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Complete "Macao Tourism Industry Development Master Plan” in 2017 Begin on application for designation as a City of Gastronomy Expand diversity of tourism products and source markets Strengthen mechanism for multipartite cooperation
Friday, 20 January 2017 00:00

Source : Macao Government Tourism Office

Macao Government Tourism Office (MGTO) held its Annual Press Conference today (18 January) and announced that Macao’s total visitor arrivals in 2016 hit a record of 30 million and more, slightly up by 0.8% from a year earlier. Regardless of the minor increase in total visitor arrivals last year, the sum of overnight-stay visitors outweighed that of same-day visitors for the first time over the last ten years, registering a year-on-year increase of nearly 10%. Looking forward in 2017, MGTO will complete its formulation of the "Macao Tourism Industry Development Master Plan” and carry out different new and ongoing projects to ensure diversified and sustainable development of Macao’s tourism industry, in parallel with the tourism development goals in the Five-Year Development Plan formulated by the SAR Government and its progress of building Macao into a World Centre of Tourism and Leisure.

During the press conference, MGTO Director Maria Helena de Senna Fernandes presented a summary of last year’s tourism performance in Macao and an introduction of MGTO’s work plan in 2017. Over 400 participants were present in the conference including members of the travel trade and about 80 members of the press in Macao and from the Mainland, Hong Kong and neighboring regions, comprising foreign correspondents based in Macao and Hong Kong as well.

Macao tourism situation in 2016 (preliminary statistics)

In 2016, Macao’s economy remained in a period of adjustment. Nevertheless, the preliminary data show that international and total visitor arrivals in Macao both registered a year-on-year increase, so did the sum of visitors from the Greater China markets. International visitor arrivals were up by 8%.

Macao’s total visitor arrivals slightly went up by 0.8% from 2015 to a record of 30.95 million in 2016. Close to 28 million visitors came from the Greater China markets, a slight increase of 0.1%, whereas international visitor arrivals surged by 7.9%.

The Mainland, Hong Kong and Taiwan remained the top three visitor markets to Macao. Despite the slight decline in the number of Hong Kong visitors, both the Mainland and Taiwan markets registered growth. Macao welcomed over 20 million Mainland visitors last year, up by 0.2%, with 44% of them coming from Guangdong Province. As for independent visitors from the Mainland, the record reached nearly 9.56 million, accounting for 46% of Mainland visitor arrivals. An increase of 8.8% was recorded for the Taiwan market, whereas the sum of Hong Kong visitors dropped slightly by 1.8%.

With regard to the international markets, Korea still ranked the first among the rest, contributing over 660,000 visitors to Macao last year, with a robust growth of nearly 20%. Southeast Asian markets also saw a good performance. The sum of visitors from Thailand marked the largest growth of over 30% among the top ten source markets. The numbers of visitors from Indonesia and the Philippines rose by 11.7% and 3.7% respectively, whereas Japanese visitor arrivals surged by 6.5%. There was also a growth of 4.6% in the number of visitors from the United States, the only long-haul source market among the top ten.

Overnight-stay visitor arrivals outweighed same-day visitors for seven consecutive months

The preliminary data show that the total of overnight-stay visitors in 2016 exceeded 15.7 million, up by 9.8%, accounting for 50.7% of total visitor arrivals. For the first time in the last ten years, overnight-stay visitor arrivals exceeded same-day visitor arrivals last year, a situation lasting for seven consecutive months since last June. Throughout the year, the average length of stay of overnight-stay visitors stood at 2.1 days and that of visitors in general was 1.2 days (increase of 0.1 day).

The preliminary figures indicate that the total of hotel establishment overnight guests increased by 14% to a record of around 12 million last year. Affected mainly by a decline in gaming expense, the total visitor expenditure between January and September 2016 amounted to 21.6 billion US dollars, a period-on-period decrease of 7.1%.

In terms of the hotel sector, the average occupancy rate of hotel establishments in Macao in 2016 ranged from 82% to 84%, a year-on-year increase of 1 to 3 percentage points. The average room rate of three to five star hotels last year was 161.1 US dollars, down by 12.7%.

