News

In response to the worldwide effects of the COVID-19 pandemic, the University of Macau’s (UM) Centre for Macau Studies and the Department of Economic have announced the revised 2020 Macau Macroeconomic Forecast using the Macroeconometric Structural Model of Macao. The forecast has been revised twice, in February and April respectively, since its first announcement in January this year.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 108 hotels & guesthouses were open for business in May 2020, and number of available guest rooms decreased by 12.4% year-on-year to 34,000. Data on hotels & guesthouses used for medical observation were excluded in the compilation of the following statistics. The average occupancy rate of guest rooms fell by 77.8 percentage points year-on-year to 12.3%. The rate of 5-star hotels (5.5%) reduced by 85.2 percentage points, while the rates of 2-star hotels (35.1%) and guesthouses (44.1%) dropped by 40.7 percentage points and 19.9 percentage points respectively.
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The Macao Orchestra and the Macao Chinese Orchestra, under the auspices of the Cultural Affairs Bureau (IC, from the Portuguese acronym) will resume its performances from July onwards. Due to the impact of the novel coronavirus pandemic, some of the concerts scheduled will be cancelled as the performers are not be able to visit Macao.
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Information from the Statistics and Census Service (DSEC) indicated that the unemployment rate continued to rise amid the epidemic of novel coronavirus pneumonia. The general unemployment rate for March-May 2020 was 2.4% and the unemployment rate of local residents was 3.4%, up by 0.2 and 0.3 percentage points respectively from the previous period (February-April 2020). Meanwhile, the underemployment rate increased by 0.5 percentage points to 2.6%.
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At the invitation of the international authoritative journal Pharmacology & Therapeutics, a research team in the University of Macau (UM) Institute of Chinese Medical Sciences, led by Associate Professor Chen Xiuping, recently wrote a paper on a new type of programmed cell death and its molecular mechanisms induced by natural products. The paper is expected to provide new strategies for cancer therapy and has been published in the aforementioned journal.
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Organized by the Cultural Affairs Bureau (IC, from the Portuguese acronym) and co-organized by the Municipal Affairs Bureau, diverse music activities of “HUSH!! Full Music 2020” will be held between July and August. A total of 50 local musicians, bands and performers will perform online and at various places such as the Macao Contemporary Art Centre - Navy Yard No. 2, the Macao Science Centre Square, the Ponte 9 Rooftop and Senado Square respectively, becoming one of the most important annual pop music festivals in Macao.
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The Macao Cultural Centre, under the auspices of the Cultural Affairs Bureau, is launching its “ARTmusing Summer”, bringing a string of workshops, performances and screenings specially curated to entertain and inspire a vast audience throughout the warm season. From babies to seniors, this year’s edition is back with artistic suggestions and entertaining ideas for all.
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According to the statistics released today by the Monetary Authority of Macao, on 31 December 2019, investment of Macao residents (including individuals, the government and other legal entities but excluding Macao’s foreign exchange reserves) in securities issued by unrelated non-residents reached MOP921.8 billion at current market value, representing a rise of 14.0% from end-June 2019 or 36.2% from end-2018. Among the various instruments of portfolio investment, equity securities (including mutual funds and investment trust units), long-term debt securities and short-term debt securities were valued at MOP299.6 billion, MOP582.6 billion and MOP39.6 billion respectively. As compared with end-2018, equity securities, long-term debt securities and short-term debt securities increased by 30.8%, 36.0% and 106.8% respectively.
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