15 September 2016
Macau Chief Executive Fernando Chui Sai On, said in Lisbon that his government is studying the creation of a complex in Macau which will incorporate the various initiatives that are underway to promote Macau as a platform between China and Portuguese-speaking countries . According to a statement from the Government Information Bureau (GCS), the centre will be housed in a single building and bring together interests in economic and commercial areas, offering services for companies, organisation of fairs, meetings and cultural exhibitions and professional training.
14 September 2016
13 September 2016
8 September 2016
6 September 2016
6 September 2016
Macau should enhance its role as a service platform between China and the Portuguese-speaking countries, especially in financial services and in settlement of renminbi between China and Portugal, the President of the Macau Monetary Authority said on Monday in Lisbon. "The formal membership, from 1 October, of the renminbi to special drawing rights of the International Monetary Fund is an important milestone on the road of internationalisation of the Chinese currency and we believe that in future the renminbi will be increasingly in demand in the international market and will be a widely used currency," said Anselmo Teng Lin Seng, at a seminar held in the Portuguese capital.
6 September 2016
The Macau government has awarded CCCC Highway Consultants, of China, the preliminary design of the fourth bridge between the Macau peninsula and Taipa Island for 75.19 million patacas (US$9.4 million), according to an order published in the Official Gazette. The order said the value of the contract awarded to the company extends for over a financial year and the payment will be made in two equal instalments of 33.83 million patacas in 2016 and 2017 and a remaining provision of 7.51 million patacas in 2019.
5 September 2016
The Macau Trade and Investment Promotion Institute (IPIM) will organise a visit by a delegation of entrepreneurs from Macau to Fujian province for the 19th China International Fair for Investment & Trade (CIFIT), IPIM said. The visit by the Macau delegation, according to IPIM, aims to generate new opportunities for cooperation and business exchange between mainland China, Macau and Portuguese-speaking countries.
2 September 2016
August broke a run of 26 months of drops in gross revenues from Macau's casinos with a positive variation of 1.1% and a value of 18.836 billion patacas (US$2.354 billion), according to the Macau Gaming Inspection and Coordination Bureau (DICJ). The series of revenue downturns began in June 2014, a month in which the casinos earned 27.215 billion patacas (US$3.401 billion) from punters, continued throughout 2015 and has now ended in August.
1 September 2016
The value of the Macau trade deficit continued on a downward trend from January to July to 33.25 billion patacas (US$4.156 billion) a year on year fall of 23.5%, reported the Statistics and Census Bureau. The reduction in the value of the deficit was due to imports falling from 49.861 billion patacas in the first seven months of 2015 to 39.192 billion patacas in the same period of this year, a drop of 21.4%.
31 August 2016
Macau's economy contracted by 10.3% in real terms in the first half of 2016, reported the region's Statistics and Census Bureau (DSEC). In the first six months of the year there were contractions in the main components of GDP - of -2.3% in private consumption, -23.5% in gross fixed capital formation or investment, -24.7% in exports of goods of 18.1% in imports of goods, -11.7% in exports of services and -3.4% in imports of services.
30 August 2016
Fifteen hotels were under construction in Macau in the second quarter of the year, adding 10,711 rooms to current accommodation in the territory, said the Land, Public Works and Transport Bureau (DSSOPT). Eight of these projects were being built on the Macau peninsula itself, with a total of 561 rooms, and five were being built in Cotai, a landfill area between the islands of Coloane and Taipa, with a total of 9,542 rooms.
24 August 2016
Macau received 17.56 million visitors in the first seven months of 2016, which was a rise of 0.9% against the same period of 2015, the region’s Statistics and Census Bureau (DSEC) said. The number of visitors from mainland China (11.58 million) rose by 0.3% year on tear and those from South Korea (364,600) and Taiwan (623,300) rose by 10.3% and 11.5%, respectively, with visitors from Hong Kong down 1.7% to 3.67 million.
23 August 2016
Macau's annual inflation in July remained on a downward trend by recording a figure of 2.08%, down 0.18 percentage points on inflation recorded in June 2016 (+2.26%), reported the region's Statistics and Census Bureau. Growth in July was due mainly to a rise in the cost of rent on car parks, the prices of meals bought outside home as well as the price of cars and the increase in costs of buildings management services.
22 August 2016
The Wynn Palace, the new hotel/casino complex operated by Wynn Resorts (Macau), opens to the public on Monday, at a time when gaming revenues have been falling for 26 consecutive months. The latest data indicates that gross casino gambling revenue in July recorded an annual decline of 4.5% to 17.774 billion patacas (US$2.221 billion).
19 August 2016
The number of foreign tourists to visit Macau this year is likely to grow by 10%, offsetting the drop in Chinese mainland tourist arrivals, the director of the Tourist Office said on Thursday. Helena Senna Fernandes said she expected the number of people visiting Macau this year would be similar to 2015, about 30.7 million people, which will be guaranteed by the increase in foreign tourists.
19 August 2016
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 investment projects for the park.
18 August 2016
The international assets of the Macau banking sector reached 1.167 trillion patacas (US$146.1 billion) at the end of the second quarter of 2016, according to the Macau Monetary Authority (AMCM). That amount was an increase of 3.5% over the first quarter of the year and a marginal decrease of 0.8% over the previous year, according to the statement released.
16 August 2016
Macau Chief Executive Chui Sai On travels to Portugal on an official visit from 10 to 15 September at the invitation of Portuguese President Marcelo Rebelo de Sousa, the government spokesman’s office announced on Monday. Chui Sai On will also meet with Portuguese Prime Minister António Costa. The talks with both will provide an opportunity to exchange ideas about matters of common interest and further consolidate bilateral cooperation.
15 August 2016
Xu Yingzhen of the Chinese Ministry of Commerce is since last week the new secretary-general of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Forum Macau), indicates an official announcement. Formerly the commercial counsellor of the ministry’s Department of American and Oceanian Affairs, Xu took office on Thursday as secretary-general of the Forum Macau Permanent Secretariat.