Up to the end of 2016, there are 113 hotel establishments in Macao supplying a total of 37,634 rooms, a year-on-year increase of nearly 14%. Among them, there are 47 establishments of budget accommodation with a total of 1,513 rooms. In 2016, MGTO imposed provisional measures for the first time to shut down a five-star hotel which had committed serious administrative irregularities.

MGTO's Tourist Information counters handled over 1.45 million visitor inquiries, material requests and suggestions last year. With regard to measures against illegal accommodation, the Office carried out 1,082 apartment inspections and sealed 164 apartments throughout the year, while the interdepartmental task force carried out 415 joint actions. The Office also carried out other inspections including over 2,300 inspections on business establishments and over 1,400 inspections at ports and tourist spots.

Service launch and optimization

In 2016, MGTO launched the online news database "Macao Tourism News plus" (Beta version). The platform currently provides over 10,000 data records which include more than 4,000 photos, enabling media to obtain press materials of MGTO and its representatives conveniently. MGTO also optimized the features of “Macao Tourism Data plus” by introducing new statistical indicators on hotel industry figures, subscription service, user manual and so on, to enhance dissemination of tourism statistical data. In addition, the Office launched the “Group Tour Online Complaint System” to further facilitate visitors.

In 2016, MGTO extended the scope of its “Quality Tourism Services Accreditation Scheme” (QTSAS) to cover the sector of travel agencies as well and received applications from a total of 31 travel agencies. On the other hand, the number of participants joining industry training programs and workshops supported and facilitated by MGTO exceeded 1,200 in 2016. In terms of manpower, the Office recruited 11 new staff members in 2016, adding up to a total of 406 current employees.

Forging ahead with four major goals in 2017

Develop a diversity of tourism products, evaluate event effectiveness and initiate new projects: MGTO will complete formulation of "Macao Tourism Industry Development Master Plan” in 2017, which will cover an array of topics including tourism products, destination marketing, tourism carrying capacity and more. Following that, MGTO will carry out different strategies and measures in parallel with the major goals set in the Master Plan. Besides, MGTO will conduct a feasibility study on the cultural tourism project in Ka Ho Village of Our Lady; Make progress in the remodeling project of the Tourism Activities Centre into the Macao Grand Prix Museum; begin preparation work for relocation of the Wine Museum to Coloane; support industry partners to operate maritime tours around Macao Peninsula, Taipa and Coloane; continue to forge Macao into a City of Events by once again organizing and supporting various events and activities, etc.

Enhance industry service quality and optimize industry incentive system: coordinate with training institutes to provide industry training programs; continue to develop an online learning platform and support industry professionals to keep upgrading their skills through training; continue to carry out the “Quality Tourism Services Accreditation Scheme” and optimize the current assessment and incentive systems; conduct regular inspections at tourist attractions, ports of entry and MGTO-licensed establishments; provide timely assistance for tour groups and promptly mediate tourism disputes; advocate rational consumption; revise tourism-related laws; make continuous efforts to combat illegal accommodation, etc.

Unleash synergistic effects and enhance destination promotion: continue to unleash synergistic effects through collaboration with relevant departments; participate and foster development of leisure tourism landmarks including “Anim’Arte Nam Van”, etc; continue to develop smart tourism and leverage means of technology such as popular websites, mobile applications, social media platforms and search engines to promote Macao; partner with well-established online platforms and bloggers to further promote the destination on the Internet; renew the promotional video “Experience Macao Your Own Style” and produce a new promotional video under the sub-theme “Events”; expand the diversity of international source markets and make stronger promotional efforts in mid-haul markets such as Malaysia, Indonesia and so forth to attract high-value visitors to Macao and extend visitors’ length of stay; continue to construct the platform of Macao Tourism News plus by building up the cross-sector tourism news database step by step and compiling local tourism press materials provided by different sources, with the plan to invite members of the local travel trade to upload press materials to the “Macao Tourism News plus” as well.

