News

Information from the Statistics and Census Service (DSEC) indicated that total merchandise export for September 2014 amounted to MOP762 million, up by 12% year-on-year; value of domestic exports (MOP170 million) increased by 27%, with that of Tobacco (MOP54 million) surging by 1.8 times; value of re-exports (MOP592 million) also rose by 9%. Total merchandise import was MOP7.86 billion, up by 23% year-on-year, of which imports of Mobile phones (MOP614 million) soared by 65%. Merchandise trade deficit amounted to MOP7.10 billion. In the third quarter of 2014, total value of merchandise export (MOP2.27 billion) and merchandise import (MOP22.16 billion) increased by 6% and 9% respectively year-on-year, resulting in a trade deficit of MOP19.89 billion. In the first three quarters of 2014, total value of merchandise export increased by 8% year-on-year to MOP7.29 billion, of which value of re-exports (MOP5.81 billion) rose by 11%, but that of domestic exports (MOP1.49 billion) dropped slightly by 1%. Total value of merchandise import grew by 12% to MOP65.18 billion. Merchandise trade deficit widened to MOP57.89 billion. Analysed by destination, merchandise export to Hong Kong (MOP4.30 billion) and the EU (MOP218 million) in the first three quarters of 2014 increased by 20% and 5% year-on-year, while export to Mainland China (MOP1.13 billion) and the USA (MOP241 million) decreased by 7% and 11% respectively. Exports of Non-textiles (MOP6.72 billion) increased by 11% year-on-year, of which exports of Machines, apparatus & parts (MOP1.30 billion) and Clocks & watches (MOP672 million) rose by 42% and 69% respectively, but that of Electronic components (MOP496 million) dropped by 34%. Exports of Textiles & garments (MOP575 million) decreased by 12%.
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Since its opening in February 2010, the Mandarin's House, a World Heritage site, has attracted a great number of visitors, tourists and locals alike. In order to create more channels for selling local cultural and creative products and promote local creations, every year the Cultural Affairs Bureau (IC) selects companies from the Database for Macao Cultural and Creative Industries (Database) to present and sell their own creative products on consignment in the Mandarin's House Cultural Relics Info Centre and Gift Shop. The selection for 2015 is now open until 14 November 2014. All cultural and creative entities interested are welcome to apply for inclusion in the Database. Those already listed in the Database need not re-apply but may submit any updates to IC before the application deadline.
The Mandarin's House Cultural Relics Info Centre and Gift Shop markets souvenirs themed on the Mandarin's House and Macao cultural heritage, publications and IC design items, as well as products of Macao's cultural and creative brands on consignment. The shop sells products such as design items, anime and comic products, audio and visual products as well as printed matter. The selection criteria is based on the products originality, industrial and market potential, brand image quality, capacity for sustainable development or R&D, and relevance to the Mandarin's House. The selection will be made upon a comprehensive evaluation of all these factors. The Gift Shop aims to create an extra window and sales platform for local cultural and creative industries, thus publicising and supporting the development of cultural and creative products with Macao features.
The Information Collection Form for applying for inclusion in the Database can be downloaded from the IC website (www.icm.gov.mo/dpicc) or the Macao Cultural and Creative Industries website (www.macaucci.com). Interested parties can apply for inclusion by submitting the completed form in print, along with the electronic files of the form and attachments, at Edif. do Instituto Cultural in Tap Seac Square, Macao or at the Department for the Promotion of Cultural and Creative Industries (address: 567, Av. da Praia Grande, Edif. BNU, 12th floor A–D, Macao).
For enquiries please contact IC through tel. no. 8598 6716 or 8598 6723 during office hours, or through email: info.dpicc@icm.gov.mo.
