News

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP155.2 billion (USD19.43 billion) at the end of July 2016. The reserves increased by 2.6% from the revised value of MOP151.2 billion (USD18.92 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-July 2016 represented 12 times the currency in circulation or 106.2% of Pataca M2 at end-June 2016. The trade-weighted effective exchange rate index for the pataca rose 0.87 points month-to-month and 1.64 points year-on-year to 106.39 in July 2016, implying that overall speaking, the pataca appreciated against the currencies of Macao’s major trading partners.
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The Macao Trade and Investment Promotion Institute (IPIM) and the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce of the People's Republic of China co-organised the 2nd “Training for Macao Convention and Exhibition Talents”. It was successfully held in Dalian, China, from 9 to 12 August 2016. The latest session of the training event followed a similar event held in 2015, which was co-organised by the Macao Economic Services and the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce. The courses integrated theory with practice, the training programme was conducive to enhancing the professional standards of Macao people working in the city’s convention and exhibition industry. It also aimed to strengthen exchanges and cooperation between the convention and exhibition industry in Mainland China and that in Macao. IPIM – as the body responsible for coordinating the overall development of Macao’s Meetings, Incentives, Conferences, and Exhibitions (MICE) industry – has put an emphasis on the sustainable development of the Macao convention and exhibition industry, including the training of industry professionals. IPIM organised a delegation of 20 representatives from the Macao convention and exhibition industry that joined the training seminar in Dalian. Irene V.K. Lau, Executive Director of IPIM, headed the delegation. Kang Wen, Deputy Director General of the Department of Taiwan, Hong Kong and Macao Affairs Ministry of Commerce and Zhou Ming Jie, Vice Chairman of China Council for the Promotion of International Trade Dalian Branch Office gave welcoming speech at the training session’s opening ceremony on 10 August. At a networking dinner attended by representatives from relevant MICE-related sectors on the Mainland, Ms. Lau gave a brief presentation about the development of Macao’s MICE industry. Ms. Lau said she hoped such training sessions could help develop the professional skills of Macao people working in the MICE industry, sharpening further the industry’s competitive edge and enhance exchanges and cooperation between the convention and exhibition industry in Mainland China and that in Macao. The Training Center of the China Council for the Promotion of International Trade (CCPIT) and the CCPIT Dalian assisted the organisation in inviting experts and experienced professionals as instructors for the four-day training session. The training session analysed and discussed the trends and characteristics of the development of the convention and exhibition industry under the new market fundamentals. In addition, participants visited the venue and related facilities of the BIT Congress Inc. and Dalian International Conference Center.
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The Government continues to coordinate follow-up work on the case of a recent tourist bus accident, in order to provide all necessary practical assistance to those affected by the incident. A total of 11 mainland tourists were still being treated in Kiang Wu Hospital as of today, including one person admitted yesterday (11 August) with headache and hypertension. Of the 11 tourists still receiving treatment, two female patients are still in the intensive care unit: one remains in a coma after head surgery; the condition of the other patient is improving. The remaining nine patients that are still in hospital are each in a stable condition. Among the 44 mainland tourists involved in the accident, a total of 24 have left Macao. A total of nine tourists remain in Macao, either to accompany family members injured in the accident, or for discussions with their respective travel agent regarding insurance matters. Seven relatives – of accident victims still in the hospital – have come to Macao to accompany their respective family members. They are staying in a hotel arranged by a travel agent. The Health Bureau is in close contact with Kiang Wu Hospital regarding the respective condition of each of the accident victims still hospitalised. The Tourism Crisis Management Office would deal with any enquiry – regarding insurance matters – from tourists involved in the accident. The bus accident occurred on Monday (8 August) when the vehicle carrying 44 mainland tourists crashed into a building in Rua da Entena, near Kiang Wu Hospital. As well as causing injury to passengers of the bus, the crash seriously damaged one of the building’s supporting pillars. The Land, Public Works and Transport Bureau concluded that – following the accident – five apartments and one shop in the affected building were temporarily not safe to enter. The Government has taken measures to reinforce structure of the building and has been monitoring the safety of the structure. Measurements taken showed that the building structure is in general a stable condition. The Bureau would draft – within 10 days – a repair plan for the affected building. The Government will hold tomorrow (13 August) a meeting with the occupants of the building to help them gain a better understanding of the current status of the building structure. A total of six people that used to live in the damaged building are currently staying at the Centre for Victims of Disaster, following emergency arrangements by the Social Welfare Bureau. These people are currently not authorised to return to their homes due to safety reasons. The Bureau had also arranged for 18 people from a total of four families to be placed in hotel accommodation as a temporary measure. These people will be transferred on Sunday (14 August) to temporary accommodation managed by the Bureau.