Strengthen multilateral cooperation mechanism, actively participate in international organizations: attract organizers to choose Macao as the destination for large-scale international tourism conventions and exhibitions (The Pacific Asia Travel Association (PATA) Travel Mart 2017 will be held in Macao on 13 – 15 September); apply to become a UNESCO Creative Cities Network member in the field of gastronomy; organize the International Gastronomy Forum to promote sustainable development of the local gastronomic cultural industry; facilitate and promote cooperation with Portuguese-speaking countries in various aspects of the tourism field.

In addition, MGTO will engage in the work of the “Joint Working Committee on Tourism to Support Macao's Aspirations to Build a World Centre of Tourism and Leisure”; strengthen cooperation across Pan-Pearl River Delta, between Hong Kong - Macao, Guangdong - Hong Kong - Macao, Guangdong - Macao and Fujian - Macao while capitalizing on the opportunities brought by the Belt and Road Initiative to promote multi-destination tourism products and follow up with the tasks in the tourism field set in the "Guangdong-Macao Cooperation Framework Agreement"; discuss development of diversified travel itineraries with partner tourism entities in the region; organize promotional activities for multi-destination travel across the Mainland and overseas while expanding the geographic scope of partnership for multi-destination travel; actively join hands with other members of the “China Maritime Silk Road Tourism Promotion Alliance” to develop new tourism products and further promote the destination, etc.

The international event of CEFCO will be held on January 12, 2017 in Macao Connecting the global MICE industry to have a profound experience in Macao
Tuesday, 10 January 2017 00:00

Source : Macao Trade and Investment Promotion Institute

The 13th China Expo Forum for International Cooperation (CEFCO 2017) will be held from January 12 to 14 at the Venetian Macao-Resort-Hotel, under the theme of Embracing Change, expecting to attract nearly 800 elites of global Meeting, Incentive, Convention, and Exhibition (MICE) industry and business men to attend. This year’s Forum emphasizes the invitation to the representatives from Portuguese-speaking Countries, in order to highlight Macao’s role as the cooperation platform between China and Portuguese-speaking Countries.

CEFCO 2017 is co-organized by the China Council for the Promotion of International Trade (CCPIT), the Global Association of the Exhibition Industry (UFI), the International Association of Exhibitions and Events (IAEE), and the Society of Independent Show Organizers (SISO), and jointly coordinated by the China Chamber of International Commerce (CCOIC) and the Macao Trade and Investment Promotion Institute (IPIM). To deepen the media’s understanding of this year’s Forum, following the press conference held in Beijing on December 12, 2016, another press conference was held in Macao today (January 10, 2017), and IPIM Executive Director, Irene V. K. Lau and Deputy Director of the Department of Exposition of the CCOIC, Wang Rui introduced the latest preparations of CEFCO 2017.

According to Irene V. K. Lau, she was very pleased that Macao became the first region besides Mainland China to hold the Forum, and she believed that this Forum will serve as affirmation to the development of Macao MICE industry and promote the communication and cooperation between Macao’s exhibition companies and their overseas and domestic peers, so that professionals of the international convention and exhibition industry could better understand the advantages of Macao´s MICE market, including policy advantages. As a matter of fact, the 13th Five-Year Plan of the People’s Republic of China continues to support Macao to actively develop industries such as convention, exhibition and trade. The Macao SAR Government provides a series of support to the organizers and participants in trade fairs. In terms of advantages in hardware and software, Macao offers over 190 thousand square meters of large-scale international convention and exhibition venues as well as hotel and catering facilities. The scale and professional level of the convention and exhibition professionals also continues to rise, providing strong support for promoting the internationalization and professional development of Macao´s MICE industry. In turn, Wang Rui believed that Macau, through this Forum, could demonstrate to the global MICE sector its unique charm.

During CEFCO 2017, “Global CEO Roundtable” will be held for the first time. Besides, there will be 3 plenary sessions, 4 sub-group meetings and 4 thematic lectures. On the sessions and meetings, important topics such as “Transformation of Exhibition Industry assists the Global Economic Recovery”, “Approach to Internationalization of Exhibition Companies”, “New Direction of Global MICE Industry under the ‘Belt and Road’ Initiative”, “Change in the Government’s role in Promoting the Development of the Exhibition Industry” and “Innovative Road of Macao MICE Industry” will be discussed. On the thematic lectures, hot innovations such as Cloud platforms and VR technology will be discussed. From the perspectives of government, enterprises and associations, it will be discussed how the global exhibition industry should seize the opportunity, embrace the challenge, and realize its transformation and development under the new circumstances where world economic recovery remains slow and China is accelerating its economic transformation and modernization.