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After the Ferrandi Paris Master Chef Week on French pastries held on 23 to 27 September, the Institute for Tourism Studies (IFT) together with Kendall College, Chicago, United States of America hosted the Midwest American Cuisine Cooking Demonstration Workshop on 30 October, enhancing hospitality and food and beverage professionals' knowledge and cooking techniques of Midwest American cuisine. Focusing on local and sustainable ingredients from the Midwest of the United States, the workshop was composed of five sessions: introduction to US Midwest cuisine and its ingredients, introducing the recipe and preparing ingredients, key issues of the production process, demonstration, food tasting and Q&A. The dish demonstrated at the workshop was maple brined chicken breast with maple gastric, apple salad and puffed wild rice. The workshop attracted a total of 20 chefs from hotels and restaurants as well as IFT students. Participants not only gained basic knowledge about US Midwest cuisine through the demonstration, but also experienced the whole production process and rich American cultural legacy through tasting the most authentic and refined American gastronomy. Christopher Koetke was named Vice President of the Kendall College School of Culinary Arts in 2012. He joined the School of Culinary Arts in 1998, serving first as a Culinary Instructor and later as Associate Dean, Dean and Executive Director. Under his leadership, the School of Culinary Arts was awarded the Academy of the Culinary Arts Cordon d' Or – Gold Ribbon Cooking School of the Year Culinary Academy Award for 2008. Kendall is the only culinary school in the US to receive Certified Green Restaurant status from the Green Restaurant Association for both the Dining Room and Cafeteria. IFT has always been dedicated to organise promotions of different ethnic cuisines for local industry and the public. At the same time, it arouses the interests of food service industry in Macao to explore more ideas in cooking. Through the Master Chef Demo Workshop organised by IFT, the Institute forms a communication platform for local and overseas chefs. The Institute will continue to offer more training programmes to help enhance the knowledge and skills of industry professionals.
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The Monetary Authority of Macao (AMCM) announced the preliminary financial figures of the Macao SAR Fiscal Reserve as of 30 September 2014. The total size of the Fiscal Reserve stood at MOP244.57 billion, which consisted of MOP116.46 billion as the Basic Reserve, MOP125.20 billion as the Excess Reserve and an accumulated investment profit of MOP2.91 billion for the first nine months of the year 2014.
Periodic developments in the first 9 months of 2014
Into the year 2014, the size of the Fiscal Reserve continued to expand from fiscal surplus injection. With a substantial increase in Excess Reserve in particular, the overall portfolio was provided with a larger buffer in adopting a comparatively more progressive investment strategy. The Fiscal Reserve started to invest in equities during the first half of the year. Drawing on the experience of institutional investors of similar profile, the AMCM decided to manage its equities investment primarily through external fund managers, after considering internal resources rationalization and overall cost efficiency improvement. As of the end of the third quarter, equities investment of the Fiscal Reserve focused on emerging markets, with investment returns benchmarked at internationally-recognized emerging market indices. On the other hand, for developed equity market exposure, the portfolio adopted a rather prudent strategy in accumulating "equity index linked instruments" under direct management, in order to enhance returns from potential rallies in the underlying equity markets under a risk-controlled scenario. To recap for the first nine months of 2014, asset allocation in both bond market and money market provided a reasonable return for the Fiscal Reserve. Volatilities in the Renminbi exchange rate during the first half of the year temporarily affected portfolio performance and resulted in certain monthly revaluation losses. However, as the Renminbi exchange rate gradually stabilized in recent months, such losses were fully recovered to bring the overall result of the Fiscal Reserve to an accumulated 9-month profit of MOP2.9 billion.
Latest progress on diversification for investment portfolio
Building on the experience in diversifying into emerging market equities and equity index linked instruments, the Fiscal Reserve is initiating its global equities investment by exploiting favorable market conditions. On the Mainland Chinese markets, the relevant USD500 million have already been injected under the approved QFII (Qualified Foreign Institutional Investors) quota and the Fiscal Reserve would soon start its first round of investing into A-shares listed on the Shanghai or Shenzhen Stock Exchange. Besides, during the period, the Fiscal Reserve has also made progress in its alternative asset investment portfolio, which includes diversifying into private equity space for the first time. In fact, the International Monetary Fund (IMF) published its inaugural "Staff Report for the 2014 Article IV Consultation Discussions - Macao" earlier this year, in which the IMF has a positive recognition for the optimization in investment strategies implemented by the Fiscal Reserve in order to enhance long-term returns.
In the light of the imminent exit from massive quantitative easing of monetary policies in some advanced economies, coupled with recent signs of a slowdown in growth looming in emerging markets as well as particular industrialized countries, volatilities in the global financial markets will likely persist. Against these specific backdrops, the AMCM will adhere to the fundamental principles in reserves management. While ensuring a reasonable level of capital preservation and asset liquidity for the Fiscal Reserve's portfolio, the AMCM will consistently evaluate different asset allocation alternatives and adopt proper diversification strategies in order to achieve a higher overall return for the Fiscal Reserve in the medium to long-term investment horizon.