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The Government has authorised integrated resort Wynn Palace to operate a total of 150 new-to-market live-dealer gaming tables – all mass market – and 1,145 electronic gaming machines, said today the Secretary for Economy and Finance, Mr Leong Vai Tac. A first batch of 100 gaming tables – out of the total 150 new-to-market tables – would be made available to the resort on time for the opening, scheduled for this year. The remaining 50 new-to-market gaming tables would become available in two separate phases: 25 tables on 1 January 2017; and the remaining 25 tables on 1 January 2018, said Mr Leong. Mr Leong stated that – when assessing applications for gaming tables – the Government would strictly follow the principle of allowing a compound annual growth rate in new-to-market tables of no more than 3 percent for a 10-year period from 1 January 2013. The Secretary added that the Government had received an application for new-to-market gaming tables for integrated resort Parisian Macao. He stated that the application was being reviewed. The Government would take into consideration the following criteria while reviewing applications for new-to-market gaming tables: whether a new project would contribute to the transformation of Macao into a world centre of tourism and leisure; what each resort had to offer in terms of non-gaming offerings; and the degree of each project’s integration in business terms with local small- and medium-sized enterprises.
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Given the recent situation in Thailand, the Embassy of the P.R.C in Thailand issued a travel security alert to Chinese citizens. Following is the translated version of the full text: "Since the 11th of August explosions have occurred in Thailand, resulting in casualties. The Embassy of the P.R.C urges Chinese nationals who intend to visit Thailand to closely monitor the local security situation, reinforce safety measures and avoid places with large concentration of people. In case of emergency, contact the following: Thailand Emergency Hotline: 191 Tourism Police Hotline: 1155 (Service in Chinese) Consular protection hotline of the Embassy: 085-483-3327 Consulate General in Khon Kaen: 080-936-6070 Consulate General in Chiang Mai: 081-882-3283 Consulate General in Songkha: 081-766-5560 Consular protection hotline for the Consulate General in Songkha and Phuket: 094-595-6168 Global Emergency Call Center for Consular Protection and Services of the Ministry of Foreign Affairs of China: +86-10-12308 / +86-10-59913991. (This alert remains valid until the 26 of August 2016)" The Tourism Crisis Management Office (GGCT) will keep monitoring the latest developments and alerts Macao residents who intend to travel to Thailand to follow closely the situation, critically assess the security risks and cautiously consider their travel plans. Macao residents already Thailand should strengthen security precautions to protect their personal safety. Until the present moment, GGCT has received 2 requests for information and no requests for assistance. If necessary, Macao residents can call: 24-hour Tourism Hotline (853) 2833 3000 The Chinese Embassy and consulates or the Global Emergency Call Center for Consular Protection and Services of the Ministry of Foreign Affairs 24-hour hotline: +86 10 12308 for assistance.
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The Chief Executive, Mr Chui Sai On, said he believed Macao’s tourism industry has great growth prospects, especially following ongoing enhancements in the city’s tourism facilities and services. The Government would step up efforts to promote a healthy development of the tourism industry, said Mr Chui. The Government’s strategies for a coordinated development of the city’s tourism industry include: an in-depth study about the development opportunities generated by Macao’s first Five-Year Development Plan; the establishment of the Committee for Development of the World Centre of Tourism and Leisure; and the drafting of the Macao Tourism Industry Development Master Plan. Mr Chui made the remarks on Thursday (11 August) during this year’s second meeting of the Committee for Development of the World Centre of Tourism and Leisure. Mr Chui chairs the Committee. Macao has been positioned to be developed as a world centre of tourism and leisure. This development strategy is part of the national development blueprint as outlined in both the country’s 12th and 13th Five-Year Plan, said Mr Chui. Following the several recent rounds of public consultation, the Government would soon complete drafting Macao’s first Five-Year Development Plan, which focuses on the city’s socio-economic development spanning the period from 2016 to 2020. In the coming five years, the Government’s policies would be focused on: pushing forward the steady development of Macao according to existing plans; prioritising social welfare measures and other projects related to people’s livelihood; and promoting a balanced and sustainable economic development. The Macao Tourism Industry Development Master Plan aims to support the development of the city into a world centre of tourism and leisure, Mr Chui said. The Master Plan would set out measures to promote the transformation of Macao into a renowned world destination, with prominent tourism events and a diverse leisure offering. Transforming Macao into a world centre of tourism and leisure is an important initiative for the city and is having a positive impact on socio-economic development, added the Chief Executive. Officials attending Thursday’s meeting included: the Secretary for Economy and Finance, Mr Leong Vai Tac; the Secretary for Social Affairs and Culture, Mr Tam Chon Weng; the Secretary for Transport and Public Works, Mr Raimundo do Rosário; the Chief-of-Office of the Chief Executive’s Office, Ms O Lam; the Government Spokesperson, Mr Chan Chi Ping; the Director of the Policy Research Office, Mr Lao Pun Lap; Consultants to the Chief Executive’s Office, Mr Wu Kan and Ms Lei Ngan Leng; and the Deputy Director of the Policy Research Office, Mr Ung Hoi Ian.