This year’s Forum highlights the invitation to representatives from Portuguese-speaking Countries. So far, it has been confirmed that a lot of representatives from Portuguese-speaking countries, mainly from Angola, Brazil, Guinea-Bissau, Mozambique and Portugal, will attend the Forum, which will make full use of Macao’s role as a cooperation platform and also enhance the level of internationalization of this year’s event. The Forum will bring together representatives from well-known domestic, overseas and Macao exhibition industry as guest speakers to increase the participation of Macao MICE industry, and arrange visits to Macao convention and exhibition facilities and meanwhile experiencing the cultural tourism features of Macao, so as to deepen the participants' understanding of Macao's convention and exhibition facilities as well as Macao's economy and culture. In addition, the Forum will also set up an “exhibition and negotiation area for Macao exhibition enterprises”, Macao MICE enterprises and the six gaming concessionaires and sub-concessionaires will participate in the event. Participants will be able to visit the exhibition area during the event and communicate with the Macao MICE enterprises, boosting cooperation with the local exhibition industry on business opportunities.

Since its foundation in 2005, CEFCO has adhered to the idea of “opening-up, cooperation and win-win”. Moreover, CEFCO has actively engaged in the construction of a platform for exchange and cooperation between China and foreign countries’ exhibition industry and has been successfully held in Beijing, Guangzhou, Shanghai and other places for 12 consecutive years, attracting annually about 800 foreign and domestic guests from well-known Chinese and foreign exhibition companies, industry organizations, professional media, research institutions and the official entities responsible for the sector. Every year, the Forum releases China’s Exhibition Economy Development Report composed by the CCPIT, which reviews comprehensively the policies, laws, regulations, industry trends and market characteristics of China’s exhibition industry and which has become an important window for overseas and domestic MICE industry to know more about the China’s exhibition industry.

IC announces candidates selected for the 2016 Subsidy Programme for Fashion Design on Sample Making
Tuesday, 20 December 2016 00:00

Source : Cultural Affairs Bureau

The second review of the “2016 Subsidy Programme for Fashion Design on Sample Making” held by the Cultural Affairs Bureau (IC, from the Portuguese acronym) was completed and a total of eight entrants were selected as eligible candidates of the Programme. IC will grant each eligible candidate (individual or team) a subsidy of up to MOP160,000 for sample making and the production of promotional materials.

In order to promote the sustainable development of the fashion design industry in Macao, IC launched the “Subsidy Programme for Fashion Design on Sample Making” in 2013. This year, a total of 24 applications were received, including 19 individual and 5 team applications. Following the initial and second reviews, the adjudicating panel selected eight eligible candidates: (in arbitrary order) Tam Chi Kit, Wai Chin Seong, Lo Ka Heng and Choi Wai Leng (team), Cheang Chi Tat, Peng Yun, Leong Man Teng, Wong Man Chon and Lao Ka Weng.

40% of the applicants were new applicants, revealing that the programme has continued to attract the participation of new applicants. In addition, over 50% of applicants have registered trademarks for their brands, showing an increasing awareness of local fashion designers about brand protection. The adjudicating panel comprised relevant professionals from Macao and Hong Kong covering various fields such as fashion design, retail, production and training. Members included the President of the Rainbow Group, Terry Sio Un I; the Senior Manager of the Macau Productivity and Technology Transfer Centre, Victoria Kuan Chi Ping; the member of the Committee of Cultural Industries of Macao and Vice President of the Industrial Association of Macau, José Tang Kuan Meng; the Hong Kong famous fashion designer, Walter Ma; and the consultant of the Macao Fashion Gallery, Raymond Au.

Some of the adjudicators who have participated in the selection works last year remarked that the overall standard of the applications has been progressing and the marketing plans have shown improvement. They added that some participants who have applied for the programme last year have experienced breakthroughs and developed their own fashion brands after countless trials and experience, and the outcome is encouraging.

