Economy

Trade between Macau and Taiwan increases in 2015

The President of the Macau Trade and Investment Promotion Institute (IPIM) said in Taipei that trade between Macau and Taiwan reached US$181 million in 2015, representing an increase of 1.3 percent over the previous year. Jackson Chang also recalled, at a seminar on the exchange between companies from Macau and Taiwan, that commercial flights between … Continue reading "Trade between Macau and Taiwan increases in 2015"

16 Mar, 2016

Macau’s trade deficit improves by 21 percent in January

Macau’s balance of trade deficit recorded a 21 percent improvement in January due to a contraction of 1.579 billion patacas in goods imports, reported the region’s Statistics and Census Bureau. In January Macau imported goods worth 6.956 billion patacas, against 9.493 billion patacas a year earlier, which together with an increase 1.5 percent in exports … Continue reading "Macau’s trade deficit improves by 21 percent in January"

2 Mar, 2016

MICE statistics of Macau shown increase of events in Q4

According to a Statistics and Census Service (DSEC) report, a total of 239 MICE events were held during the fourth quarter of 2015. This is an increase of six year-on-year. In the same period, the number of meetings and conferences increased by 13, while that of exhibitions decreased by seven. The total number of participants … Continue reading "MICE statistics of Macau shown increase of events in Q4"

29 Feb, 2016

Macau wants to attract more conventions and exhibitions from the Asia-Pacific region

The Macau Trade and Investment Promotion Institute (IPIM) attended the “Asia-Pacific Incentives and Meetings Expo 2016″ (AIME 2016) which ended Wednesday in Melbourne, Australia, in order to attract more conventions and exhibitions from the Asia-Pacific region to Macau. The mission organised by IPIM, which since January has been responsible for coordination and external promotion of … Continue reading "Macau wants to attract more conventions and exhibitions from the Asia-Pacific region"

26 Feb, 2016

Guangzhou’s development plan to pursue closer economic integration with Macau and Hong Kong

Last week, Beijing approved Guangzhou’s ambitious plans to become an international trade center and regional transportation hub by 2020, but urged Guangzhou authorities to pursue closer economic integration with Macau and Hong Kong. China’s State Council urged authorities to focus on improving infrastructure in the Pearl River Delta by integrating road, port, rail and air … Continue reading "Guangzhou’s development plan to pursue closer economic integration with Macau and Hong Kong"

23 Feb, 2016

Property prices in Macau drop 13 percent in 2015

The average price of residential units in 2015 dropped by 13 percent year-on-year to 86,826 patacas per square metre of usable area, the Statistics and Census Bureau (DSEC) announced on Wednesday. The average price per square metre of usable area of pre-sale residential units fell by 23.5 percent to 119,526 patacas, while the average price … Continue reading "Property prices in Macau drop 13 percent in 2015"

18 Feb, 2016

Macau reserves swell to 345 billion patacas in 2015

The financial reserves and other asset values of the Macau Special Administrative Region (MSAR) rose by 2.4 billion patacas to 345 billion patacas last year, the Macau Monetary Authority (AMCM) announced on Wednesday. According to the announcement published in the Official Gazette (BO), the MSAR’s “basic reserves” amounted to 131.88 billion patacas and its “extraordinary … Continue reading "Macau reserves swell to 345 billion patacas in 2015"

18 Feb, 2016

Beijing backs Macau as yuan hub

The central government will keep supporting Macau to become a yuan clearing platform between China and the Portuguese-speaking bloc, Yao Jian, deputy director of the Central People’s Government Liaison Office in Macau, said on Wednesday. Yao made the remarks when addressing a seminar jointly hosted by the Bank of China Macau Branch (BOC Macau) and … Continue reading "Beijing backs Macau as yuan hub"

21 Jan, 2016

Agreement to advance chinese medicine industry from Macau inked

The Secretary for Economy and Finance, Lionel Leong, was in Beijing last week to witness the signing of a memorandum of understanding (MOU) between the State Administration of Traditional Chinese Medicine (TCM) and the Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development. The secretary said that Macau intends to use the ties forged with Lusophone … Continue reading "Agreement to advance chinese medicine industry from Macau inked"

20 Jan, 2016

Agency hopes housing prices in Macau won’t drop over 20 pct this year

Housing prices dropped 22 percent last year and without anything expected to stimulate the local economy, the local office of Hong Kong estate agency Centaline Property said that it hoped the drop in property prices won’t exceed 20 percent this year. Centaline (Macau) Property Agency Director Jacky Shek Pou Tak and Senior Regional Sales Director … Continue reading "Agency hopes housing prices in Macau won’t drop over 20 pct this year"

