The People’s Bank of China has inked a currency swap deal with the Macau Monetary Authority.
Business
Macau casinos gross gaming revenue (GGR) fell 8.5 percent year-on-year in November, according to data released today by the Gaming Inspection and Coordination Bureau (DICJ).
The first batch of rough diamonds subject to supervision and control by the Kimberley Process Certification Scheme arrived in Macau on Thursday.
The local government will be exempted from income tax when investing in the mainland, once a new deal under the Mainland-Macau agreement to avoid double taxation comes into effect.
The government will launch a public consultation in the middle of next year on the possible establishment of a company tasked with managing the local version of a “sovereign wealth fund”.
The value of Macau’s retail sales dipped by 0.5% year-on-year to 18.06 billion patacas, while the sales volume dropped by 0.7%.
Macau gaming and junket businesses produced 50.5% of Macau gross domestic product (GDP) at producers’ prices, based on the production approach calculation.
Lawmakers on Monday passed unanimously the outline of the outgoing government’s 2020 budget bill, and will now be reviewed in detail by one of the standing committees of the legislature.
Macau’s recession deepened in the third quarter when its gross domestic product shrank by 4.5% year-on-year.