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On the occasion of the 28th Macao International Music Festival, the Macao S.A.R. Government, through the Cultural Affairs Bureau (IC), invited consuls of various countries accredited in Hong Kong and Macao to visit the territory on 29 October 2014 and participate in activities organized by IC such as A Retrospective Exhibition of Decorated Arches of Macao in Commemoration of the 15th Anniversary of Macao's Handover to China. They then enjoyed a performance of Hairspray – The Musical, by Bronowski Productions, Ltd. (United Kingdom), the closing performance of the 28th Macao International Music Festival at the Macao Cultural Centre.
The delegation visited A Retrospective Exhibition of Decorated Arches of Macao in Commemoration of the 15th Anniversary of Macao's Handover to China, jointly organised by the Cultural Affairs Bureau, the Macao Foundation and the Macao Artists Society, accompanied by the President of the Cultural Affairs Bureau, Mr. Ung Vai Meng, the Vice-President, Dr. Leung Hio Ming and the Head of the Cultural Events Department, Mr. Kent Ieong, and by the President of the Macao Artists Society, Mr. Lai Ieng, recognising and understanding the characteristics of the pailou culture during the National Day celebrations. The visit facilitated the delegation's understanding of the construction of National Day pailou (decorated arches) in the past. The delegates were impressed by Macao's pailou culture, and experienced its unique cultural practice.
Exhibits include 30 special paintings by National Day pailou old days designers and members of the Macao Artists Society, whilst valuable photos and models of National Day pailou are also displayed. The delegation was interested in the construction of the pailou and appreciated the process of the production crews who built them in one night. In the evening, after enjoying a dinner hosted by the Bureau, the consuls' delegation attended the closing performance of the 28th Macao International Music Festival, Hairspray - The Musical, featuring an inspirational and encouraging story. The original Broadway production debuted on 15 August 2002 and ran for over 2,500 performances, being warmly received by numerous audiences. In 2003, Hairspray won 8 Tony Awards and 10 Drama Desk Awards.
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Information from the Statistics and Census Service (DSEC) indicated that visitor arrivals in package tour totalled 1,028,000 in September 2014, up by 9% year-on-year. Visitors from Mainland China increased by 11% to 840,000, with 330,000 coming from Guangdong Province, up by 21%. Visitors from Taiwan (62,000) increased by 10%, while those from the Republic of Korea (34,000) and Hong Kong (34,000) decreased by 4% and 5% respectively. In the first three quarters of 2014, visitor arrivals in package tour reached 8,825,000, up by 19% year-on-year. Outbound residents using services of travel agencies were 124,000 in September, up by 12% year-on-year; those travelling in package tour totalled 43,000 and the main destinations were Mainland China (74% of total), the Republic of Korea (7%) and Taiwan (7%). In the first three quarters of 2014, outbound residents totalled 1,146,000, up by 7% year-on-year. There were 98 hotels and guesthouses operating at the end of September 2014, providing 28,000 guest rooms, up slightly from a year earlier; 5-star hotels accounted for 66% of the total supply, with 18,000 rooms. A total of 852,000 guests checked into hotels and guesthouses in September, down by 1% year-on-year. Guests from Hong Kong (102,000) and Taiwan (31,000) decreased by 25% and 15% respectively, while those from Mainland China (547,000) increased by 6%. The average length of stay of guests was 1.4 nights, up by 0.1 night year-on-year. The average occupancy rate of hotels and guesthouses increased by 2 percentage points year-on-year to 85%, with 4-star hotels leading at 87%. In the first three quarters of 2014, hotel guests totalled 8,066,000, up by 1% year-on-year; the average occupancy rate stood at 86%, an increase of 4 percentage points. In the first three quarters of 2014, visitor-guests accounted for 69% of the total overnight visitors, down by 1 percentage point year-on-year.
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Consumer Council conducted its seventh 'Supermarket price survey' in October on 28 October for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included 11 supermarkets in Sé Parish. The latest 'Supermarket Price Survey' is now available on Consumer Council's website (www.consumer.gov.mo), and the 'Supermarket Price Information Platform' iPhone and Android apps. The survey is also available free of charge at the offices of Consumer Council, IACM's Iao Hon and S. Domingos Markets, bookstores and libraries. Consumers may also access the resources through WAP channels on their mobile phones. With reference to the local six parishes and the number of supermarkets in each parish, the Council has divided around 100 supermarkets into 8 areas for price collection. The Council collects prices from these supermarkets for the provision of a more comprehensive database for consumers to check price discrepancies and make price comparisons according to their desired locations. For inquiry, please call 8988 9315.
