Latest
Residential property prices drop slightly
Homes are cheaper, but office space is more expensive, statistics bureau says.
BOC Macau hits profits of MOP 5.6 billion in 2020
Bank of China’s 2020 profits represent a 3 per cent growth year-on-year when compared to 2019.
“The worst is over” – glimmer of hope for Macao’s economy
But city needs to attract foreign investment says Institute of Management President Samuel Tong Kai Chung.
Macao Tourism Office moves to economy portfolio today
The bureau will move from the Secretariat for Social Affairs and Culture to the Secretariat for Economy and Finance.
Finance chief eyes handout for Macao residents
Residents and businesses could be in line for a third round of financial support measures if something “unexpected” happens.
Guangdong to speed up intercity rail development in the Greater Bay Area
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 inflation falls to 0.81% in 2020
Macao’s consumer price inflation rate amounted to 0.81 per cent last year, one of the lowest in recent years.
Macao’s financial reserves reach MOP 620 billion
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.
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.
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.
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.
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.
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.
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.
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.
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.
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%.
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.
GDP set to fall over 50%
In the government’s latest estimate, Macao’s gross domestic product (GDP) is expected to fall around 56% this year, adding that while the estimate “will be constantly adjusted” the government predicted this year’s economy would contract over 50%.
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.
Local government keeps open mind on possibility of Macao securities exchange in Hengqin
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.
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.
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.
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%.
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.