News

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP145.3 billion (USD18.21 billion) at the end of September 2015. The reserves increased by 0.2% from the revised value of MOP145.1 billion (USD18.17 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-September 2015 represented 13 times the currency in circulation or 108.6% of Pataca M2 at end-August 2015. The trade-weighted effective exchange rate index for the pataca rose 0.07 points month-to-month and 6.90 points year-on-year to 105.79 in September 2015, implying that overall speaking, the pataca appreciated against the currencies of Macao’s major trading partners.
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The Government will strive to create a better working environment for Macao’s judicial system, in order for it to deliver justice more efficiently and effectively, the Chief Executive, Mr Chui Sai On, said today. That includes the construction of a building exclusively to house the city’s judicial authorities, Mr Chui added. Mr Chui said the Government would continue working on the revision of the organic law of the judiciary and other related legislation, and providing support for the training of judicial personnel. Mr Chui made the comments at the opening ceremony of the 2015/2016 Judicial Year, held at the Macao Cultural Centre this afternoon. The Chief Executive said the Government would continue to review and improve Macao’s existing legislation. He added that the Government would actively cooperate with judicial authorities, especially in cases involving the Government. In his speech, Mr Chui reiterated the principles of safeguarding judicial independence and ruling in accordance with law as stipulated in the Basic Law. He added that these principles make up the foundation to effectively promote Macao’s development. The Government has been firmly adhering to the rule of law since the establishment of the Macao Special Administrative Region 16 years ago, he stated. Mr Chui additionally said Macao would continue to enjoy judicial independence and the power of final adjudication as stipulated in the Basic Law. Judicial independence is the cornerstone for Macao to realise the principles of “One country, two systems”, “Macao people governing Macao” and a high degree of autonomy. It is also the basis for Macao to guarantee the city’s long-term social stability. Mr Chui noted that the city’s economy is currently undergoing a period of adjustment. He said the Government would do its best to seize the opportunities brought in by mainland China’s development. That, coupled with the support from the society – including Macao’s judicial authorities – would benefit social development and the progress of the city’s judicial system, he added.
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Consumer Council conducted its fifth ‘Supermarket price survey’ in October on 14 October for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included supermarkets at Lam Mau, Patane and San Kio areas in Santo António Parish. The latest ‘Supermarket Price Survey’ is now available on Consumer Council’s website (www.consumer.gov.mo), ‘Supermarket Price Information Platform’ iPhone and Android apps, and on the Council’s WeChat account page. 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 lower charges for hotel accommodation and reduced prices of clothing brought the Tourist Price Index (TPI) for the third quarter of 2015 down by 2.72% year-on-year to 131.46, the first decline since the third quarter of 2002. Notable decrease was observed in the price index of Accommodation (-10.88%) and Clothing & Footwear (-6.96%); meanwhile, price index of Food, Alcoholic Beverages & Tobacco; Transport & Communications; and Entertainment & Cultural Activities increased by 5.87%, 3.94% and 3.14% respectively. TPI for the third quarter of 2015 dropped by 2.34% quarter-to-quarter. Price index of Clothing & Footwear and Accommodation fell by 6.78% and 5.28% respectively due to seasonal sale of ladies’ summer clothing and lower hotel room rate. However, higher airfare drove up the price index of Transport & Communications by 1.67% quarter-to-quarter. The average TPI for the last four quarters ended the third quarter of 2015 increased by 0.55% from the previous period, with marked increase being observed in the price index of Restaurant Services (+5.78%); Food, Alcoholic Beverages & Tobacco (+5.12%); and Entertainment & Cultural Activities (+4.82%). For the first three quarters of 2015, TPI went down by 0.10% year-on-year, of which price index of Accommodation decreased by 5.86%; meanwhile, price index of Restaurant Services and Food, Alcoholic Beverages & Tobacco increased by 4.92% and 4.76% respectively. TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.