15 Jan, 2016

Macau International Airport received record of 5.8 million passengers in 2015

Driven by the tourism market of Southeast and North Asia, Macau International Airport (MIA) achieved record-breaking passenger volume in 2015. During the year, MIA passenger count surpassed 5.8 million, representing an annual increase of 6.4 per cent, which is a new record for MIA. Meanwhile, the aircraft movement reached over 55,000 and recorded a 6 … Continue reading "Macau International Airport received record of 5.8 million passengers in 2015"

8 Jan, 2016

Macau imports fell while exports grew during November

Information from the Statistics and Census Service indicated that total imports of goods for November 2015 fell 17.4 percent year-on-year, while total exports of goods are up 6 percent for the same period. Excluding the import and export of services, the goods trade deficit widened to MOP68.02 billion for the first eleven months of 2015. … Continue reading "Macau imports fell while exports grew during November"

31 Dec, 2015

Banker predicts possible rate hike in Macau in 2nd half of 2016

Luso International Banking Assistant General Manager Chan Wai Shing said on Tuesday that he believed local lenders’ earliest interest rate hike would possibly happen in the latter half of next year. Chan made the remarks on the sidelines of the launching ceremony for the bank’s three-currency Unionpay credit card at the Macau Tower, involving the … Continue reading "Banker predicts possible rate hike in Macau in 2nd half of 2016"

30 Dec, 2015

Macau’s imported workers rise 9 percent to over 182,000

Macau had 182,246 non-resident workers at the end of last month, up 9 percent year-on-year, the government’s Human Resources Office (GRH) announced this week. Some 70.1 percent of the workers were imported from the mainland (116,941), Hong Kong (9,144) and Taiwan (1,636). Other major segments came from a number of foreign countries, namely the Philippines … Continue reading "Macau’s imported workers rise 9 percent to over 182,000"

30 Dec, 2015

Annual inflation in Macau slows in November to 3.77 percent

Prices in Macau registered annual growth of 3.77 percent in November, due to the increase in housing rental and charges for meals bought outside the home, reported the Statistics and Census Bureau. The Bureau also said the annual change in prices in November was significantly lower than that recorded a month earlier, in October, when … Continue reading "Annual inflation in Macau slows in November to 3.77 percent"

29 Dec, 2015

Macau Trade and Investment Promotion Institute to open offices in Lisbon & Sao Paulo in Q2 or Q3

Macau Trade and Investment Promotion Institute (IPIM) Executive Director Gloria Batalha Ung said that in order to provide better assistance to local enterprises, small- and medium-sized enterprises (SMEs) in particular, to develop their business ties with the Portuguese-speaking countries, the institute planned to set up representative offices in Lisbon and Sao Paulo. Ung also said … Continue reading "Macau Trade and Investment Promotion Institute to open offices in Lisbon & Sao Paulo in Q2 or Q3"

15 Dec, 2015

Macau’s economy to resume growth in 2017

Macau’s economy will resume growth in 2017, at a rate of 4.6 percent, after ending 2015 with a contraction of 23.0 percent and continuing in negative territory in 2016, with -2.7 percent, according with the most recent forecasts from the Economist Intelligence Unit (EIU). Gross fixed capital formation, or investment, which in 2014 recorded exceptional … Continue reading "Macau’s economy to resume growth in 2017"

15 Dec, 2015

Mainland-Macau trade up 23 per cent in first 10 months of 2015

According to figures from the Ministry of Commerce, trade between mainland China and Macau has increased by 32 percent year on year to reach USD3.95 billion for the first ten months of 2015. The mainland’s exports to Macau rose by 34.6 percent year on year to USD3.79 billion during the January–October period. Macau’s exports to … Continue reading "Mainland-Macau trade up 23 per cent in first 10 months of 2015"

14 Dec, 2015

Macau casinos don’t use Alipay said Leong Vai Tac

Secretary for Economy and Finance Lionel Leong Vai Tac said that no casinos are using Alipay, a third-party on-line payment platform affiliated to Alibaba Group. The policy secretary also said the government would ensure that all transactions through Alipay be dealt with in line with official regulations. Leong made the remarks on the sidelines of … Continue reading "Macau casinos don’t use Alipay said Leong Vai Tac"

14 Dec, 2015

Construction budget for Macau Pac On Terminal on leash

The construction budget for the new Pac On Terminal in Taipa is to be controlled at below MOP3.8 billion, the head of the Infrastructure Development Office, Chau Vai Man told the Assembly. This updated price tag quoted by the Office has ballooned compared to the total construction of MOP 3.28 billion estimated in 2014. Chau … Continue reading "Construction budget for Macau Pac On Terminal on leash"

11 Dec, 2015