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The Tourism Crisis Management Office (GGCT) is paying close attention to the explosions which occurred in Thailand. From the information gathered through the Office of the Commissioner of the Ministry of Foreign Affairs of the PRC in the MSAR and the Macao travel industry, until the present moment, there is no indication that any Macao tour groups or Macao resident has been affected. Until the present moment, GGCT has not received any request for information or assistance. If necessary, Macao residents can call: 24-hour Tourism Hotline (853) 2833 3000; The Chinese Embassy and Consulates or the Global Emergency Call Center for Consular Protection and Services of the Ministry of Foreign Affairs 24-hour hotline: +86 10 12308 for assistance.
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According to statistics released today by the Monetary Authority of Macao, new small and medium-sized enterprise (SME) lending approved by Macao banks dropped in the first half of 2016. On the other hand, the utilisation of SME credit in proportion to the credit limit approved rose when compared with the previous survey period. The outstanding balance of SME delinquent loans recorded a decline. New lending approved In the first half of 2016, new SME credit limit approved by Macao banks totalled MOP9.9 billion, down by 51.8% from the second half of 2015 or 44.8% from the same period last year. The collateralised ratio, which indicates the proportion of credit limit with tangible assets pledged, was 81.5%, down 2.1 percentage points when compared with the last survey period but up 3.1 percentage points when compared with the same period of 2015. Credit utilisation As at end-June 2016, the outstanding value of total SME loans increased 1.5% from end-December 2015 or 3.8% from a year earlier to MOP67.7 billion. When compared with end-December 2015, SME loans to “manufacturing” and “construction and public works” increased at respective rates of 28.1% and 6.0% whereas those to “transport, warehouse and communications”, “wholesale and retail trade” and “restaurants, hotels and similar activities” dropped 13.3%, 9.4% and 8.6% respectively. The utilisation rate, defined as the proportion of outstanding credit balance to the credit limit granted, increased 0.5 percentage points from six months ago to 61.7%. Delinquent loans At end-June 2016, the outstanding balance of delinquent SME loans dropped by 16.3% from six months ago to MOP306.4 million. Compared to a year ago, the balance grew 56.5%. The delinquency ratio, a ratio of delinquent loans outstanding balance to total SME loans outstanding, declined 0.10 percentage point from end-2015 but rose 0.15 percentage points from a year earlier to 0.45%.
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The Macao Art Museum (MAM) under the Cultural Affairs Bureau, has been organizing the “Macao Arts Window” since 2012, which aims to encourage creativity and promote the development of contemporary art in Macao. The theme of this edition of the “Macao Arts Window” is the exhibition “Geometry of the universe: 3D and multimedia works by Akin Vong”, the vernissage was held today, 11 August, at 6:30pm, on the third floor of the MAM. The artist gave a finishing touch to his works by varnishing them. The “Macao Arts Window” aims to provide an open and diverse exhibition space and exchange platform and to encourage local artists to explore and express the concepts and forms of contemporary art. Akin Vong was born in Macao. As an illustrator, Akin works in traditional media, digital images and animation, as well as lighting design, and design of themed exhibitions for malls. Akin is one of the winners of First Prize in the Painting and Sculpture categories of the Phillippe Charriol Foundation Annual Art Competition and has won several scholarships, allowing him to carry out study visits to Europe and the United States. In 2011 he was one of the winners of the Hong Kong Ten Outstanding Designers Awards. The artist combines the basic geometric elements with time, rhythm, patterns, sizes, angles and hues, and creating unlimited images in these works. In the world of geometry he sees an infinite universe, which evolved from a point to a line, a plane and a cube. He thinks that the universe is infinite! Just in a single drop of seawater microscopic creatures abound. A man can be very small or very big, depending on the perspective. Everyone has his/her own value, once they found their balance point! The exhibition “Geometry of the universe: 3D and multimedia works by Akin Vong” is held until 25 September 2016 at the Macao Museum of Art, located in NAPE, Avenida Xian Xing Hai, and is open daily from 10am to 7pm (no admission after 6:30pm; closed on Mondays). Admission fee is MOP5 and admission is free on Sundays and public holidays.
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The Chief Executive, Mr Chui Sai On, will lead an official delegation to Beijing on Monday (15 August) for meetings to discuss Macao’s first Five-Year Development Plan. During his visit to Beijing, Mr Chui is scheduled to meet with officials from several ministries and departments, to discuss the Plan. Following the several recent rounds of public consultation, the Government now expects it will be possible to release in September the final version of the Plan. Several experts that were involved in the Five-Year Development Plan initiative will accompany Mr Chui to Beijing. Members of the Macao delegation will include: the Chief-of-Office of the Chief Executive’s Office, Ms O Lam; the Director of the Policy Research Office, Mr Lao Pun Lap; the Consultant to the Chief Executive’s Office, Ms Lei Ngan Leng; member of the Social, Economic and Public Policy Research Centre of the Macao Polytechnic Institute, Mr Chen Qingyun; the Deputy Director of the Policy Research Office, Mr Ung Hoi Ian; and member of the Social, Economic and Public Policy Research Centre of the Macao Polytechnic Institute, Mr Yin Yifen. Mr Chui will return to Macao on 17 August. During his absence, the Secretary for Administration and Justice, Ms Chan Hoi Fan, will be Acting Chief Executive.
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