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Themed as “Belt and Road Initiative: Unleashing the New Dynamics of Cultural Tourism”, the Global Tourism Economy Forum • Macau 2015 adjourned today (13 October) with tremendous success. The Global Tourism Economy Forum (“GTEF” or “the Forum”) has effectively fostered multilateral cooperation through its advanced platform for international exchange and cooperation in tourism, gathering nearly 60 ministerial officials from different countries, leaders from globally‐renowned private corporations, as well as experts and scholars from worldwide to discuss the necessity of leveraging cultural tourism to capitalize on opportunities from the Belt and Road Initiative. Delegates from different countries and cities around the world found their attendance in this edition rewarding. Dr. Alexis Tam, Secretary for Social Affairs and Culture of the Macao Special Administrative Region Government and Executive Chairman of GTEF, stated in his closing remarks that the Forum has unfolded a lively dialogue on how a partnership between culture and tourism can fuel new momentum for economic growth. Prestigious ministers and officials from different countries, prominent leaders of international tourism organizations, private-sector stakeholders, experts and other panelists have outlined the latest tourism trends and pointed out a clear direction and practical advices. Their discussions have opened up a valuable avenue for forging more far-reaching regional collaboration at a deeper and higher level. Secretary Tam added that UNWTO has partnered with the Global Tourism Economy Research Centre to jointly present their Annual Report on Asia Tourism Trends at the Forum, allowing policy makers and industry leaders to further harness their strength and enhance policy coordination in the region with a precise perspective. As the Secretary also pointed out, the Belt and Road Initiative advocates mutual development and win-win cooperation. Regional collaboration is an essential path for all destinations to achieve sustainability. Being one of the key hubs along the Maritime Silk Road and a major gateway that connects China to the world, Macao is dedicated to supporting and contributing to the vision and actions of the Belt and Road Initiative. Sparing no effort to promote urban development and harness Macao’s unique advantages in culture and tourism, the SAR Government will recognize the vast scope of opportunities for mutually beneficial cooperation among countries and cities along the Belt and Road to forge new partnerships with different international partners. Ms. Pansy Ho, Vice Chairman and Secretary‐General of GTEF, concluded this edition, “Throughout history, Macau has always been a platform that brings people together to trade, to exchange ideas, and to work together. Ho continues, “As the Secretary General of UNWTO eloquently expressed, globalization has made us so similar, but tourism brings out the beauty of our uniqueness and diversity, giving character and individuality to each culture. Macau in its strategic physical and historic location stands ready to optimize the Belt and Road Initiative to offer multi-dimensional, multi-faceted and multi-cultural offerings that will give its visitors and its residents lasting collective experience and memories, and create a virtuous cycle of positive and enriching influence from the visitors to the residents, and vice versa.” More than 1,200 delegates from different countries and cities, including Featured Partner Countries Chile, Colombia, Mexico and Peru as well as provincial and municipal delegations from China attended the event, while over 200 local and overseas media representatives were present and covered the event, representing a 42% and 54% growth compared with the first edition of GTEF. The fifth edition of GTEF will be held in Macao in 2016. The organizer is looking forward to carrying on the achievements and invaluable experience from the first four editions and injecting more innovations into the next edition in terms of both program and format, ensuring that the Forum’s participating partners can go forward with further exchanges and cooperation in tourism across industries, sectors and regions through GTEF as an international platform.
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The Chief Executive, Mr Chui Sai On, today highlighted three major tasks that need to be performed regarding the clarification of Macao’s role in the management of its customary waters. The three tasks are: development of related regulation; training of professionals; and the acquisition of necessary equipment. These are part of the Government’s efforts to prepare for the new role of managing its customary waters, Mr Chui said. Mr Chui’s comments were made in a meeting with members of an interdepartmental group handling the preparatory works. Earlier in the day, Mr Chui inspected Macao’s maritime waters, including visits to the Taipa waterway, the Outer Harbour and a sea area to the east of the Macau International Airport. The Chief Executive told members of the interdepartmental group to pay close attention to planning, including issues related to management, safety and security of Macao’s customary waters. Mr Chui added that proper handling of these issues would benefit Macao’s coastal economy. The meeting with the members of the interdepartmental group was held in the Outer Harbour Ferry Terminal. The Chief Executive was briefed on the progress made in delimiting Macao’s customary waters and provided with a schedule of works. In addition, he was also briefed on the plans to manage Macao’s customary waters and the next stage of works. Mr Chui praised the group’s efforts and expressed gratitude for the support provided by the Hong Kong and Macao Affairs Office of the State Council, the Guangdong Provincial Government and related Central Government agencies. Officials attending the inspection and meeting included: the Secretary for Security, Mr Wong Sio Chak; the Director-General of Macao Customs Service, Ms Lai Man Wa; the Chief-of-Office of the Chief Executive’s Office, Ms O Lam; the Director of the Government Information Bureau, Mr Chan Chi Ping; the Director of the Marine and Water Bureau, Ms Wong Soi Man; the Director of the Cartography and Cadastre Bureau, Mr Cheong Sio Kei; the Director of the Legal Affairs Bureau, Mr Liu Dexue; the Acting Commissioner of the Public Security Police Force, Mr Chan Man Tak; and the advisor to Chief Executive’s Office, Mr Ko Chin Hung.