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Information from the Statistics and Census Service (DSEC) indicated that Total Receipts of the Gaming Sector reached MOP363.07 billion in 2013, up by 18% year-on-year. Receipts from Gaming & Related Services (e.g. food & beverage, currency exchange, etc.) increased by 18% year-on-year to MOP362.75 billion, of which Receipts from Food & Beverage totalled MOP564 million, up by 28% year-on-year. Total Expenditure amounted to MOP156.65 billion, up by 14% year-on-year. Expenditure on Purchase of Goods, Commission Paid and Customer Rebate increased by 13% to MOP115.74 billion. Operating Expenses (MOP21.17 billion) and Compensation of Employees (MOP16.18 billion) went up by 21% and 13% respectively. Non-operating Expenditure such as depreciation and interest paid totalled MOP3.57 billion, up by 15% year-on-year. Gross Value Added that measures the sectoral contribution to the economy registered an increase of 21% year-on-year, at MOP225.87 billion. Gross Fixed Capital Formation increased by 36% to MOP4.35 billion owing to an increase in land premiums and major renovation projects.
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The Global Tourism Economy Forum • Macau 2014 (the "GTEF" or "Forum") adjourned this afternoon (28 October), concluding the two-day meeting with tremendous success. As an advanced international platform for tourism exchange and a bridge for multilateral cooperation, this edition has invited over 40 ministerial officials, globally‐renowned corporate leaders, experts and scholars from around the world to address the Forum under the theme "Maritime Silk Road - From Macau We Begin". Close to 1,000 delegates from different countries and cities around the world attended the occasion, including delegations from four provinces and autonomous regions in Mainland China. Approximately 180 local and overseas media representatives attended and covered the event. Ms. Pansy Ho, Secretary‐General of GTEF summarized the Forum in her remark, "From our distinguished speakers, we learned that the 21st century Maritime Silk Road initiative is about economic integration and cultural diversification. We have also learned that tourism has been and will continue to be an effective tool to balance the socio-economic development along the Maritime Silk Road countries; and even to recharge and revive a country through changes to tourism offerings that are beyond the limitation of borders and seasonality. From this edition, we take away many valuable lessons: clarity of vision; political will and strategic prioritization; 360-degree relationship between all stakeholders; inclusiveness; cultural sensitivity; co-existence of competitiveness and cooperation; and appreciating everything that represents the Maritime Silk Road." Ms. Maria Helena de Senna Fernandes, Director of Macau Government Tourist Office of the Macao SAR Government, delivered a closing remark, "Government officials and industry leaders shared their thoughts about the driving force for cooperation on the 21st Century Maritime Silk Road. Tourism elites have started planning for the future brand new Maritime Silk Road, and shared their insights on welcoming future tourists from the Maritime Silk Road. These discussions have not only become valuable references for the future development of the 21st Century Maritime Silk Road as a new tourism trend, but also brought practical suggestions and directions for countries and cities along the Maritime Silk Road." Director Senna Fernandes then introduced the Pacific Alliance countries (Mexico, Peru, Chile and Colombia) as GTEF 2015 partner countries. The new partnership stands for GTEF's ground-breaking strategic collaboration with Latin American countries, expanding the Forum's reach of positive impact in the tourism realm. Mr. Rodolfo López Negrete Coppel, Chief Executive Officer, Mexico Tourism Board; Mr. José Miguel González Serrano, Consul General of Chile in Hong Kong SAR and Macao SAR; Mr. Miguel Angel Rodriguez, Consul General of Colombia in Hong Kong; and Mr. David Málaga, Consul General of the Republic of Peru in Hong Kong and Macao presented the latest tourism information on their respective countries. The fourth edition of the GTEF will be held in November 2015. The organizer is looking forward to carrying on the achievements of the first three editions, continuously functioning as an international platform of tourism exchange and cooperation which allows the participating tourism industry partners to fully leverage the Forum to forge broader and more inclusive tourism cooperation across industries, sectors and regions. Meanwhile, the new addition of Pavilion Exhibition brings fascinating dimensions to the Forum through a variety of exhibitions, presentations and performances. It will be opened to the public on 29 October 2014, expected to create more networking opportunities for participating countries and regions with different sectors in Macao. About the organizational structure of Global Tourism Economy Forum
Co-organized by the China Chamber of Tourism under the authorization of All-China Federation of Industry and Commerce (ACFIC), coordinated by the Global Tourism Economy Research Centre and in collaboration with the World Tourism Organization (UNWTO), the Global Tourism Economy Forum is hosted by the Secretariat for Social Affairs and Culture of the Macao SAR Government. The Forum also earns great support from its supporting units including Liaison Office of the Central People's Government in the Macao SAR, Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao SAR, China National Tourism Administration (CNTA), World Travel and Tourism Council (WTTC), Pacific Asia Travel Association (PATA) and Macau Government Tourist Office (MGTO). Vice Chairman of The National Committee of the Chinese People's Political Consultative Conference, Ho Hau Wah is the Chairman of GTEF, while Secretary for Social Affairs and Culture of the Macao SAR Government, Cheong U is the Executive Chairman of GTEF. The third edition of the Forum is dedicated to responding actively to our Country's initiatives of establishing the 21st century Maritime Silk Road (MSR) and leading discussions on the transformation of the MSR region under the theme of "Maritime Silk Road – From Macau We Begin". The Forum also aims to explore strategic intercontinental cooperation in tourism and business opportunities across nations, provinces and cities along the MSR route.
