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The Renminbi (RMB) business of Macao banks has been developing in a steady and orderly manner since its inception. As of the end of September this year, RMB deposits in Macao reached RMB 118.7 billion and cross-border trade settlement cumulatively amounted to RMB 465.0 billion. Macao banks have been carrying out the RMB business on the basis of the Clearing Agreement concluded between the People's Bank of China (PBOC) and the RMB clearing bank in Macao, under which the limit on the value of RMB exchange in cash for each individual each time is RMB20,000 equivalent and RMB exchange through accounts for each individual is RMB20,000 equivalent per day. Taking into consideration the actual conditions and needs in Macao, the Monetary Authority of Macao, along with the Macao financial sector, will continue to enhance the RMB business in Macao, and in that regard to discuss with the PBOC to relax the restrictions and to expand the scope of RMB business, so as to foster the further development of the local financial industry.
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The Chief Executive, Mr Chui Sai On, said today he was happy to see that Macao has enhanced its sustainable comprehensive strength maintained social stability and improved the overall quality of life of its people. And thanks to the support of the Central People's Government and the joint efforts of the Government and the people of Macao, the SAR has achieved considerable results by adopting a pro-active and pragmatic approach. Yet, there is still room for improvement, Mr Chui said, as he gave a review of the work of the third-term government in the last five years. He said the government had encountered numerous challenges and opportunities, but has achieved the expected results and met its goals in all aspects of administration. Mr Chui was speaking at today's plenary meeting of the Legislative Assembly where he reviewed the Government's achievements in the last five years of the third-term government, and presented the budget for the fiscal year 2015. Firstly, Mr Chui emphasised that the Government has made its best effort to establish long-term mechanisms for social security, healthcare, education, housing and manpower development, which were closely related to people's livelihood and aimed at pursuing social wellbeing. The long-term mechanism for social security is composed of the Social Security Fund, financial assistance and social welfare. The Government adopted a multi-faceted and multi-layered model to optimise the social security network for maintaining the basic quality of life of local residents. The Government also implemented the healthcare policy prioritising disease prevention, establish the long-term mechanism for healthcare through the primary healthcare networks, specialist medical services, and public health and disease prevention and control measures. Through the supply of public housing rental units, Home Ownership Scheme units and private residential units, the housing policy with the aim to help all residents to buy their homes was progressively implemented. The Government also strived to uphold the principle of "letting Macao thrive through education" by developing component systems and increasing investment to construct a network that encompasses education for all, connecting the domains of non-tertiary education, tertiary education, vocational and technical education, special education, continuing education and lifelong learning, with the aim of helping the people strengthen their competitiveness and improve the overall quality of local human resources. Based on the principle of "building Macao with talented individuals", the Government developed education as an important approach to cultivate talents, putting the priority on fostering local capable personnel needed for economic and societal development. Mr Chui said it was the Government's priority to promote and facilitate adequate economic diversification. To achieve the goal of sustainable development, the Government strived to maintain steady and healthy growth of Macao's economy, and strengthen Macao's comprehensive competitiveness. During the past five years, Macao has managed to maintain stable growth under the complicated and ever-changing global economic and financial environment. The Government continued to step up its efforts in monitoring and regulating the gaming industry to ensure its healthy development, to diversify into other industries reinforcing non-gaming elements to sharpen its competitiveness. Further efforts were also made to promote the growth of other industries such as convention and exhibition, cultural and creative, Chinese medicine, information technology and logistics. With the aim of establishing Macao as a world tourism and leisure centre, the Government has made tremendous efforts in exploring international tourist sources, promoting quality tours, conventions and exhibitions, and comprehensive travel plans. Through regional tourism collaboration, multi-destination tours were