News

According to the statistics released today by the Monetary Authority of Macao, the proportion of international business in the local banking sector retreated slightly in the third quarter of 2014. At end-September 2014, the share of international assets in total banking assets fell to 86.5% from 87.2% at end-June 2014, while the share of international liabilities in total banking liabilities dropped to 82.1% from 82.8%. Foreign currencies continued to be the dominant denomination in international banking transactions. At end-September 2014, the shares of Pataca (MOP) in total international assets and total international liabilities were 0.7% and 1.5% respectively. Hong Kong Dollar (HKD) and Other Foreign Currencies (OFCs) accounted for 37.4% and 61.9% of total international assets as well as 43.2% and 55.3% of total international liabilities respectively. International Banking Assets
At end-September 2014, total international assets fell marginally by 1.0% from a quarter ago but advanced by 24.0% from a year earlier to MOP1,008.7 billion (USD126.1 billion). Within this total, external assets increased by 18.5% year-on-year to MOP754.1 billion while local assets in foreign currencies jumped by 43.4% to MOP254.6 billion. As a major component of international assets, external interbank loans grew by 8.7% to MOP354.8 billion. International Banking Liabilities
Total international liabilities decreased slightly by 1.1% from three months ago but increased by 23.2% year-on-year to MOP958.1 billion (USD119.8 billion). Of this total, external liabilities and local liabilities in foreign currencies expanded year-on-year by 24.9% to MOP495.0 billion and 21.4% to MOP463.0 billion respectively. Foreign currency deposits held by residents and the MSAR government continued to form a major component of international liabilities. This type of deposits grew by 18.4% to MOP423.9 billion at end-September 2014 from MOP358.0 billion at end-September 2013. Breakdown of External Banking Assets and Liabilities by Region
The majority of external assets and liabilities were related to the regions of Asia and Europe. At end-September 2014, claims on Mainland China, Hong Kong and Singapore occupied 36.1%, 32.0% and 2.0% of total external assets correspondingly, while claims on Portugal, the United Kingdom and Germany took up 6.3%, 1.6% and 1.5% respectively. On external liabilities, Hong Kong, Mainland China and Thailand accounted for 47.1%, 20.5% and 8.7% of the total respectively while France, Portugal and Germany took up respective shares of 3.3%, 2.2% and 1.6%. The compilation of International Banking Statistics follows the methodology advocated by the Bank for International Settlements in order to facilitate Macao SAR's participation in the "Locational International Banking Statistics" project of the international organisation.
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Consumer Council conducted its fifth 'Supermarket price survey' in November on 18 November 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), 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 spending (excluding gaming expenses) of visitors in the third quarter of 2014 reached MOP15.5 billion, up by 5% from MOP14.8 billion in the third quarter of 2013. Spending of overnight visitors totalled MOP12.9 billion and that of same-day visitors was MOP2.6 billion, up by 5% and 3% respectively year-on-year. Per-capita spending of visitors in the third quarter of 2014 was MOP1,878, down slightly by 1% year-on-year. Visitors from Mainland China spent an average of MOP2,220, a decrease of 4% year-on-year, and spending of those travelling under the Individual Visit Scheme (IVS) was MOP2,758. Per-capita spending of visitors from Japan increased by 12% year-on-year to MOP1,954, and that of visitors from Singapore (MOP1,927), Malaysia (MOP1,798) and Taiwan (MOP1,653) also registered increase. Visitors from the United Kingdom had relatively high per-capita spending among the long-haul visitors, at MOP1,563, up substantially by 38% year-on-year. Per-capita spending of overnight visitors increased by 4% year-on-year to MOP3,310, while that of same-day visitors decreased by 8%, at MOP599. Per-capita spending of overnight and same-day Mainland visitors topped at MOP3,933 and MOP707 respectively, and that of overnight and same-day IVS visitors reached MOP4,940 and MOP1,185. Moreover, per-capita spending of overnight visitors from Taiwan was MOP3,478. Analysed by consumption structure, visitors spent mainly on Shopping (49%), Accommodation (26%) and Food & Beverage (18%) in the third quarter of 2014. Per-capita shopping spending of visitors increased slightly by 1% year-on-year to MOP921, and the preferred shopping items included Jewellery & Watches (26%), Local Food Products (22%) and Handbags & Shoes (18%). Analysed by place of residence, visitors from Mainland China spent an average of MOP1,260 on shopping and that of IVS visitors reached MOP1,726; shopping spending of Hong Kong visitors was merely MOP143. Meanwhile, long-haul visitors spent primarily on Accommodation and Food & Beverage. According to the results of Visitors' Comments Survey in the third quarter, about 86% of the visitor-users were satisfied with the services and facilities of hotels, and 84% complimented about the services of travel agencies; however, merely 47% of the visitors commented that points of tourist attractions were adequate, and 17% considered that public transport services should be improved.
