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Macau Reserves to be transferred to China Development Fund

Macau Reserves to be transferred to China Development Fund

A portion of the MSAR’s financial reserves could be transferred to mainland China for investment purposes. The government intends to introduce the measure in order to boost bilateral cooperation. It also expects the return of the investment to potentially reach 4 percent, which would be higher than the 2 percent recorded last year but still […]
Leong confident about liberalisation of trade in Macau services

Leong confident about liberalisation of trade in Macau services

Secretary for Economy and Finance Lionel Leong Vai Tac said on Wednesday the government aimed to meet its target for the basic liberalisation of trade in services with Guangdong by the end of this year. The policy secretary made the pledge in a speech at a one-day seminar on the implementation of the Closer Economic […]
Macau Inflation rises 5.3 percent in February

Macau Inflation rises 5.3 percent in February

Macau’s composite consumer price index (CPI) rose 5.3 percent year-on-year last month, the Statistics and Census Bureau (DSEC) announced on Monday. A DSEC statement attributed the steep rise to rising residential rents and the higher cost of eating out, as well as higher charges for package tours during the Chinese New Year holiday. According to […]
Banker says Macau is a ‘natural free trade zone’

Banker says Macau is a ‘natural free trade zone’

Macau Association of Banks (ABM) Chairman Ip Sio Kai suggested on Sunday that the government should focus on turning Macau into an international financial centre. Ip made the proposal during a forum hosted by the Collective Wisdom Policy Centre at the Bank of China Building in Avenida Dr. Mario Soares. The forum gathered participants from […]
Macau Fund proposes raising pensions, subsidies in July

Macau Fund proposes raising pensions, subsidies in July

Social Security Fund (FSS) President Ip Peng Kin announced on Monday that the fund is proposing an increase in various pensions and subsidies effective in July. According to Ip, the fund proposed on Monday that the old-age pension and disability pension be raised by 5.35 percent, from 3,180 to 3,350 patacas per month, while the […]
Macau government to introduce minimum wage by 2018

Macau government to introduce minimum wage by 2018

The government intends to introduce a universal minimum wage for all workers, following its initial introduction for cleaning and security personnel working in property management companies. “We intend to implement the minimum wage for those two sectors this year. But our stand on this is implementing a minimum wage for all workers within three years,” […]
Macau’s GDP shrinks 0.4 percent in 2014 – down 17 percent in Q4

Macau’s GDP shrinks 0.4 percent in 2014 – down 17 percent in Q4

Macau’s gross domestic product (GDP) fell 0.4 percent in real terms last year, the first annual drop since the establishment of the Macau Special Administrative Region (MSAR) in 1999, according to figures released by the Statistics and Census Bureau (DSEC) on Friday. In the fourth quarter of last year, GDP was down 17.2 percent year-on-year […]
Macau’s jobless rate stays at 1.7 percent

Macau’s jobless rate stays at 1.7 percent

The city’s officially estimated unemployment rate remained unchanged at 1.7 percent in the November 2014 to January 2015 survey period compared to the October-December 2013 period, the Statistics and Census Bureau (DSEC) announced on Tuesday. Macau’s total labour force reached 404,500 in the latest survey period. Total employment was 397,800, while 6,700 people were unemployed. […]
Macau’s gold jewellery imports fall 56 percent

Macau’s gold jewellery imports fall 56 percent

Macau’s imports of gold jewellery in January fell 56.5 percent year-on-year to 641 million patacas, the Statistics and Census Bureau (DSEC) announced on Tuesday. Imports of handbags and wallets dropped 35.3 percent to 265 million patacas. Imports of watches dropped six percent to 665 million patacas. Gold jewellery, handbags and watches are popular with shoppers […]
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