News

This year, over 1,100 businesses are awarded the 2014 'Certified Shop' emblem by Consumer Council and 15 'Certified Shops' are awarded as 'Class A Certified Shops'.
Consumer Council added a grading system of 5 levels to its assessment mechanism of 'Certified Shop' in 2010 to award businesses that acquire the highest class in the previous year, the Council hopes the assessment mechanism encourages 'Certified Shops' to make improvement and provide better services to consumers. This year, 15 'Certified Shops' are classified as 'Class A', and the number of shops that scored A- has also increased. 111 shops or about 10 percent of the total number of 'Certified Shops' are classified as 'Class A' and 'A-' this year. 1,179 businesses are awarded the 2014 'Certified Shop' emblem, and over half of them earned a B in their annual assessment. About 10 percent of this year's 'Certified Shops' are no longer qualified in the coming year.
Consumer Council indicates that retail business is significant to Macao's economy. According to the Statistics and Census Service Bureau (DSEC), value of retail sales amounted to 47.3 billion patacas in the first three quarters of 2013, which is 20 percent more of that of last year. Retail businesses involved include telecommunications equipment, watches, jewelery, and leather goods, etc. Meanwhile, visitor spending in Macao has also reached its new high. A United Nations World Tourism Organization (UNWTO) research shows that each tourist spends an average of USD3,200 in Macao, which is the highest amount across the world. Also, according to the statistics of Q3, visitor spending (gaming exclusive) amounted to 14.8 billion patacas, which has increased by 12 percent.
'Certified Shops' currently include retail businesses such as jewelers, department stores, Chinese herbal medicine & medicines, etc.. In order to maintain the renowned image of Macao as an international city of tourism, it is necessary to ensure the quality and standard of 'Certified Shops. Consumer Council achieves these by enhanced monitoring on, training for, and raising the standard of its 'Certified Shops'. The award ceremony of 'Class A Certified Shops' was held on 5th December at Macau Fisherman's Wharf. Ms Connie Lau Yin-hing, JP, former Chief Executive of Hong Kong Consumer Council and now Chairman of the International Advisory Group of Experts on Consumer Protection, United Nations Conference on Trade and Development, United Nations, was invited to introduce the current trend of consumer protection work. Other invited guests at the event included representatives from China Consumers' Association, and over 20 consumer organizations in China and Taiwan.
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According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in October. As total deposits increased faster than total loans, the overall loan-to-deposit ratio of the banking sector slid from a month earlier. Money supply
Currency in circulation and demand deposits grew 0.6% and 15.4% respectively. M1 thus increased 13.0% from one month earlier. Concurrently, quasi-monetary liabilities increased 3.2%. The sum of these two items, i.e. M2, grew 4.4% to MOP445.4 billion. On an annual basis, M1 and M2 rose 41.0% and 23.7% respectively. The share of Pataca (MOP) in M2 stood at 23.7%, down 0.6 percentage points from a month ago and 1.2 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 53.2%, down 0.2 percentage points month-to-month and 2.8 percentage points year-on-year.
Deposits
Resident deposits grew 4.5% from the preceding month to MOP436.7 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 1.9%, 4.0% and 8.2%. Non-resident deposits dropped 3.0% to MOP168.8 billion. On the other hand, public sector deposits with the banking sector increased 3.2% to MOP66.0 billion. As a result, total deposits with the banking sector surged by 2.4% from a month earlier to MOP671.5 billion. Loans
Domestic loans to the private sector increased 2.5% from a month ago to MOP249.5 billion. Among which, MOP78.9 billion was MOP-denominated and MOP147.5 billion was denominated in HKD, representing 31.6% and 59.1% of the total respectively. On the other hand, external loans decreased 1.5% to MOP264.8 billion; of which, loans denominated in MOP and HKD accounted for 1.4% (MOP3.7 billion) and 23.0% (MOP61.0 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-October dropped 0.9 percentage points from the previous month to 49.6%. The ratio for both the resident and non-resident sectors also decreased 1.5 percentage points to 76.6%.