developed. Meanwhile, the Government also began to formulate its general plan for tourism development and set its mid-term and long-term goals for Macao's tourism development. The Government would spare no effort to support small- and medium-sized enterprises (SME) on business development through provision of financial aid and optimisation of business environment and human resources. Besides improving business operations of the SMEs, the Government also emphasised on protecting the rights of local employees. The Chief Executive also said Macao has successfully played its unique role as a service platform through enhanced regional cooperation and thus strengthened its attractiveness as a world tourism and leisure centre. The Government would continue to perfect the mechanism for regional co-operation, deepen and widen the scope of co-operation, to breakthrough existing limitations to achieve sustainable development, adequate economic diversification and betterment of social wellbeing in the long run. During the past five years, Macao pro-actively involved itself in the integrated development of the region, developed ideas for co-operation, and built a quality living environment for people's wellbeing. The implementation of Closer Economic Partnership Arrangement (CEPA) and its supplementary protocols have successfully facilitated integration between Macao and cities on in the mainland. The Government achieved success in organising the ministerial meeting for two editions of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries, establishing itself as an economic and trade services platform, and giving full play to its function as a platform between China and the Portuguese-speaking countries. Mr Chui re-iterated that it was a common wish of the people of Macao to have a comfortable home. Over the past five years, the Government has made its best efforts to help build Macao into a liveable city with modern infrastructures, enriched living environment and diverse cultural essence. To achieve this, the Government strengthened land administration and urban development, promoted conservation and revitalised historical buildings, and made appropriate arrangements to support the future implementation of Macao's urban planning as a whole and in detail. Over the years, the Government has been working hard on issues related to public transport, cross-boundary connectivity, environmental protection, sewers and flooding problems. It has also made improvements in municipal facilitates and enhancement in ensuring food safety. The Government also strived to maintain public order, strengthened the police force through application of advanced technologies, and build a safe, healthy and inclusive city. The Chief Executive also said the Government would continue to uphold its administrative principles of "putting people first" and "scientific decision-making" to implement public administration reform and steady development of constitutional democratic reforms. During the past five years, the Government took the initiative to collect public opinion, build up social consensus, and facilitated all consultative bodies to give full play to their functions. It also set up the Policy Research Centre to enhance policy research, established a press spokesperson system, respected and protected freedom of the press and publication, as well as formulated the Standard Guidelines for Public Policy Consultation with the aim to optimise the policy consultation system of Macao. Based on the research by relevant departments and academic institutions, the Government has established a management system of its performance, implemented performance assessment for department heads, and established standards and procedures for assessments. The Government also implemented a quarterly reporting mechanism to reflect the progress of policy execution at department level to ensure government policies and measures are properly implemented and enhance the administrative capability and credibility of the Government. Mr Chui concluded that the third term Government has inherited the fruitful results achieved in the 10 years after the re-unification of Macao with the motherland. The Government will uphold the principle of rule according to law, promote constitutional developments, manifest judicial independence, and safeguard the core value of the spirit of the rule of law. The Government will persistently implement the Basic Law of Macao and unify people from all walks of life to ensure long-term stability and sustainability of Macao. The Macao Special Administrative Region of the People's Republic of China Work Report Summary of Fiscal Year 2014, published in Chinese and Portuguese, are now available for distribution to the public at all technical support offices of the Government, the Government Information Bureau, the Government Printer, the Public Information Centre, the Civic and Municipal Affairs Bureau, the Macao Central Library and the Post Office. The Chief Executive will deliver his Policy Address for the Fiscal Year 2015 in the first quarter of the coming year.