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To celebrate the 90th Anniversary of the Principal of Tong Nam School, Pat I Man, Macao Post announces that a Temporary Post Counter will be set up at Praça de Luís de Camões, n° 5-7, at 9:30 to 12:30 on 28th November 2014 providing the commemorative postmark cancellation service for the "90th Anniversary of the Principal of Tong Nam School, Pat I Man". A commemorative envelope priced at MOP2.50 will be issued, and various philatelic products will also be available for sale during the above activity. Welcome to visit us and collect Macao Stamps!
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To celebrate the AICEP Leaders Conference, Macao Post announces that a Temporary Post Counter will be set up at our Philatelic Shop located at Macao Post Headquarters at 9:00 to 17:30 on 27th November 2014 providing the commemorative postmark cancellation service for the "AICEP Leaders Conference". A commemorative envelope priced at MOP2.50 will be issued. Welcome to visit us and collect Macao Stamps!
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Macao Post will issue a Christmas card with the image of a "Little Angel". This card will be available for sale at the Macao Post Headquarters, all post offices and postal kiosks on the 25th November, 2014. This greeting card priced at MOP11.00 each, can be sent to every corner of the world without stamp. It's saving your time and money.
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Consumer Council conducted its specific price survey on over-the-counter drugs on 17 November for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Result of the mentioned survey has been uploaded to the Council's website (www.consumer.gov.mo) and is available in the Council's 'Supermarket Price Information Platform' iPhone and Android apps. For inquiry, please call the Council's hotline: 8988 9315.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 2,402 establishments were operating in the Transport, Storage & Communications Sector in 2013, up by 222 year-on-year; number of persons engaged increased by 491 to 17,191. Total Receipts reached MOP 25.04 billion and Total Expenditure was MOP 21.95 billion, both up by 7% year-on-year. Gross Value Added that measures the sectoral contribution to the economy amounted to MOP 7.37 billion, up by 10% year-on-year; Gross Fixed Capital Formation increased by 14% to MOP 1.12 billion. There were 2,375 establishments operating in the Transport & Storage Sector, an increase of 226 year-on-year; number of persons engaged increased by 437 to 15,105. With new taxis providing service, number of taxis rose by 137 to 1,068. Besides, there were 460 establishments operating in Supporting & Auxiliary Transport Activities (including 211 travel agencies and 11 warehouses), up by 25 year-on-year; number of persons engaged increased by 224 to 6,573. Total Receipts of the Transport & Storage Sector reached MOP 17.48 billion, up by 8% year-on-year. Attributable to an increase in visitor arrivals and vigorous growth in outbound travel of Macao residents, Receipts from Passenger Transport increased by 10% year-on-year to MOP 7.99 billion, of which Receipts from Air Transport totalled MOP 4.24 billion. Meanwhile, Receipts from Services Rendered amounted to MOP 5.77 billion, with the majority coming from Travel Agencies (MOP 5.22 billion). Total Expenditure increased by 7% year-on-year to MOP 15.97 billion, of which Operating Expenses (MOP 7.65 billion), Purchase of Goods & Services and Commission Paid (MOP 5.07 billion) and Compensation of Employees (MOP 2.76 billion) rose by 8%, 3% and 14% respectively. Gross Value Added of the Transport & Storage Sector totalled MOP 4.72 billion, up by 14% year-on-year. Gross Fixed Capital Formation surged by 39% to MOP 467 million on account of an increase in acquisition of motor vehicles, machinery and equipment. There were 27 establishments operating in the Communications Sector, down by 4 year-on-year; number of persons engaged increased by 54 to 2,086. Total Receipts grew by 7% year-on-year to MOP 7.56 billion, of which Receipts from Postal & Telecommunications Services (MOP 3.57 billion) and Sales of Goods (MOP 3.38 billion) rose by 8% and 3% respectively. Total Expenditure increased by 8% year-on-year to MOP 5.98 billion, with Purchase of Goods & Services and Commission Paid (MOP 4.05 billion) rising by 8%; Operating Expenses (MOP 785 million) and Compensation of Employees (MOP 692 million) both went up by 10%. Gross Value Added of the Communications Sector increased by 2% year-on-year to MOP 2.65 billion; Gross Fixed Capital Formation totalled MOP 655 million, similar to that in 2012.