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For the implementation of Section 2b), Article 10, Law 4/95/M of 12th June, Consumer Council conducted its specific price surveys on dairy products, beverages, and seasonings on 3rd December. Results of the mentioned 3 surveys have been uploaded to the Council's website (www.consumer.gov.mo) and are 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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To encourage cooperation and interchange of ideas between consumer organizations across the strait, Consumer Council is organizing a forum in the afternoon of 6th Dec at Lecture Hall 2, Macao Polytechnic Institute. Consumer organizations from China, Hong Kong, Macao, and Taiwan will give speeches on topics about the development of consumer protection policy in each region, and other important issues regarding consumer protection. The Council has invited representatives of consumer organizations and scholars across the strait, and local member of the Legislative Assembly to participate in the forum to discuss on topics such as online consumption and food safety. The Council believes the interchange of ideas at this forum will encourage development in local consumer protection work. The public are welcome to join the forum. Interested parties may call 89887368 to make reservation.
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A public seminar was held on 29 November at IFT to share with the public some of the preliminary findings of an ongoing two-year research project collaboration between Institute for Tourism IFT and Oxford Brookes University, U.K. (OBU) on the SME sector in Macao. Prof. Levent Altinay and Dr. Maureen Brookes, both from the Oxford School of Hospitality, OBU and Dr. Ruth Yeung from IFT, are the principal research investigators of the research project, which deals with how SMEs in Macau can thrive more successfully in the future under different environmental and economic conditions. Professor Altinay and Dr. Brookes are among the world's foremost experts in the area of entrepreneurship, small businesses and franchising. The Oxford School of Hospitality, OBU is collaborating with IFT because a significant number of SMEs in Macau are linked to food, hospitality and beverage services, among others of course. This is the second institutional research collaboration between the Oxford School of Hospitality and IFT in the last 3 years. The public seminar attracted 22 participants including government officials and owners, proprietors or managers of small local enterprises. The speakers emphasized that factors such as socio-cultural background, marketing orientation, human resources strategies and learning capability were important determinants in the entrepreneurial orientation and growth of small and medium sized enterprises. Preliminary findings also indicate that language proficiency, educational attainment and previous business experience were important on entrepreneurial activities and SME growth while social cultural factors such as family and labor contribute to the entrepreneurial orientation of the SMEs. The researchers recommended that entrepreneurs and their community networks identify learning and training needs, evaluate market trends and the extent of competition, adopt a more professional marketing and strategic development approach, pay attention to soft elements of relationship marketing, and recruit, train and empower employees for stronger learning capability. Business advisers and government agencies, in turn, should provide relevant training to capitalize on strengths and overcome the socio-cultural barriers for entrepreneurial development. The researchers also recommend developing stronger collaborations between universities and SMEs through government funded partnerships, and reduce bureaucracy for startup capital application and borrowings.
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1.Macao, special administrative region of People's Republic of China, participated in OECD's Programme for International Student Assessment (PISA) for the first time in 2003. Macao participated again in 2006, 2009, 2012, and will participate for the fifth time in 2015. 2.In each three-yearly cycle of PISA assessment, three kinds of literacy are examined, namely: reading, mathematical and scientific literacy. The target students assessed are all secondary students who are aged between 15 years three months and 16 years two months at the time of assessment. For Macao, most students are studying in the three middle grade levels (i.e. grade 8, 9 and 10), whereas some students are studying in the lower or higher grade levels (i.e. grade 7, 11 and 12). This grade distribution has implications for the literacy performance attained in the Macao sample. 3.When comparing the literacy performance across schools, it is important to note that the literacy assessed actually referred to the cumulative educational effects of all the schools that the students have attended previously. Therefore, a low-performing school identified in PISA may not be a poor school. Low-performing students who drop out from one school may subsequently enroll in another school thereby have a possibility of lowering the sampled school's literacy performance level. 4.The focus of PISA 2012 was on mathematics. Amongst the 65 participating countries/economies, Macao's mathematical literacy performance was statistically significantly above the OECD average, and ranked between 6 and 8 on the combined mathematics scale. In decreasing order of the mean of the mathematical literacy score, the five countries/economies statistically significantly higher than Macao are: Shanghai-China, Singapore, Hong Kong-China, Chinese Taipei, and Korea whereas the two countries/economies comparable in performance with that of Macao are: Japan and Liechtenstein. 