Economy

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

Price of residential flats drops 1.1% in Q3

A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter, while the total value of transactions rose by 1.6 per cent to MOP 14.94 billion (US$1.87 billion), the Statistics and Census Bureau (DSEC) announced on Tuesday. … Continue reading "Price of residential flats drops 1.1% in Q3"

18 Nov, 2020

Forex reserves reach MOP 187 billion

Macao’s foreign exchange reserves amounted to MOP 187.60 billion (US$23.50 billion) at the end of October 2020, according to preliminary data released by the Monetary Authority of Macao (AMCM) on Monday.

17 Nov, 2020

Macao to bolster top-down design for sci-tech innovation (Update)

Macao Chief Executive Ho Iat Seng said today the government would further strengthen “top-down design” regarding innovation in the field of science and technology (sci-tech).

10 Nov, 2020

Carrie Lam to arrive for two-day visit Monday

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor will arrive in Macao Monday afternoon for a two-day working visit.

8 Nov, 2020

Wynn Palace revenues fall 97.4% in Q3

The operating revenues of Wynn Palace in Cotai fell 97.4% year-on-year to US$15.7 million (MOP 125.3 million) in the third quarter of this year

7 Nov, 2020

Macao casino GGR rises 228.8% in October

Macao casinos' gross gaming revenue rose 228.8% from MOP 2.21 billion in September to MOP 7.27 billion (US$910.9 million) last month.

1 Nov, 2020

Government expects casinos to earn US$16.25 billion in 2021

The Macao government expects the local casino industry to generate MOP 130 billion (US$16.25 billion) in gross gaming revenue next year.

31 Oct, 2020