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Information from the Statistics and Census Service (DSEC) indicated that flows of inward direct investment amounted to MOP 36.1 billion in 2013, up by 16% year-on-year on account of the enterprises retaining profits for reinvestment. Flows of inward direct investment were invested mainly in Gaming (MOP 27.8 billion); Banks & Securities (MOP 3.5 billion); and Wholesale & Retail (MOP 1.3 billion). Analysed by country/territory of usual residence of investors, inward direct investment from the Cayman Islands, the British Virgin Islands and Hong Kong amounted to MOP 13.4 billion, MOP 11.4 billion and MOP 7.4 billion respectively. Moreover, flows of outward direct investment of Macao enterprises amounted to MOP 6.4 billion, resulting in a net inflow of MOP 29.7 billion in 2013. In 2013, inward direct investment income totalled MOP 78.9 billion, up by 31% year-on-year. Rising profits of gaming enterprises induced record high income earned by direct investors, reaching MOP 55.6 billion, up by 39% year-on-year; inward direct investment income of Wholesale & Retail (MOP 8.3 billion) and Banks & Securities (MOP 6.9 billion) rose by 20% and 36% respectively. Meanwhile, outward direct investment income earned by Macao enterprises amounted to MOP 245 million, down by 74% year-on-year, in particular outward direct investment income of Gaming (MOP 147 million) registered a notable decrease of 80%. At the end of 2013, stock of inward direct investment of Macao reached MOP 189.4 billion, up by 24% year-on-year. Analysed by industry, stock of inward direct investment of Gaming increased by 32%, at MOP 114.8 billion, and that of Banks & Securities (MOP 32.0 billion); and Wholesale & Retail (MOP 16.6 billion) rose by 15% and 9% respectively. Investors came mainly from the Cayman Islands (MOP 66.0 billion), Hong Kong (MOP 47.7 billion) and the British Virgin Islands (MOP 41.6 billion), with the respective inward direct investment stock rising by 25%, 23% and 38% respectively year-on-year. Stock of outward direct investment of Macao enterprises amounted to MOP 14.5 billion, up by 54% year-on-year. Analysed by industry of Macao enterprises, stock of outward direct investment of Gaming (MOP 9.8 billion); and Wholesale & Retail (MOP 4.0 billion) increased by 58% and 56% respectively. Direct Investment Statistics analyse of the direct investment profile between Macao and the 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 2013, there were 2,430 enterprises incorporated with inward direct investment.
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The University of Macau (UM) is pleased to announce globally that on its vastly expanded and newly erected campus, it is also implementing Asia's most comprehensive residential college (RC) system. Such a system shares the spirit of successful "students life-experiences" of many elite universities in the Western world. Besides attracting the best and the brightest students, a successful ingredient of a RC system is that it is "mastered" by individuals who are intellectually profound and consider nurturing young minds as a high priority. To this end, after several years of global search, UM was able to announce that to date it has successful recruited nine outstanding scholars with rich managerial experience and a passion for education. With these new masters at the helm, the RCs are poised to assist UM to produce exemplary global workforce for the 21st century. These nine individuals are Prof Liu Chuan Sheng, an authority on plasma astrophysics; Prof Chung Ling, a prolific and significant writer; Prof David Pong, a well-known East Asian historian; Prof George Watt, a literary scholar; Prof Liu Chung Laung, an authority on computing machinery; Prof Yip Ming Chuen, an expert on the mechanics of materials; Prof Kevin Thompson, a renowned musician; Prof Kenneth Leung, a scholar of communication law and ethics; and Prof Iu Vai Pun, an expert in structural mechanics. Prof Liu Chuan Sheng, founding master of Chao Kuang Piu College, is an authority on plasma astrophysics. He was formerly president of Central University in Taiwan and professor in the University of Maryland's Department of Physics. He was also the first Chinese to serve as the vice president of the University of Maryland. Prof Liu has made groundbreaking contributions to the theory of laser-plasma interaction. He is also known for his contributions to international collaborations in higher education. He was a recipient of the University of Maryland's Distinguished International Service Award. Prof Chung Ling, founding master of Cheng Yu Tung College, is a renowned fiction writer, poet, and scholar of China-West comparative literary studies. She has served at Hong Kong Baptist University (HKBU) as dean of the Faculty of Arts, chair professor, and associate vice-president. During her service at HKBU, she founded the International Writers Workshop and the Dream of the Red Chamber Award: the World's Distinguished Novel in Chinese. Prof David Pong, founding master of Choi Kai Yau College, is a veteran historian. He has taught at universities in