News

Information from the Statistics and Census Service (DSEC) indicated that the economy of Macao in the third quarter of 2017 expanded by 6.1% year-on-year in real terms, driven by continuous increase in exports of services. The slowdown in economic growth was due to the high base of comparison in the third quarter of 2016 as the economy rebounded. External demand grew robustly, driving exports of services up by 14.6% year-on-year, in which exports of gaming services and other tourism services grew by 18.4% and 9.4% respectively; exports of goods rose by 18.9%. Domestic demand slackened visibly owing to a 25.1% fall in investment; government final consumption expenditure and imports of goods dropped by 0.7% and 6.8% respectively, whereas private consumption expenditure edged up by 0.5%. The implicit deflator of GDP, which measures the overall changes in prices, went up by 2.8% year-on-year.
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Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the third quarter of 2017 increased by 14.9% year-on-year to MOP16.18 billion and rose by 11.1% as compared with the revised figure (MOP14.56 billion) in the second quarter of 2017. Watches, Clocks & Jewellery accounted for 23.0% of the total value of retail sales, followed by Goods in Department Stores (14.8%), Adults’ Clothing (13.0%), Leather Goods (11.6%) and Goods in Supermarkets (6.8%).
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Information from the Statistics and Census Service (DSEC) indicated that a total of 304 MICE events were held in the third quarter of 2017, including 279 meetings & conferences, 15 exhibitions and 10 incentives. Total number of participants and attendees was 581,000.
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“Macao Light Festival 2017 – AMOR MACAU” will come on stage from 3^rd to 31^st December at various locations in Macao, presenting a glamorous journey brimming with love and dreams that is well-designed and created in concerted effort by over a hundred local transmedia creators and the organizer – Macao Government Tourism Office (MGTO). Coming to its third edition, the Macao Light Festival will present an innovative and splendid program which includes projection mapping, light installations, interactive games and a series of more activities such as Light Art Exhibition, Mini Concert, Outdoor Movie and Light Dinner. Related cultural and creative products will be launched in tandem with the Macao Light Festival as well. Civic and Municipal Affairs Bureau, Cultural Affairs Bureau and Sports Bureau are the event co-organizers.
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The Social Security Fund (abbreviated to FSS in Macao) will make payments tomorrow (23 November) to 31,386 applicants of the second phase, who are eligible for the withdrawal of funds of the provident fund individual accounts. The FSS has started to send letters or mobile text messages (SMS) to inform the above individuals of the outcome of their applications.
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An International Conference on the Tsinghua Bamboo Manuscripts was held recently, to discuss matters related to Volume VII of the Tsinghua Collection of Bamboo Slip Manuscripts published earlier this year. The event was co-organised by the Department of Chinese Language and Literature of the University of Macau (UM), Jao Tsung-I Academy of Sinology of Hong Kong Baptist University (HKBU), and the Research and Conservation Center for Excavated Texts of Tsinghua University. It aimed to foster closer ties among the organisers as well as their ties with other well-known research institutions in order to push forward the pioneering study of the manuscripts.
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Information from the Statistics and Census Service (DSEC) indicated that there were 28 banks in Macao; number of full-time employees increased by 50 year-on-year to 6,122 at the end of the third quarter of 2017. Analysed by occupation, there were 1,644 directors and managers, and 2,014 clerks (including 724 bank tellers).
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Gross Value Added of all economic activities of Macao registered nil growth in real terms in 2016 after declining by 21.1% year-on-year in 2015, underpinned by improvement in business conditions of Gaming & Junket Activities, coupled with satisfactory performance of some service industries such as Financial Activities (including Banking, Insurance & Pension Funding) and Hotels & Similar Activities.
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