Older citizens will be first in line, children last and regular adults in the middle in this year’s MOP 7 billion wealth-sharing scheme.
Cash benefits are part of a major stimulus package that includes tax relief, consumption vouchers, more vocational training and help for the elderly.
For the whole year of 2020, Macao’s GDP declined by 56.3 per cent in real terms while domestic demand shrank by 10.3 per cent year-on-year.
US think-tank lumps Macao and Hong Kong in with China, prompting allegations of “political bias”.
Rates for both the pataca and the Hong Kong dollar fell in 2020, mirroring an overall drop in the funding costs of local banking.
Interest of MOP 31 billion is offset by MOP 46 billion outlay to balance the budget shortfall caused by the ravages of Covid-19.
Massive investment in road, rail, air and sea links includes faster access to GBA neighbours Hong Kong and Macao.
The decline is attributed to lower charges for package tours and telecommunications services, gasoline, fresh pork, clothing and footwear.
2.7 per cent fall means reserves are now 11 times the local currency in circulation.
Homes are cheaper, but office space is more expensive, statistics bureau says.
Bank of China’s 2020 profits represent a 3 per cent growth year-on-year when compared to 2019.
But city needs to attract foreign investment says Institute of Management President Samuel Tong Kai Chung.
The bureau will move from the Secretariat for Social Affairs and Culture to the Secretariat for Economy and Finance.
Residents and businesses could be in line for a third round of financial support measures if something “unexpected” happens.
Guangdong province, in South China, will accelerate the development of the intercity railway network in the Guangdong-Hong Kong-Macao Greater Bay Area to help boost the local economy.
Macao’s consumer price inflation rate amounted to 0.81 per cent last year, one of the lowest in recent years.
The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year.
The Macao government to launch new integrated payment machine “Simple Pay” in the first quarter of the year.
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.
The Legislative Assembly passed the government’s third 2020 budget amendment bill.
A knowledgeable source indicated that the value of the capital could be increased to more than MOP 2 billion.
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.
Macao’s overall residential property price index for August – October decreased by 0.5% over the previous period (July – September 2020) to 267.6.
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.