For enquiries about the results of the Programme, please call Ms. Lam, staff member of IC, through tel. (853) 2892 4040 during office hours.

IPIM and DSPA Delegation Visits Portugal and Beijing to Promote 2017MIECF
Monday, 12 December 2016 00:00

Source : Macao Trade and Investment Promotion Institute

The 2017 Macao International Environmental Co-operation Forum & Exhibition (2017MIECF) will be held in Macao from 30 March to 1 April 2017 under the theme “Innovative Green Development for Sustainable Future”. Representatives of IPIM and the Environmental Protection Bureau (DSPA), the Host Co-ordinators of the event, visited Portugal and Beijing in early December and organised a series of activities to promote MIECF to the Mainland and overseas environmental protection industries to further enhance the effectiveness of the event.

Celebrating its 10th anniversary in 2017, MIECF has gradually become a highly effective international exhibition for the environmental protection industry. The event helps to promote Macao as a co-operation and networking platform for the PPRD, particularly between the EU, China and PSCs.

Various networking activities were organised to strengthen the publicity of MIECF in Portugal. The activities were participated in by the Secretary for Economy and Finance Leong Vai Tac, as well as representatives from various trade, economic and environmental protection associations in Portugal such as Portugal Global - Trade & Investment Agency (AICEP), Portuguese Environment Agency (APA), European Recycling Platform (ERP), Portuguese-Chinese Chamber of Commerce and Industry (CCILC), Portuguese Water Partnership (PPA) and the Portugal-China Association of Young Entrepreneurs (AJEPC). The activities received positive responses and the participants expressed interest in MIECF.

During the visit in Portugal, a 2017 MIECF promotional seminar, co-organised by IPIM, DSPA, Macao Economic and Trade Office in Lisbon (DECM), AICEP and AJEPC, was held at DECM. IPIM’s Executive Director Irene V. K. Lau and DSPA’s Deputy Director Vong Man Hung gave a detailed presentation on the event to further promote MIECF to overseas environmental protection sectors as well as fostering networking and co-operation of the environmental protection industry between the PPRD and Europe. It also aimed to promote business matching between the PPRD and European enterprises, as well as assisting trade visitors/buyers participating in MIECF to promote their environmentally-friendly commodities and technology transfer, so as to enhance the effectiveness of the event.

During the visit, IPIM also attended a contract signing ceremony of the co-operation project between CESL Asia of Macao and MAGPOWER of Portugal. The project is the outcome of the connection between the two enterprises established during 2010MIECF. The Portugal section of the project commenced this year and the next objective is the collaboration in tapping the Mainland market and investing in environmental technology transfer. IPIM also organised the MIECF roadshow activities in Matosinhos and visited various renowned environmental protection enterprises and invited them to participate in the event. The activities received a favourable response and a number of Portuguese environmental protection enterprises expressed interest in participating in the event, aiming to learn more about the latest information and development of the Mainland’s environmental protection industry so as to serve as a reference and guidelines for the direction of future development.

After the publicity activities in Portugal, the IPIM and DSPA delegation travelled to Beijing and plan to visit the National Development and Reform Commission, Ministry of Industry and Information Technology, China Association of Environmental Protection Industry and the Hong Kong and Macao Affairs Office of the People’s Government of Beijing Municipality. The delegation will provide information on the preparation of 2017MIECF and exchange views and discuss supporting and organising delegations wishing to participate in the event in Macao.

Private sector construction and real estate transaction for the 3rd quarter 2016
Monday, 21 November 2016 00:00

Source : Statistics and Census Service

Information from the Statistics and Census Service (DSEC) indicated that a total of 3,166 building units and parking spaces were purchased and sold as per Stamp Duty record in the third quarter of 2016, and the total value of transactions was MOP 17.22 billion, down by 18.4% and 10.0% respectively quarter-to-quarter. Purchase and sale of residential units totalled 2,399, amounting to MOP 14.54 billion, down by 19.5% and 4.8% respectively. Due to the commencement of pre-sale of new large-scale housing estates, pre-sale residential units purchased and sold increased by 49.6% to 347, and the total value rose significantly by 112.3% to MOP 3.79 billion. On the other hand, purchase and sale of existing residential units totalled 2,052, amounting to MOP 10.75 billion, down by 25.4% and 20.4% respectively.