Britain, the United States, Australia and Hong Kong. He was a Fulbright Scholar-in-Residence in the Chinese University of Hong Kong's (CUHK) Department of History and Centre for East Asian Studies, and a Scholar-in-Residence in China Studies at HKBU. He was the editor-in-chief of the four-volume Encyclopedia of Modern China, which received the Dartmouth Medal Honorable Mention for the best reference work published in 2009. Prof George Watt, founding master of the Henry Fok Pearl Jubilee College, is a renowned literature scholar with distinguished achievements and rich experience in teaching, research and management. Before joining UM, Prof Watt had accumulated more than nine years of experience in managing and heading residential colleges. He was the head of three different residential colleges in Australia, namely the Ursula Hall and Fenner Hall of the Australian National University, and the International House at the University of Queensland. In Japan, he was dean of the Faculty of Foreign Languages and Asian Studies at the Nagoya University of Commerce and Business and was founding professor of comparative culture at Komazawa University's Hokkaido campus. Prof Liu Chung Laung, founding master of Lui Che Woo College, is a world-renowned computer scientist and educator. He has made significant contributions in the areas of real-time systems, computer-aided design of VLSI circuits, combinatorial optimisation, and discrete mathematics. He was president of Tsing Hua University in Taiwan, and associate provost of the University of Illinois at Urbana-Champaign. He has received numerous awards, including the Phil Kaufman Award from the Institute of Electrical and Electronics Engineers' (IEEE) Council on Electronic Design Automation, the IEEE Gustav Robert Kirchhoff Award, the Technical Achievement Award from the IEEE's Circuits and Systems Society, the Technical Achievement Award from the IEEE's Real Time Systems Technical Committee, and the IEEE Education Medal. Prof Yip Ming Chuen will assume office as the Master of Lui Che Woo College next year. Prof Yip has held a number of senior administrative positions at Tsing Hua University in Taiwan for 27 years, including senior vice president and dean of student affairs. Prof Yip is an expert on the mechanics of materials, with more than 30 years of experience in teaching and research. His research interests include fatigue of metallic and composite materials, plasticity, and experimental mechanics. He was chairman of the Society of Theoretical and Applied Mechanics in Taiwan. He is now president of the Asian Australasian Association for Composite Materials. Prof Kevin Thompson, founding master of the Moon Chun Memorial College, is a renowned musician, composer and conductor, with outstanding achievements in promoting the arts, cultural exchange, and the development of the creative industry. He was director of the Hong Kong Academy for Performing Arts, chairman of the Royal West of England Academy, and director of the Dartington College of Arts. He was made an Officer of the Order of the British Empire (OBE) in the Queen's New Year Honours List 2011 and a French Knight, Officier dans l'Ordre des Arts et des Lettres, on nomination of the former French minister of culture and communication Frédéric Mitterrand in 2012. Prof Kenneth Leung, founding master of Shiu Pong College, is a veteran scholar of press law and journalism ethics. He was chairperson of Hang Seng Management College's Department of General Education. During his time at the CUHK, he served as professor of journalism and communication and the New Asia College's dean of students and senior college tutor. He was the first scholar of journalism and communication to introduce public opinion polls on public affairs into Hong Kong. He was also the first to develop a full 3-credit course in media ethics and another in communication laws in Hong Kong at the CUHK. His book on communication laws was the first of its kind published in Hong Kong. Prof Iu Vai Pan, founding master of the Stanley Ho East Asia College, is an expert in structural mechanics. Prof Iu was a former rector of UM. His research interests mainly include finite element method, nonlinear vibrations, and computational methods. He was the first scholar from Macao to be elected fellow of the American Society of Civil Engineers. In 2008 he received the Medal of Distinguish Service from the Macao SAR government in recognition of his contribution to higher education in Macao. "Creating and implementing an RC system for UM is a monumental undertaking," UM Rector Wei Zhao said. "It is human engineering of a grand scale that has not been tried at such a scale in universities in the East Asian region. RC system successfully instituted in outstanding universities in the West has impacted western societies throughout the last millennium, and this impact will continue. For sure, I am confident that in the foreseeable future, students emerging from UM's RC could be a formidable global workforce in the 21st century who could make a greater contribution to Macao, China and the world."
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