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Supported by healthy public finances, the Chief Executive, Mr Chui Sai On, today presented a budget for 2015 that would continue with the policy of helping to ease inflation and to share the results of economic development with every citizen of Macao. Mr Chui also told the Legislative Assembly that the Policy Address for the fiscal year 2015 will be submitted to them by the new term Government in the first quarter of next year. To ensure stability and stable development of the SAR, maintain normal operations of all public departments, and conform with requirements of law, the Government will formulate its budget for the fiscal year 2015 that includes the administrative expenses to maintain normal operations of all public departments, the expenses to be paid in the coming fiscal year as promised by the Government, and the funding for public work projects to be allocated by the first quarter of 2015. Meanwhile, the Government would continue the tax waivers that were introduced 2014. Mr Chui said the Government will continue to offer 30 per cent reduction in personal income tax for all employed residents with the basic allowance set at 144,000 patacas, continue to provide waivers of all business taxes, hawker licence fees, wet market stall rents, inspection and quarantine fees for live food, and stamp duty on life insurance, non-life insurance and bank service charges. Businesses will continue to enjoy waivers of signboard taxes (excluding tobacco advertisements) and exemption from tourism tax for restaurants. Macao residents will continue to enjoy the waiver of real estate tax for the first 3,500 patacas. Profit tax allowance for businesses will be increased from 200,000 patacas to 300,000 patacas, while waivers of stamp duty on entrance passes and tickets for cultural and arts performances, exhibitions and entertainment programmes will continue. Macao permanent residents buying residential properties for the first time will continue to enjoy waiver of real estate stamp duty. The Government will continue with the 60 per cent rebate of the personal income tax paid by each Macao resident for 2014, subject to a ceiling of 12,000 patacas. All residents will receive their tax refund for 2013 and 2014 during 2015 and 2016 respectively. The implementation of the aforementioned tax cuts, waivers and rebates is expected to reduce Government tax revenues by 2.135 billion patacas.
Meanwhile, the Government will continue to provide fare concessions to public transport passengers, electricity bill subsidy for residential units, and financial assistance for disadvantaged families, the disabled and low-income full-time workers. The Positive Life Programme and the Community Employment Assistance Scheme will continue to be implemented. Temporary housing subsidies will continue to be provided to eligible families on the waiting list for public housing. Eligible students and families will continue to receive educational subsidy and allowances for the 2014-2015 academic year. The Government will continue implementing the healthcare voucher scheme for the elderly and the second phase of the Continuing Education Programme. After consulting the Civil Service Pay Council, the Government proposed to adjust upward each point on the civil service salary scale to 79 patacas starting next January, and will submit the bill to the Legislative Assembly for deliberation. To ensure sustainable operation of the Social Security Fund, the Government will inject an extra 13.5 billion patacas into the Fund in 2015 as planned. Moreover, it will inject 10,000 patacas into the Provident Fund individual account of every eligible resident of the MSAR as start up infusion. The Government will continue to propose that an extra sum of 7,000 patacas from the fiscal surplus be injected into the Provident Fund individual account of every eligible resident in the coming year. Mr Chui also proposed to continue implementing the Wealth Partaking Scheme in the coming year under which each permanent resident will receive 9,000 patacas, and each non-permanent resident 5,400 patacas. The Government also proposed to offer the old age allowance of 7,000 patacas to each eligible senior citizen. The above subsidies, allowances and wealth sharing will cost the Government 11.419 billion patacas. The Secretary for Economy and Finance will submit the budget for fiscal year 2015 to the Legislative Assembly on behalf of the Government. Mr Chui said the overall economic development of the MSAR has maintained steady progress under joint efforts. As of September this year, the foreign reserves of the MSAR amounted to 129.2 billion patacas, while the basic reserve was 116.5 billion patacas, with excess reserves of 128.1 billion patacas. Upon the completion of the account closing procedures, the total excess reserves is expected to reach 224.4 billion patacas, thus establishing a strong financial basis for the Government to pursue future development and betterment of people's quality of living.
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The Macao Central Library under the auspices of the Cultural Affairs Bureau (IC), the Consulate General of Poland in Hong Kong and the Macau Ricci Institute, jointly host the Exhibition "Between Science and Art: The Marvels of Asia in the Eyes of Polish Jesuit Michał Piotr Boym, SJ", the opening ceremony of the exhibition took place on 8 November 2014, Saturday, 6:00pm, at the Sir Robert Ho Tung Library. Present in the opening ceremony were Consul General of the Republic of Poland in Hong Kong and Macao, Mr. Mirosław Adamczyk, President of the Cultural Affairs Bureau of the Macao S.A.R. Government, Dr. Ung Vai Meng, Director of the Macau Ricci Institute, Father Artur K. WARDEGA, SJ, Representative of Mr. Edward Kajdański, a Polish sinologist and academic specializing in Boym studies, Mrs.Halina Pieńkowska, and Director of the Macao Central Library of the Macao S.A.R. Government, Ms. Tang Mei Lin.
