Economy

BNU CEO says existing transaction control mechanisms effective

BNU existing control mechanisms are effective, the bank's CEO assures, after documents leaked from the US federal agency FinCEN point to suspect financial transactions in Macao.

21 Sep, 2020

Macao to recover in 2021, reliant on Chinese tourism

Macao's economy will recover in 2021 from a 63% fall projected for this year with the Special Administrative Region's "fortunes tied to a recovery in Chinese tourism", the Economist Intelligence Unit (EIU) says.

21 Sep, 2020

Inflation in Aug logs lowest growth since Nov 2009

Macao’s composite consumer price index for last month rose a mere 0.03% year-on-year, the lowest growth recorded since November 2009.

21 Sep, 2020

Macao wants to strengthen cooperation with Fujian and Jiangxi

Chief Executive Ho Iat Seng during a meeting with Fujian Governor Wang Ning suggested three approaches for future cooperation between Macao and Fujian

19 Sep, 2020

Ho promotes Guizhou and Guangxi cooperation ties with Macao during Hainan visit

The Chief Executive met with officials from the provinces of Guizhou, Fujian and Jiangxi and the Guangxi Zhuang Autonomous Region during a working visit to Hainan to discuss how to foster closer ties on business, cultural affairs and also to exchange views on topics of mutual concern. 

19 Sep, 2020

Tak Chun CEO buys 20.65% stake in Macau Legend Development Limited

A firm controlled by Levo Chan Weng Lin, CEO of junket operator Tak Chun Group, has bought a 20.65% stake in Macau Legend Development Limited for about US$173 billion (MOP 1.38 billion), several local media outlets including Rádio Macau, GGRAsia and IAG reported today.

16 Sep, 2020

Macau Legend Development halts trading 

Macau Legend Development Limited's stocks trading has been halted from 14 September onwards.

14 Sep, 2020

Macau Grand Prix without F3 first time in 37 years (Update)

The Macau Grand Prix will this year take place without its signature Formula 3 race.

11 Sep, 2020

Gaming tax receipts falls 70% in Jan-Aug 

Macao government's receipts from gross gaming revenue taxes in the first eight months fell by 70.2% year-on-year

10 Sep, 2020

Government to cancel reclamation between Nobre de Carvalho & Amizade bridges

Macao asked Beijing to be allowed to drop one of the five reclamations  approved in 2009 between Nobre de Carvalho and Amizade bridges, according to Rádio Macau.

9 Sep, 2020

Secretary-General of Forum Macao to return to Beijing

Xu Yingzhen, secretary-general of the Forum Macao, will leave her position and return to Beijing

8 Sep, 2020

Macao gaming revenues fall by 94.5% in August  

Gross gaming revenues fall 94.5% year-on-year in August to MOP 1.33 billion (US$166.6 million).

1 Sep, 2020

Macao to launch promotion campaign to attract mainland Chinese visitors

The Macao government is launching a promotional campaign to attract more mainland visitors to the city from 1 September onwards.

30 Aug, 2020

Macao residents account for 53% of Macao hotel guests in July

Local residents accounted for 53 per cent of Macao hotels' guests last month.

29 Aug, 2020

General jobless rate rises to 2.7%

Macao’s general unemployment rate between May and July reached 2.7 per cent, up by 0.2 percentage points from the April-June survey period.

28 Aug, 2020

BOP records surplus of MOP 12.1 billion in 2019

Macao’s preliminary balance of payments (BOP) for last year recorded a surplus of MOP 12.1 billion.

24 Aug, 2020

2nd phase consumption cards inject MOP 790 million in economy

The second phase of the government’s consumption subsidy smartcard scheme injected around MOP 790 million into the local economy in 20 days.

24 Aug, 2020

Macao

Macao’s GDP dropped 67.8% in Q2

Macao's Gross Domestic Product (GDP) dropped by 67.8 per cent year-on-year in real terms in the second quarter of 2020, representing a greater decline compared to the previous quarter.

22 Aug, 2020

Hong Kong-Macao tax arrangement in force

Hong Kong announced that the Comprehensive Avoidance of Double Taxation Arrangement (CDTA) with Macao has entered into force

21 Aug, 2020

Government declines to predict Golden Week visitor numbers

The immigration authorities of Macao and Zhuhai declined to estimate the number of visitor arrivals through the new Hengqin Port during the upcoming Chinese National Day holiday in the first week of October, commonly known as Golden Week.

20 Aug, 2020