The average price per square metre of usable area of residential units increased by 12.8% quarter-to-quarter to MOP 88,564 in the third quarter. The average price per square metre of pre-sale residential units rose by 10.1% to MOP 118,097; the average price in the Macao Peninsula rose by 8.0%, while that in Taipa and Coloane dropped by 10.0% and 1.3% respectively. Many of the pre-sale residential units purchased and sold were in Cidade & Hipódromo da Taipa (182), Coloane (45) and Móng Há & Reservatório (34), and the average price per square metre was MOP 122,415, MOP 103,352 and MOP 103,828 respectively.

The average price of existing residential units increased by 7.2% quarter-to-quarter to MOP 81,302 per square metre, with the average price of those in Taipa and Coloane rising by 24.9% and 2.6% respectively¸ and the average price of those in the Macao Peninsula decreasing by 1.9%. Many of the existing residential units purchased and sold were in Baixa da Taipa (328), NATAP (222) and Areia Preta & Iao Hon (180), and the average price per square metre was MOP 82,971, MOP 90,550 and MOP 69,743 respectively.

Analysed by year of completion, the average price of residential units completed in 5 years or less rose significantly by 31.2% quarter-to-quarter due to the release of relatively high-priced existing residential units in Taipa; a total of 194 units were purchased and sold (47 in NATAP, 25 in Jardins do Oceano e Taipa Pequena), and the average price was MOP 128,767 per square metre. Most of the transactions were residential units built between 21 and 30 years ago, totalling 985 units (130 in Areia Preta & Iao Hon, 109 in Baixa da Taipa), and the average price was MOP 70,149 per square metre, up by 0.9% quarter-to-quarter. For the purchase and sale of 411 residential units completed between 11 and 20 years ago (145 in Baixa da Taipa, 59 in NATAP), the average price rose by 1.6% to MOP 76,761 per square metre. The average price of the 316 residential units completed more than 30 years ago (52 in Barca, 46 in Conselheiro Ferreira de Almeida) increased by 2.0% to MOP 50,029 per square metre.

Analysed by usable floor area, there were 1,160 residential units with a floor area of 50.0 to 99.9 square metres, and the average price rose by 6.2% quarter-to-quarter to MOP 81,195 per square metre. There were 846 small-sized residential units with a floor area of less than 50 square metres, and the average price dropped by 2.8% to MOP 72,183 per square metre.

The average price of office units decreased by 6.5% quarter-to-quarter to MOP 93,524 per square metre, while that of industrial units increased by 24.9% to MOP 51,693 per square metre.

In the third quarter of 2016, there were 3,694 real estate purchase and sale contracts signed, involving 3,708 properties, down by 0.6% quarter-to-quarter; meanwhile, 3,412 mortgage contracts were signed, involving 4,522 properties, down by 7.8%.

As regards construction in the private sector, gross floor area of construction of new buildings totalled 125 thousand square metres, providing 879 units (818 are residential units) and 576 parking spaces for cars upon completion. Meanwhile, gross floor area of buildings completed totalled 44 thousand square metres, altogether providing 153 units (126 are residential units) and 70 parking spaces for cars.

Mortgage loans statistics – September 2016
Thursday, 10 November 2016 00:00

Source : Monetary Authority of Macao

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased in September 2016. With regard to the outstanding balance, RMLs increased whereas CRELs witnessed a mild decrease.

New lending approved

In September 2016, new RMLs approved by Macao banks increased by 44.3% month-to-month to MOP5.4 billion. Of which, new RMLs to residents, accounting for 98.8% of the total, rose by 49.2% to MOP5.3 billion, mainly attributed to larger loan size recorded for a number of approvals. In contrast, the non-resident component dropped by 60.6%. When compared with the same period of 2015, new approvals of RMLs increased by 48.2%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 14.8% from the preceding month to MOP252.9 million. Attributable to a higher comparison base in the same period last year, new equitable mortgage approved dropped by 75.4% on an annual basis.