Ground-breaking European sinologist Fr. Michał Piotr Boym, SJ (1612-1659) - acknowledged as the 'Polish Marco Polo' - was a renowned 17th century Polish missionary, sinologist and painter. The exhibition showcases several reproductions of Boym's works, including maps, scientific illustrations of fauna and flora as well as a human anatomy chart of immense historical significance and artistic value. The exhibition spreads to the garden of the Sir Robert Ho Tung Library, displaying the animals painted by Boym with 3-D installations and it is hoped that Boym's world can be brought to the present from some 400 years ago. The exhibition runs from 8 November 2014 until 18 January 2015 and it opens from10:00am to 7:00pm from Monday to Saturday and from 11:00am to 7:00pm on Sundays. Admission is free.
The organisers invited scholars from Poland and Beijing to a seminar "Michał Piotr Boym, SJ – Man of science and faith entirely devoted to the service of the Chinese and European courts – his feat revisited in Macau", aiming at sharing the results of Boym's research on China. The seminar was held on 8 November 2014 from 3:00pm to 5:00pm at the Sir Robert Ho Tung Library . For more information on this exhibition please access the website www.library.gov.mo or call 2837 7117 during office hours.
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Consumer Council conducted its third 'Supermarket price survey' in November on 10 November for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included 8 supermarkets in Toi San, Ilha Verde and Fai Chi Kei areas in N. Sra. de Fátima 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 the total population was 631,000 as at end-September 2014, up by 7,000 quarter-to-quarter due to an increase in non-resident workers; female population totalled 319,100, accounting for 50.6% of the total. There were 1,971 live births delivered in the third quarter of 2014, an increase of 305 or 18.3% quarter-to-quarter. Male babies totalled 1,047 and the gender ratio of the newborn stood at 113.4, corresponding to 113.4 male babies per 100 female babies. In the first three quarters of 2014, a total of 5,274 live births were recorded, up by 459 year-on-year. Meanwhile, there were 419 mortality cases, a decrease of 58 quarter-to-quarter; the top three underlying causes of death were Neoplasms (157 cases), Diseases of the Circulatory System (84 cases) and Diseases of the Respiratory System (64 cases). In the first three quarters of 2014, mortality cases went up by 53 year-on-year to 1,445. In the third quarter of 2014, there were 2,656 Chinese immigrants, up by 1,868 quarter-to-quarter. Individuals granted right of abode totalled 538, up by 65 quarter-to-quarter. Non-resident workers totalled 162,877 at the end of the third quarter, an increase of 7,567 over the previous quarter. A total of 957 cases of marriage registration were recorded in the third quarter, up by 12 quarter-to-quarter. In the first three quarters of 2014, there were 3,069 cases of marriage registration, down by 90 year-on-year.
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The Chief Executive, Mr Chui Sai On, will attend the plenary session of the Legislative Assembly at 3 pm tomorrow to give a summary on the policy implementation in the fiscal year 2014; he will also introduce the budget proposals for the fiscal year 2015. After the session, Mr Chui will attend a press conference in Government Headquarters at 5 pm to answer questions from the press regarding the work summary. Members of the public are welcome to watch the live broadcast online through the Portal Website of the Macao SAR (http://www.gov.mo), the website of the Office of the Chief Executive (http://www.gce.gov.mo), the website of the Legislative Assembly (http://www.al.gov.mo), the website of the Government Information Bureau (http://www.gcs.gov.mo) and government news channel in YouTube (www.youtube.com/macaogcs). In addition, television channels and radio of the Teledifusão de Macau (TDM) will also air the session live. Besides watching it online, residents can download the Chinese and Portuguese version of the work summary of the fiscal year 2014, or pick up the text from Auxiliary Department of the Government Headquarters, Government Information Bureau, Government Printing Bureau, Public Information Centre, Civic and Municipal Affairs Bureau, Central Library and Macao Post, after the plenary session of Legislative Assembly. Mr Chui will, as the fourth term Chief Executive, deliver the policy address for the fiscal year 2015 in the first quarter of next year.