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Information from the Statistics and Census Service (DSEC) indicated that inward direct investment flows declined by 27.2% year-on-year to MOP 26.3 billion in 2014, as reinvested earnings were reduced by dividend distributions of some enterprises. The inflows were concentrated in Gaming (MOP 12.4 billion), Banks & Securities (MOP 4.9 billion) and Wholesale & Retail (MOP 3.6 billion). Analysed by country/territory of usual residence of direct investors, inflows of direct investment from the British Virgin Islands, the Cayman Islands and Hong Kong totalled MOP 8.4 billion, MOP 5.7 billion and MOP 5.5 billion respectively. On the other hand, outward direct investment flows of Macao enterprises amounted to MOP 5.4 billion, resulting in a net inflow of MOP 20.9 billion in 2014. In 2014, inward direct investment income reached MOP 85.0 billion, up by 7.5% year-on-year. Inward direct investment income earned by gaming enterprises hit a record high of MOP 57.1 billion, up by 2.7% year-on-year; income from direct investment in Banks & Securities (MOP 9.1 billion) and Wholesale & Retail (MOP 8.8 billion) rose by 26.8% and 4.6% respectively. Meanwhile, outward direct investment income earned by Macao enterprises amounted to MOP 0.7 billion, up by 174.6% year-on-year; income earned by gaming enterprises from outward direct investment increased significantly by 169.4% to MOP 0.4 billion. At the end of 2014, stock of inward direct investment of Macao reached MOP 218.9 billion, up by 15.5% year-on-year. Analysed by industry, inward direct investment stock in Gaming increased by 11.4% to MOP 128.1 billion, with 52.7% coming from the Cayman Islands; Banks & Securities had MOP 37.9 billion (+18.7%), of which capital from Mainland China accounted for 55.8%; Wholesale & Retail had MOP 22.1 billion (+32.8%), with investment from Hong Kong sharing 57.7%. Analysed by country/territory, inward direct investment stock from the Cayman Islands (MOP 72.4 billion), Hong Kong (MOP 54.7 billion) and the British Virgin Islands (MOP 50.3 billion) rose by 9.7%, 14.7% and 20.2% respectively year-on-year. Stock of outward direct investment of Macao enterprises increased by 26.4% year-on-year to MOP 31.4 billion. Investment in Hong Kong amounted to MOP 5.6 billion and that in Mainland China totalled MOP 5.2 billion, of which MOP 3.9 billion was invested in Guangdong with MOP 1.6 billion in Zhuhai (including Hengqin). Analysed by industry of Macao enterprises, outward direct investment stock of Gaming (MOP 25.7 billion) and Wholesale & Retail (MOP 4.2 billion) increased by 27.4% and 4.8% respectively. Direct Investment Statistics provide an analysis of the direct investment profile of Macao with other economies. For statistical purposes, Macao and Mainland China are considered as two economies. Coverage of Direct Investment Statistics includes the major industries of Macao, namely Industrial Production; Construction; Wholesale & Retail; Hotels & Restaurants; Transport, Storage & Communications; Financial Services; Gaming; and Cultural, Recreational & Other Services. In 2014, there were 2,469 enterprises involved in inward direct investment.
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For the implementation of Section 2b), Article 10, Law 4/95/M of 12 June, Consumer Council conducted its specific price surveys on fresh, refrigerated, and frozen pork on 13 October. Result of the mentioned survey has been uploaded to the Council’s website (www.consumer.gov.mo). For inquiry, please call the Council’s hotline: 8988 9315.
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The Global Tourism Economy Forum (“GTEF” or “the Forum”), an annual mega event for the tourism industry, resumed its second-day program today (13 October). Themed as “Belt and Road Initiative: Unleashing the New Dynamics of Cultural Tourism”, the Forum put on a range of forward-thinking discussions on ways to foster cooperation between culture and tourism for economic growth under the context of the Belt and Road Initiative. This Forum edition renews its collaboration with the World Tourism Organization (UNWTO) in co-organizing the much anticipated Face to Face, Ministers and Private Sector CEOs session, featuring direct dialogue between Asian and Latin American tourism ministers and private leaders from globally‐renowned corporations. With an UNWTO estimate on expected international tourist arrivals to reach 1.8 billion by 2030, and almost 40% of the tourists traveling on a cultural motivation, the session initiated discussion on how tourism leaders in the public and private sectors can build on the momentum started by the Silk Road tourism and incorporate the Belt and Road initiative to unleash the dynamics of cultural tourism, optimize software and hardware connectivity, and reinvent cross-regional connections of historical and cultural roots, in order to make the topic “Abridging our Distances through Connectivity” come true in the world. Headlined by lead speaker Dr. Taleb Rifai, Secretary-General of UNWTO, the dialogue was joined by dignitaries including Mr. Thong Khon, Minister of Tourism, the Kingdom of Cambodia; Ms. Sandra Howard Taylor, Vice Minister of Commerce, Industry and Tourism, Colombia; Mr. Du