New CRELs rose by 21.5% month-to-month to MOP9.0 billion. On an annual basis, new approvals of CRELs declined by 13.9%.

Outstanding balances

As at end-September 2016, the outstanding value of RMLs was MOP178.6 billion, an increase of 0.4% from one month earlier or 5.0% from a year ago. The resident component made up 93.5% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 0.3% and 1.0% respectively.

The outstanding value of CRELs reached MOP169.8 billion, down slightly by 0.1% month-to-month or up by 10.4% when compared with a year ago. Residents accounted for 89.0% of the loans. Compared with a month earlier, outstanding CRELs to residents decreased by 0.2% whereas those to non-residents rose by 0.4%.

Delinquency ratios

At the end of September 2016, the delinquency ratio for RMLs was 0.15%, virtually unchanged from a month ago but up 0.07 percentage points from a year ago. The ratio for CRELs was also unchanged from one month earlier but up 0.1 percentage point from end-September 2015, to 0.11%.

Closer Beijing-Macao ties bring developments of mutual benefit
Thursday, 20 October 2016 00:00

Source : Government Information Bureau

Further initiatives for complementary cooperation between Beijing and Macao were launched today, with the aim of deepening and broadening exchanges and creating fresh opportunities for mutual beneficial development.

The Beijing municipal government and the SAR Government jointly launched this afternoon in Macao the Beijing-Macao Cooperation Partnership 2016, initiating a series of cooperation initiatives covering the economy and trade, youth exchanges, cultural affairs, and education.

Speaking at the launch ceremony, the Chief Executive, Mr Chui Sai On, said further ties with Beijing would allow Macao to learn from Beijing’s successes, as a step to boosting Macao’s efforts in achieving adequate economic diversification.

The Chief Executive and the Mayor of the People's Government of Beijing Municipality, Mr Wang Anshun, witnessed the signing of a total of six agreements during the ceremony. They are:

  • the memorandum of understanding on friendly cooperation between the Beijing Municipal Commission of Education and the Education and Youth Affairs Bureau of the Macao Special Administrative Region;
  • the agreement between the Beijing Municipal Bureau of Human Resources and Social Security and the Public Administration and Civil Service Bureau of the Macao Special Administrative Region, regarding exchanges and learning activities for civil servants from the two places;
  • the agreement of strategic cooperation between the Beijing Municipal Commission of Commerce and the Macao Trade and Investment Promotion Institute;
  • the memorandum of cooperation between the Administrative Committee of Zhongguancun National Innovation Demonstration Zone and the Tertiary Education Services Office of the Macao Special Administrative Region, regarding development of science and technology between enterprises in the Demonstration Zone and Macao’s higher education institutions;
  • the letter of intent between the Bureau of Beijing International Horticultural Exhibition Coordination and the Civic and Municipal Affairs Bureau of the Macao Special Administrative Region, regarding Macao’s participation in the International Horticultural Exhibition 2019; and;
  • the letter of intent between the international department of the organising committee for the Beijing 2022 Olympic and Paralympic Winter Games and the Sports Bureau of the Macao Special Administration Region, regarding the promotion of the 2022 Olympic and Paralympic Winter Games.
Guests officiating at today’s ceremony included: the Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), Mr Ho Hau Wah; the Deputy Director of the Liaison Office of the Central People’s Government in the Macao SAR, Mr Yao Jian; and the Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao SAR, Mr Pan Yundong.

Macao officials at the event included: the Secretary for Economy and Finance, Mr Leong Vai Tac; and the Chief-of-Office of the Chief Executive’s Office, Ms O Lam.

Officials from Beijing present in the ceremony included: the Secretary-General of the People’s Government of Beijing Municipality, Mr Li Wei; the Secretary-General of the People’s Government of Beijing Municipality and Head of the Research Department, Mr Liu Zhanxing; and the Director of the Hong Kong and Macao Affairs Office of the People’s Government of Beijing Municipality, Mr Zhao Huimin.

* Chinese and Portuguese are the official languages of Macao, the English version of the web site is the translation from the Chinese originals and is provided for reference only.

