union of Portuguese Speaking Capital Cities (UCCLA). A delegation from UCCLA from 20 to 28 October visited Macau and three cities in Jiangsu at the invitation of the provincial government, with the provincial authorities and the Changzhou city supporting the UCCLA's intention to open an office in Yangzhou, Macau and Portuguese-speaking countries cooperation park, which will be located in that municipality.
3 November 2016