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The Monetary Authority of Macao released today the credit card statistics for the third quarter of 2014. The total number of personal credit cards in circulation was 819,930 at the end of September 2014, equivalent to an increase of 2.9% over a quarter earlier. The numbers of Pataca (MOP) cards, Hong Kong Dollar (HKD) cards and Renminbi (RMB) cards were 583,754, 85,609 and 150,567 respectively. MOP cards, HKD cards and RMB cards witnessed respective growth of 3.0%, 5.5% and 1.2% quarter-to-quarter. Compared with a year ago, MOP cards and HKD cards rose 13.1% and 10.0% respectively, while the RMB cards, the majority of which are MOP/RMB dual-currency cards, rose even faster by 14.1%.
As at end-September 2014, credit card credit limit granted by banks in Macao reached MOP16.5 billion, up 5.1% from end-June 2014. Credit card receivables amounted to MOP1.9 billion while the rollover amount totalled MOP561.7 million, accounting for 29.8% of credit card receivables. The delinquency ratio, i.e. the ratio of delinquent amount overdue for more than three months to credit card receivables, remained virtually unchanged at 0.87%.
For the third quarter of 2014, the credit card turnover increased 5.2% quarter-to-quarter to MOP4.1 billion. The cash advance turnover was MOP202.6 million, accounting for 5.0% of total credit card turnover. Credit card repayments, in which payments for interest and fees are included, went up 11.7% from the previous quarter to MOP4.2 billion.
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The Chinese, Portuguese and English editions of Macao Yearbook 2014, an annual publication compiled by the Government Information Bureau (GCS) of the Macao SAR, will hit the shelves tomorrow (10 November). The Macao Yearbook is a comprehensive chronicle. It outlines major events, details of progress achieved, and changes made in the course of Macao's political, economic, social and cultural development, with the aim of promoting Macao and providing detailed information and data for all who wish to study and understand Macao. Published annually since 2002, the Macao Yearbook is available in Chinese, Portuguese and English. It is divided into four sections: Administrative Priorities of the MSAR Government; Calendar of Events; Review of the MSAR in 2013 and Appendices. This year's Chinese edition comprises 519 pages with over 200,000 words, Portuguese edition 618 pages, and English edition 576 pages; the yearbook is enriched by 154 photographs. Consisting of 16 chapters, the Review of the MSAR presents information on the political and administrative system; legal and judicial system; external relations; economy; gaming industry; tourism; public order; education; culture and sport; health and social welfare; media, communications and information technology; land, infrastructure, housing and public utilities; transport; geography, environment and population; religion and customs; and history. To illustrate various aspects of the latest developments in the MSAR in a visual way, the Government Information Bureau jointly organised with eight local photography organisations and four news media organisations a photographic competition entitled "Precious Moments in Macao" in early 2013. The yearbook has been enhanced by 7 of the winning entries. The Macao Yearbook 2014, together with a complimentary CD-ROM containing the PDF version of the yearbook, can be purchased at the following places at 120 patacas per copy: major local bookstores; the Government Public Information Centre at Rua do Campo; and the Macao Post Office (Macao Post)'s Philatelic Division, Rua do Campo Branch, Outer Harbour Ferry Terminal Branch, Macau International Airport Branch, and Nova Taipa Branch. During the promotional period lasting until 30 April 2015, a 20 percent discount will be offered to any purchase of Macao Yearbook 2014.
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Consumer Council conducted its second 'Supermarket price survey' in November on 6 November for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included supermarkets near Iao Hon Market and the Border Gate area (Portas do Cerco ) in N. Sra. de Fátima 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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