Premier Li announces 18 new measures to boost development of Forum Macao
Tuesday, 11 October 2016 00:00

Source : Office of the Chief Executive

Premier of the State Council, Li Keqiang, today highlighted Macao’s bridging role, as he announced 18 new measures to support the development of Forum Macao.

Premier Li made the announcement at the opening of the 5th Ministerial Conference of Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), known as Forum Macao.

Macao’s bridging role is its “lifeblood”, and Forum Macao offers an intangible but nonetheless effective bridge that strengthens links between China and Portuguese-speaking countries, Premier Li said in his keynote speech.

Premier Li said Macao would further enhance its position as a commercial and trade cooperation service platform between China and the Portuguese-speaking countries (known as the “Platform” policy) thanks to its unique advantages in language, geographic location, sound infrastructure, and in its business environment.

The Central Government would give full support to Macao’s endeavours in relation to the “Platform” policy, and subsequently, its “Three Centres” for cooperation between China and Portuguese-speaking countries, namely: a convention and exhibition centre for economic and trade cooperation between China and Portuguese-speaking countries; a business and trade service centre for the small- and medium-sized enterprises in China and Portuguese-speaking countries; and a distribution centre for Portuguese-speaking countries’ goods.

Premier Li said he hoped the launch of construction for a complex to support trade and economic cooperation between China and Portuguese-speaking countries – comprising a multifunctional facility covering trade cooperation and business services among other uses – would be a new landmark in the relationship between China and Portuguese-speaking countries.

The Premier said he noted the member countries of Forum Macao took part in the International Infrastructure Investment and Construction Forum, and the Ministerial Meeting on Infrastructure between China and Portuguese-speaking Countries, two events that would hence be held in Macao annually.

In the coming three years, the Central Government would make further efforts to support the development of Forum Macao. In this regard, Premier Li announced 18 new measures, including five measures to enhance Macao’s “Platform” functions.

The new measures include:

  • Providing Asian and African Portuguese-speaking countries participating in Forum Macao with grants in aggregate worth 2 billion RMB to support these countries in livelihood projects such as agricultural development, trade and investment facilitation, malaria prevention and treatment and research on traditional medicines;
  • Providing Asian and African Portuguese-speaking countries participating in Forum Macao with concessional loans in aggregate worth no less than 2 billion RMB, in order to promote industry connections and capacity cooperation with these countries, and to further strengthen cooperation in infrastructure development;
  • Writing off an aggregate of 500 million RMB in due interest-free loans made to Asian and African Portuguese-speaking countries participating in Forum Macao;
  • Deploying 200-strong medical teams to Asian and African Portuguese-speaking countries participating in Forum Macao, as well as 2,500 Chinese Government scholarships per year to candidates from Portuguese-speaking countries participating in Forum Macao;
  • Encouraging companies to establish or upgrade economic and trade cooperation zones in Portuguese-speaking countries;
  • Helping Asian and African Portuguese-speaking countries participating in Forum Macao to develop facilities such as marine meteorological observatories to respond to marine disasters and climatic challenges;
  • Supporting the Macao SAR to become a financial services platform between China and Portuguese-speaking countries, and to establish in Macao: the Association of Enterprise Directors of China and Portuguese-speaking Countries; the Center for Cultural Exchanges between China and Portuguese-speaking Countries; the Youth Innovation and Entrepreneurship Center between China and Portuguese-speaking Countries; and a Chinese-Portuguese bilingual talent training base.

In his keynote speech, the Premier underlined the fact that the trade volume between China and Portuguese-speaking countries reached nearly 100 billion U.S. dollars last year, with China becoming one of the most important trading partners of Portuguese-speaking countries.

With the help of Forum Macao, Premier Li said, China and Portuguese-speaking countries had increased exchanges on multiple fronts. He added that China was willing to work together with these countries to establish even stronger trade relations.

He said China and Portuguese-speaking countries also needed to deepen political trust in one another, promote trade and investment facilitation and enhance cultural exchanges.

According to the Premier, the total value of China’s imports is estimated to reach 8 trillion U.S. dollars in the coming five years, while its foreign investments would hit 720 billion U.S. dollars; and the number of outbound tourists from China would exceed 600 million. All these factors would bring enormous opportunities to businesses in Portuguese-speaking countries.