5.Altogether there are six proficiency levels (i.e. level 1-6) in the combined mathematical literacy scale. There are three important findings. First, students performing below level 2 are regarded as low-performers. About 11% of Macao's 15-year-olds performed at this low level. Second, students who cannot reach the lowest level (i.e. level 1) are regarded as disadvantaged. They run the risks of being unable to function productively in the life-long learning society in the 21st Century. About 3% of the students are thus seriously at risk. Third, students who can reach the top two levels (i.e. level 5 and 6) are crowned as high-performers. They are cherished as valuable talents who are much needed in nowadays knowledge society. In Macao, close to a quarter of the adolescents are high performers in mathematical literacy. 6.Amongst the three problem-solving processes of mathematical literacy, Macao's 15-year-olds performed pretty well in problem formulation, very well in employing mathematics to solve problems, and quite well in interpreting the problem solving solutions. Contrary to previous cycles of PISA assessment, gender difference in mathematical literacy favoring males is not pronounced in PISA 2012. Admittedly, there is a small gender difference favoring males observed in mathematical problem formulation. 7.A minor focus of the PISA 2012 was on the assessment of scientific literacy. Amongst the 65 participating countries/economies, Macao's scientific literacy performance was statistically significantly above the OECD average, and ranked between 9 and 19 on the scientific literacy scale. In descending order of the mean of the scientific literacy score, countries/economies statistically significantly higher than Macao are: Shanghai-China, Hong Kong-China, Singapore, Japan, Finland, Estonia, Korea and Canada. 8.Another minor focus of the PISA 2012 Study was on the assessment of reading literacy. Amongst the 65 participating countries/economies, Macao's reading literacy performance was statistically significantly above the OECD average, and ranked between 12 and 22 on the reading literacy scale. In descending order of the mean of reading literacy score, countries/economies statistically significantly higher than Macao are: Shanghai-China, Hong Kong-China, Singapore, Japan, Korea, Finland, Ireland, Chinese Taipei, Canada, Poland and Estonia. 9.Same as previous three cycles of PISA assessment, the slope of the literacy-ESCS relationship is gentle and the percentage of literacy performance variance explained by economic, social and cultural status (ESCS) is the lowest of the 65 participating countries/economies. Therefore, Macao's basic educational system continues to provide equitable schooling opportunities for the student body it served. 10.Five sets of quality education indicators for the betterment of mathematics education in Macao schools have been identified, namely (1) Learning Mathematics (e.g. familiarity with mathematical concepts); (2) Mathematics Experiences (e.g. mathematics teacher's classroom management); (3) Problem Solving Experiences (e.g. openness for problem solving); (4) Availability and Use of ICT (e.g. ICT use at home for school-related tasks); (5) Classroom and School Climate (e.g. teacher-student relations). Using these indicators as guideposts, suggestions can be made to help low-performing students enhance mathematical literacy performance. 11.Since 2003, Macao has participated four times in the PISA assessment of mathematical, scientific and reading literacy (i.e. PISA 2003, 2006, 2009 and 2012). As at 2012, Macao students have reached very high standards in mathematical literacy, improved appreciably in reading literacy up to the OECD average standard, and maintained fairly good standard in scientific literacy. To raise literacy standards to new heights in the forthcoming PISA 2015, it is important to elevate the mathematical and reading literacy performance standard of the low-achievers, and increase the scientific literacy standard of the high-achievers.
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Consumer Council conducted its first 'Supermarket price survey' for December on 2nd December for the implementation of Section 2b), Article 10, Law 4/95/M of 12th June. Surveyed locations included supermarkets near Areia Preta and Avenida de Venceslau de Morais 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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The University of Macau (UM) recently signed a Memorandum of Understanding (MOU) with the United Board for Christian Higher Education in Asia (UB) to enhance academic collaborations and the development of higher education in Asia. Under the MOU, UM and UB will explore the possibilities of joint PhD scholarships in selected fields for junior faculty members of Asian universities, collaborations in supporting initiatives at universities in mainland China and elsewhere in Asia to improve faculty teaching-learning practices, as well as other academic exchange programmes of mutual interest between UM and UB's partner institutions in Asia. The delegation, consisting of 23 trustees and staff of its New York and Hong Kong offices, were warmly received by UM Rector Wei Zhao, Vice Rectors Prof. Simon Ho and Prof. Haydn Chen, College Masters Prof. George Watt and Prof. Kevin Thompson, Honours College Dean Prof. Mok Kai Meng, Librarian Dr. Paul Poon, and Centre for Teaching and Learning Enhancement Director Prof. Spencer Benson. Prof. Simon Ho, Prof. Haydn Chen, and Prof. Benson told the guests about UM's latest developments, including the 4-in-1 mode of education, the general education programme, internationalisation strategies, research development, the residential college system, as well as teaching and learning initiatives. UB Board of Trustees Vice Chair Dr. Judith Berling, UB President Dr. Nancy Chapman, and UB Vice President for Programmes Dr. Glenn Shive shared the mission and vision of UB and its recent development with UM colleagues. The UB delegation toured the new campus after the meeting. They visited the new library and the various teaching facilities, saying that the new campus was very beautiful and well-planned.