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The Global Tourism Economy Forum • Macau 2014 (the "GTEF" or "Forum") officially commenced today (27 October) as an event hosted by the Secretariat for Social Affairs and Culture of the Macao SAR Government, co-organized by the China Chamber of Tourism under the authorization of All-China Federation of Industry and Commerce (ACFIC), coordinated by the Global Tourism Economy Research Centre and in collaboration with the World Tourism Organization (UNWTO). The Secretariat for Social Affairs and Culture of the Macao SAR Government hosted a grand welcome dinner tonight to greet the Forum's domestic and overseas guests, extending wishes that tomorrow's discussions will inspire more creative ideas and innovations that foster global tourism cooperation. Ms. Cecília Cheung, Chief of Office of the Secretary for Social Affairs and Culture of the Macao SAR Government, stated in her welcome message on behalf of the Secretary for Social Affairs and Culture, "This year the Macao SAR celebrates the 15th Anniversary of Establishment. Over the years, the Macao SAR has been moving forward in steady progress with devoted efforts to become a World Centre of Tourism and Leisure, and forging ahead with the adequate diversification of our economic development. Being the host city of the first three editions of GTEF, Macao has earned a wealth of valuable experience. The Macao SAR Government will join hands with local trade to foster international cooperation in tourism in an active role. Meanwhile, by hosting international meetings to gain more experience, we will further equip ourselves comprehensively and seize the chance to show our destination to the world while enhancing Macao's international status and influence." Mr. Ho Hau Wah, Vice Chairman of The National Committee of the Chinese People's Political Consultative Conference and Chairman of GTEF; H.E. Dr. Massoud Soltanifar, Vice-President of Islamic Republic of Iran, and President of Iran Cultural Heritage, Handicrafts and Tourism Organization; Mr. Qiang Wei, Party Secretary of the Communist Party of China Jiangxi Provincial Committee; Mr. Márcio Favilla Lucca de Paula, Executive Director for Operational Programmes and Institutional Relations, UNWTO; Mr. Hu Zhengyue, Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macao SAR and Honorary Chairman of GTEF; Ms. Du Yili, Vice Chairman of China National Tourism Administration (CNTA); Mr. An Qiyi, Vice-Chairman of All-China Federation of Industry and Commerce (ACFIC); Dr. Michael Frenzel, Chairman of World Travel & Tourism Council (WTTC) and Honorary Chairman of GTEF; Mr. Scott Supernaw, Chairman of Pacific Asia Travel Association (PATA) and Honorary Vice Chairman of GTEF; and Ms. Wang Ping, Chairman of China Chamber of Tourism and Vice Chairman of GTEF are among the prestigious guests in the welcome dinner. To showcase the diversity and attractiveness of MSR cultural treasures, a porcelain musical instrument performance was presented by Jiangxi Provincial Song and Dance Theatre to liven up the welcome dinner. The entertainment was extended to the after-dinner Fujian Province Dance Drama – Dreams Seeking on Silk Sea Route performance presented by Fujian Provincial Song and Dance Theatre at the University of Macau. The third edition of the Forum is dedicated to leading timely and systematic discussions on the transformation of the Maritime Silk Road (MSR) region, and actively responding to our Country's initiatives of establishing the 21st century MSR under the theme of "Maritime Silk Road – From Macau We Begin". The Forum also aims to explore strategic intercontinental cooperation in tourism and business opportunities across nations, provinces and cities along the MSR route, carrying on the same exploratory spirit of our predecessors who reshaped the economic landscape over the past decades.
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