The Legislative Assembly on Tuesday passed unanimously a government-initiated bill which allows the government to take on debt of up to MOP 2.2 billion (US$275.6 million) for its two loan guarantee schemes for local small- and medium-sized enterprises (SMEs).
Business
The Legislative Assembly’s (AL) Follow-up Committee for Public Finance Affairs will continue to monitor the government’s immovable property, especially when the government is running a budget deficit this year.
Macao’s broad money supply rose 3.7% month-on-month in June with a stable share of patacas, the Macao Monetary Authority (AMCM) said in a statement on Tuesday.
A review of the Greater Bay Area in southern China has identified shortcomings that have slowed progress on Beijing’s plan for the region to become a hi-tech hub, including not enough research facilities and poor coordination and flow of talent and capital between the cities.
China will invest CNY 474.1 billion (US$67.9 billion) to improve rail connection in the Greater Bay Area, building 775 km (480 miles) of intercity railway and five transport hubs, according to a plan approved by the National Development and Reform Commission.
Macau’s gross gaming revenue fell 94.5% year-on-year to MOP 1.344 billion (US$168 million) in July.
MGM China’s net revenues fell 95 per cent year-on-year to US$33 million (MOP 261 million) in the second quarter of this year, the Hong Kong-listed US gaming operator said in a statement today.
Secretary for Economy and Finance Lei Wai Nong told reporters on Wednesday that the government has already spent MOP 10 billion on alleviating residents’ burden of COVID-19.
The Macao government opened today a public tender for the main construction of the Seac Pai Van Line of the light rail.