Jiang, Vice Chairman of China National Tourism Administration; Dr. Alexis Tam, Secretary for Social Affairs and Culture of the Macao SAR Government; Mr. Alejandro Schiavi, Undersecretary of Coordination, Ministry of Tourism, Argentina; Mr. Rodolfo López Negrete Coppel, Chief Executive Officer of Mexico Tourism Board, as well as private leaders like Ms. Pansy Ho, Managing Director of Shun Tak Holdings Limited; Mr. Gerald Lawless, President and Group Chief Executive Officer of Jumeirah Group; Mr. Peter Meier, Chief Executive Officer of Kuoni Group; Mr. Qian Jiannong, Vice President of Fosun Group; Mr. Francisco Silva Silva, Chairman of the Board of Grupo Security and Mr. Zhang Ling, Chairman of HNA Tourism Group Co. Ltd. On the issue of how public and private sectors can create synergy between Silk Road tourism and Belt and Road initiative, lead speaker of the Session Dr. Taleb Rifai, Secretary-General of UNWTO and Honorary Chairman of GTEF said, “Culture and tourism public and private sectors should work together towards promoting governance models and initiatives and also promoting culture as a means to add value to the tourism experience.” During the session, Dr. Alexis Tam, Secretary for Social Affairs and Culture of the Macao SAR Government elaborated the city’s historic and cultural roots, which can make a strong tie that connects Macao with peoples of different regions around the world, with more friendly visits, exchanges and cooperation based on Macao’s diverse cultural gems, such as cultural heritage, religion, Macanese community, returned overseas Chinese and immigrants as well as historic connections with Portugal. This was followed by the Technical Presentation on Joint Research Project of UNWTO and GTERC. Co-presented by Mr. John Kester, Director of Tourism Market Trends Programme, UNWTO; and Ms. Maria Helena de Senna Fernandes, Director of Macau Government Tourist Office, a broader scope of study comprising market analysis of Asia Tourism trends, specific highlights on the Pacific Alliance countries and the linkage between urban tourism and culture were presented. The Presentation familiarized delegates on the latest tourism market development.
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The Chief Executive, Mr Chui Sai On, on 12 October met with the Prime Minister of the Kingdom of Cambodia, Mr Hun Sen. During the meeting, at the Santa Sancha Palace, Mr Chui and Mr Hun Sen exchanged views on how to strengthen cooperation between Macao and Cambodia. Mr Chui welcomed the Cambodian Prime Minister to Macao and thanked him for attending the opening ceremony of the Global Tourism Economy Forum • Macau 2015. He noted that Macao and Cambodia have strong bilateral ties covering several areas, including tourism, business and trade. Mr Chui said he hoped that Mr Hun Sen’s visit to Macao could help extend cooperation to other areas, such as culture, training of human resources and exchange of expertise. Mr Hun Sen, visiting Macao for the first time, noted that Macao and Cambodia were both part of the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative (also known as “Belt and Road”), put forward by the President of the People’s Republic of China, Mr Xi Jinping. This could help further promote cooperation between Macao and Cambodia, he said. Mr Hun Sen said cooperation between Cambodia and Macao could be intensified in three areas, namely trade, investment and tourism. He added that Cambodia already exports several agricultural goods to mainland China – chiefly rice – and could also increase exports to Macao. The Cambodian Prime Minister noted Macao’s stable economic environment and added that Macao enterprises were welcome to invest in Cambodia. He said launching direct flights between Cambodia and Macao would not only boost bilateral ties but also encourage exchanges between Cambodia and cities close to Macao. The Chief Executive shared the same views. He said the Macao Government would actively explore the possibility of launching direct flights between Macao and Cambodia. Regarding trade and investment cooperation, the Macao Trade and Investment Promotion Institute would serve as a platform to provide support to enterprises from Macao seeking to invest in Cambodia, he stated. Mr Chui additionally said the Cambodian Government could make use of Macao’s role as a commercial and trade cooperation service platform between China and Portuguese-speaking countries to promote its agricultural products overseas. Cambodian representatives attending the meeting included: Deputy Prime Minister and Minister in Charge of the Office of the Council of Ministers, Mr Sok An; the Ambassador of the Kingdom of Cambodia to the People’s Republic of China, Ms Lok Chumteav Khek Cai Mealy Sysoda; the Minister of Tourism, Mr Thong Khon; and the Minister of Posts and Telecommunications, Mr Prak Sokhonn. Representatives of the Macao Government in the meeting included: the Secretary for Administration and Justice, Ms Chan Hoi Fan; the Secretary for Social Affairs and Culture, Mr Tam Chon Weng; the Chief-of-Office of the Chief Executive’s Office, Ms O Lam; and the Director of Protocol, Public Relations and External Affairs Office, Mr Fung Sio Weng.
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