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Information from the Statistics and Census Service (DSEC) indicated that the computer usage rate in the business sector was 51.0% in 2012, up by 4.1 percentage points year-on-year. Analysed by industry, the usage rate in Travel Agencies reached 98.0% while Services and Gaming had a rate of 80.8%; meanwhile, the usage rate in the Restaurant Sector increased by 3.2 percentage points year-on-year but remained low at 32.7%. The major purposes of using computers included word processing (72.5%) and databank (60.5%). Proportion of staff using computers was 45.0%, with the Hotel Sector having the highest proportion of 70.7%. Among the establishments and enterprises using computers, 82.6% had Internet connection, of which 84.0% connected via fixed line broadband, and the major purposes of using the Internet included information search (70.2%) and sending & receiving e-mail (69.3%). With regards to households, there were 156,400 households possessing information technology (IT) devices, accounting for 87.6% of the total, up by 2.7 percentage points year-on-year; the internet usage rate of households was 82.5%, up by 2.0 percentage points. For the population aged 3 and above, the rate of computer and Internet usage was 62.1% and 61.3%, up by 0.3 and 1.1 percentage points respectively year-on-year; those aged 15-24 had the highest rate of computer and Internet usage, at 93.9% and 91.4% respectively. With the popularity of mobile phones, proportion of population using mobile phone to access the Internet soared by 29.8 percentage points year-on-year to 63.5%. Among the Internet users, 86.9% used the Internet for searching information and 85.1% for communication; 81.5% of the Internet users went online everyday. Survey coverage of IT usage in the business sector includes establishments and enterprises engaging in Industrial Production; Construction; Wholesale & Retail Trade; Travel Agencies; Hotels; Restaurants; Transport, Storage & Communications; and Services & Gaming (Real Estate Management; Security Services; Cleaning Services; Gaming; Advertising, Conference/Exhibition Organising Services). Data on IT usage in households are collected from individuals aged 3 or above.
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Information from the Statistics and Census Service (DSEC) indicated that inward foreign direct investment (FDI) flows amounted to MOP 27.5 billion in 2012, up by MOP 21.6 billion year-on-year on account of foreign enterprises reinvesting part of their operating profits into the business. The majority of inflows were invested in the Gaming Sector (MOP 15.5 billion), Wholesale & Retail (MOP 4.5 billion) and Banks & Securities (MOP 3.9 billion). Analysed by investors' place of usual residence, FDI inflows came mainly from the British Virgin Islands (MOP 11.9 billion), the Cayman Islands (MOP 4.2 billion) and Hong Kong (MOP 3.8 billion). On the other hand, outward FDI flows from Macao enterprises amounted to MOP 3.6 billion, resulting in a net FDI inflow of MOP 23.8 billion in 2012. Inward FDI income earned by foreign investors totalled MOP 55.4 billion in 2012, up by 18% year-on-year, of which income earned from the Gaming Sector hit a record high of MOP 34.6 billion, accounting for 63% of the total; income from Wholesale & Retail (MOP 7.6 billion) and Banks & Securities (MOP 5.1 billion) shared 14% and 9% respectively. Meanwhile, Macao enterprises registered an income of MOP 0.9 billion from outward FDI, down by 26% year-on-year. At the end of 2012, stock of inward FDI reached MOP 151.3 billion, up by 27% year-on-year. Analysed by industry, stock of inward FDI in the Gaming Sector increased by 28% to MOP 87.6 billion, accounting for 58% of the total; stock of inward FDI in Banks & Securities (MOP 27.5 billion) and Wholesale & Retail (MOP 16.0 billion) rose by 21% and 45% respectively to share 18% and 11% of the total. Analysed by investors' place of usual residence, inward FDI stock was mainly financed by investors from the Cayman Islands (MOP 49.4 billion), Hong Kong (MOP 39.1 billion) and the British Virgin Islands (MOP 30.2 billion), up by 10%, 26% and 64% respectively. Meanwhile, stock of outward FDI of Macao enterprises amounted to MOP 9.3 billion in 2012, up by 75% year-on-year, with investment in Hong Kong rising by 5% to MOP 4.7 billion. Direct Investment Statistics provide an analysis of the FDI profile between Macao and other economies. For statistical purposes, Macao and Mainland China are considered as two separate 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 2012, there are 2,115 inward FDI enterprises.
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