Economy

Integrated payment machine ‘Simple Pay’ to be launched in Q1

The Macao government to launch new integrated payment machine “Simple Pay” in the first quarter of the year.

8 Jan, 2021

Macao CES 2021

Macao to host Las Vegas’ Consumer Electronics Show alternative in 2021

Macao is set to host a tech fair next year to match the famed International Consumer Electronics Show (CES) in Las Vegas, the US online newspaper TechCrunch reported this week. 

24 Dec, 2020

Macao's expenditure 2020

MOP 8.15 billion allocated to cover Macao’s expenditure for the remainder of 2020

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

10 Dec, 2020

AirMacau

Macao government and Air China increase Air Macau capital

A knowledgeable source indicated that the value of the capital could be increased to more than MOP 2 billion.

9 Dec, 2020

Mainland China financial growth generating opportunities in Macao – Well Link Bank CEO

The growth of the financial sector in Mainland China will create opportunities for the banking sector in Macau as the city develops into a financial platform.

8 Dec, 2020

Residential property price index dips 0.5%

Macao’s overall residential property price index for August – October decreased by 0.5% over the previous period (July – September 2020) to 267.6.

8 Dec, 2020

Macao expects more tourists between Christmas & CNY

Christmas and the Chinese New Year (CNY) are the peak holiday seasons in Macao, therefore the city can expect more visitors from the mainland during that time, Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday.

3 Dec, 2020

Macao gaming receipts fall 70.5% in November

Macao's gross gaming revenue (GGR) fell by 70.9% year-on-year to MOP 6.75 billion (US$843 million) in November.

1 Dec, 2020

Macao’s hotels register 57,000 staycation guests in October 

Macao's 120 hotels and guesthouses recorded 57,000 staycation guests in October, a year-on-year increase of 13.6%.

1 Dec, 2020

Secretary for Economy and Finance Lei Wai Nong

Next year’s wealth-sharing handout to be in cash again (Update)

Secretary for Economy and Finance Lei Wai Nong has announced that the government has decided to give residents their annual “wealth-sharing” handout in cash next year – as in previous years.

30 Nov, 2020

Macao

GDP set to fall over 50%

Secretary for Economy and Finance Lei Wai Nong said that in its latest estimate, the government expected Macao’s gross domestic product (GDP) to fall around 56% this year, adding that while the estimate “will be constantly adjusted” the government predicted that this year’s economy would contract over 50%.

30 Nov, 2020

COVID-19 prevention & economic recovery

Secretary for Economy and Finance Lei Wai Nong said during his introductory speech about his portfolio’s policy guidelines for next year on Friday that he expected the government’s COVID-19 prevention and control measures to be “normalised” next year, adding that protecting residents’ lives and health would remain the government’s top priority.

30 Nov, 2020

Hengqin Island

Local government keeps open mind on possibility of Macao securities exchange in Hengqin

Addressing Friday’s Q&A session in the Legislative Assembly (AL) about his portfolio’s policy guidelines for next year, Secretary for Economy and Finance Lei Wai Nong said that the local government has not yet carried out an in-depth study on the possibility of setting up a Macao securities exchange in Hengqin, but it would keep an open mind on the possibility.

30 Nov, 2020

Macao’s 2021 wealth-sharing handout once again to be paid in cash

Macao's annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers. 

28 Nov, 2020

Tourism and sports important components for Macao  

Secretary for Economy and Finance Lei Wai Nong said that "tourism+sports" was a new way to cater for the needs of the urban middle class. 

28 Nov, 2020

Macao residents’ jobless rate stays at 4.1% 

Macao's general unemployment rate and local residents' jobless rate of local residents for August-October remained unchanged at 2.9% and 4.1%.

27 Nov, 2020

Exports, imports fall in Jan-Oct, cosmetics imports rise 148% 

Macao's exports and imports in the first 10 months of the year fell by 18.1% and 7.1% to MOP 8.6 billion (US$1.08 billion) and MOP 67.4 billion respectively.

27 Nov, 2020

2nd phase of consumption cards injects MOP 2.9 billion into local market

Until Tuesday, the second phase of the government’s consumption subsidy smartcard scheme had injected around MOP 2.9 billion to into the local market, an Economic Affairs Bureau (DSE) statement noted on Thursday.

27 Nov, 2020

Development of financial services platform in Macao demands specialised staff

The development of a financial services platform in Macao, able to offer new services such as credit insurance, will demand "many" specialised staff and training, according to economist Rodrigo Brum.

23 Nov, 2020

Macao’s GDP drops 63.8% in Q3 

Macao's gross domestic product (GDP) dropped by 63.8% year-on-year in real terms in the third quarter of this year.

20 Nov, 2020