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Macau government wants to raise social security dues

Macau government wants to raise social security dues

Social Security Fund (FSS) President Ip Peng Kin said on Wednesday that the government was proposing to increase the social security dues paid by the city’s employers and employees from the current 45 patacas to 90 patacas a month. Ip also said that once the proposed amount is agreed upon in the government-appointed Standing Council […]
Fresh meat prices to remain stable: wholesalers

Fresh meat prices to remain stable: wholesalers

Prices of fresh meat and produce will remain stable this year and there won’t be a steep price increase in the run-up to next month’s Chinese New Year, representatives of Nam Kwong Commercial Company and Nam Yue Food Stuffs & Aquatic Company said yesterday. All of Macau’s fresh meat and produce is imported by the […]
Handbag imports drop 25 percent

Handbag imports drop 25 percent

Macau’s import of handbags and wallets in November 2014 fell 25 percent year-on-year to 242 million patacas, the Statistics and Census Bureau (DSEC) has announced. Handbags and wallets are popular with shoppers from the mainland. In the first nine months of last year, the import of handbags and wallets dropped six percent. Gold jewelry imports […]
Secretary vows to minimise impact of economic fluctuations

Secretary vows to minimise impact of economic fluctuations

Secretary for Economy and Finance Lionel Leong Vai Tac said in a statement on the 4th of January that the government would try to minimise any adverse impact resulting from economic fluctuations on the market and residents’ livelihoods. The newly-appointed policy secretary also said that to diversify the city’s economy the government would be “proactive […]
Guangdong free-trade zone to forge links with Hong Kong and Macau

Guangdong free-trade zone to forge links with Hong Kong and Macau

A free-trade zone destined for Guangdong will play a major role in deepening cooperation with Hong Kong and Macau, Xinhua news agency reported Monday. The State Council gave the go-ahead earlier this month for Guangdong, Tianjin and Fujian to set up free-trade zones in their jurisdictions, a little over a year after it gave green […]
Secretary Leong Vai Tac looks at Macau’s economy with caution and optimism

Secretary Leong Vai Tac looks at Macau’s economy with caution and optimism

The Secretary for Economy and Finance Leong Vai Tac has said that his cabinet is looking at Macau’s economic development in the coming years with both caution and optimism. He believes the city’s economy will continue to develop favorably, but recalled the central government’s advice that Macau’s top officials should be prepared to face the […]
Inflation increases 6.12%

Inflation increases 6.12%

Consumer prices went up by 6.12 percent year-on year in November. The increase in the Consumer Price Index is the same as the one recorded in October. The Statistics and Census Service says the growth was once again driven by higher residential rentals and dearer charges for eating out. For the 12 months ended November […]
Macau, mainland further liberalise trade in services

Macau, mainland further liberalise trade in services

Macau and the central government Thursday signed an agreement on the almost complete liberalisation of trade in services between Macau and Guangdong province. Both sides inked the deal within the framework of the Mainland and Macau Closer Economic Partnership Arrangement (CEPA) set up in 2003. Thursday’s pact was signed by Secretary for Economy and Finance […]
EIU forecasts Macau’s economy to shrink 4.0 pct in 2015

EIU forecasts Macau’s economy to shrink 4.0 pct in 2015

The Macau economy is expected to contract by 4.0 percent in 2015 and return to positive growth in 2016 with a rate of 8.0 percent, after ending 2014 with growth of just 0.7 percent, according to forecasts from the Economist Intelligence Unit (EIU). The EIU analysts explain this year’s low economic growth and the fall […]
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